Every May, Mary Meeker of Kleiner Perkins releases a ~200 slide deck entitled “Internet Trends”. And every May, I anxiously await its release much like a kid looking forward to opening presents on Christmas morning.
The deck is overflowing with really great data that captures the current state of technology from a bird’s-eye view. Below are some of my key takeaways in this year’s deck:
- There are over 5.2B mobile phone users, and approximately 40% of all mobile devices are now smartphones. Mobile subscriptions increased 23% in 2014. That pace, however, should slow down as new user adoption shifts from predominantly developed markets to less developed pockets.
- There is a still a big disconnect between time spent on mobile for media consumption (~25% of total time) and mobile ad spend (8% of total spend). In general, ad spend per medium is very much in line with consumption time. Reaching parity in mobile ad spend presents a ~$25B opportunity in the US alone.
- Meeker highlights that enterprises’ application of computing is moving away from process optimization and toward process redesign – a fundamental shift that is allowing small technology insurgents to aggressively compete against incumbents. Banking and transportation come to mind. Many more industries will likely follow.
- In terms of consumer spending, the top spending categories for the average US household are housing (33%), transportation (18%), food (14%), personal insurance (11%), and healthcare (7%). We’re witnessing an explosion of startups and investment activity around 4 of those 5 categories. The notable exception in the US remains personal insurance. Could we expect innovation to finally take hold of this trillion-plus dollar market in the next 5-10 years?
I highly recommend digging into the entire deck. Here it is: