It’s out! I wait all year and then, eureka, it’s here and captivating all over again. I turn off Real Housewives and pour a Cold Smoke. What am I so jazzed about? The Mary Meeker Internet Trends Report. Of course.
It’s free, non-partisan, and full of juicy tidbits. It’s amazing. Especially for anyone living in this century who wants to know more about what’s going on in tech, or around the world, or on your mobile device. Or your kid’s mobile device. Because who can actually keep track of all those kids, countries and apps? And, did I mention it’s free?
Ms. Meeker began her annual internet report in the early 2000s. For most of its history, she managed to impart vast amounts of info in about 100 slides, but in the last few years it’s ballooned, just like the internet. This year’s report is 213 slides. I hope she gets back to fewer slides, but she hasn’t asked my opinion, so …
Back to the report! My takeaways are:
- Global GDP growth is slowing, in six of the last eight years it’s been below the 20-year average. Internet use has flatlined, too, at about 3 billion people.
- In 2015, North America + Europe + Japan = 29 percent of worldwide GDP compared to 63 percent in 1985. China + Emerging Asia now = 63 percent.
- Advertisers are spending too much on legacy media and not enough on social media.
- E-commerce is still only about 10 percent of retail sales but growing exponentially.
- Facebook, followed by Instagram, Twitter and LinkedIn have the highest reach among millennials.
- We are increasingly visual – video, photos, personalized stickers, emojis, and lenses are all growing in commerce.
- Voice commands to phones, wrist devices, and homes (through Amazon Echo type devices) will give our thumbs a much-needed rest.
- Self-driving cars will totally disrupt the auto industry and everyone connected with it. Soon.
- China chewed up 20-plus slides. Boring, but I get it.
- Despite significantly lower revenue, Amazon has a vastly higher market cap than legacy retailer Wal-Mart, same for Netflix v. legacy media giant Viacom
- Of the top 20 internet companies, 12 are USA-based, seven in China, one in Japan.
This may be a yawner for some of you, but a couple of things are important to note. First, a data-heavy report that historically would have cost hundreds of thousands of dollars and been available to only a select few is free and accessible to anyone with a broadband connection. No matter where we live. Second, the internet has globalized commerce and shrunk our world. Even in rural and small towns, our jobs, economies, and futures are increasingly intertwined with Asia and elsewhere. That Genie’s not going back in the bottle.
Diane Smith is the founder and CEO of American Rural.