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1/32 Mary Meeker’s 2019 internet trends report deck is always a must read on consumer internet, SaaS, and the general economy. I made some notes on it as I always do. It’s the 31 pages of the 300+ page report that are most relevant to me. Here they come… bondcap.com/report/itr19/
2/32 Easiest to set new habits and establish new brands with no prior allegiances: 
3/32 India is #2 in number of users, #1 in number of potential users, missing from this list (so far):
4/32 Limited share shift going forward. Now revenue grows with usage:
5/32 FB + Google duopoly of online advertising is driving paid CAC to levels that prevent startups from getting to scale on paid alone. Especially in ecommerce. Need organic scalable channels as well. At least until new scalable paid channels emerge:
6/32 Sources of Organic Customer Acquisition: free trial, organic social, repeatable PR, genuine word of mouth, and owned community/content channels.
7/32 Trend is your friend for mobile. Every genre of TV will have a mobile native analogue. ESPN ->Twitch, Reality TV -> Snap Stories and Insta Stories, Gameshows -> HQ Trivia, CNBC -> Cheddar, Talk Shows -> ? True Crime -> ? Televangelism -> ? Morning Shows -?
8/32 FB and WeChat seeing decline. Insta and YT still growing fast.
9/32 Stories are a winning format (thanks 👻!)
10/32 “TV as Company” (HG TV, Food Network, Morning Show, Daytime talk etc.) --> “Podcasts as Company”
11/32 Echo = platform with massive scale but little monetization. Why? Poor discovery, hard for developers to control own monetization, limited notifications makes retention + engagement very difficult.
12/32 China = more customers than there are people in the USA. Mass market prices lead to mass markets.
13/32 Cheap, fast delivery drives ecomm adoption.
14/32 Incredible growth of a large base is possible when the user base is growing also – no old loyalties to overcome.
15/32 Power of default distribution for new users. This is the equivalent of AOL + Yahoo owning vertical channels in the late 90s in the US:
16/32 Digital (fast, cheap) is more important than trustless (distributed public ledger) in payments. Both is better but users are willing to trust a centralized authority in some instances:
17/32 50% of tweet impressions = images/video other media. Amazing for an originally text platform. 100% images/video for modern networks like insta, TikTok, Snap, Pinterest, etc.
18/32 Text is for communication. Images are for: communication, self -expression, emotion, fun, etc.
19/32 Fortnite is a new social network. Where people “hang out” – the new digital playground. You can just show up, someone will be there.
20/32 Freemium business evolution allows (1) price discrimination (users who get more value pay more) and (2) trial or free as lead gen for paid.
21/32 Users always say that they care about privacy but when they act they always trade privacy for convenience.
22/32 Polarizing Content -> Polarized Users -> Polarizing Content -> Polarized Users…
23/32 Local regulation leads to local champions vs. global champions
24/32 Gig economy by choice or necessity?
26/32 817M Chinese internet users. 600M hrs/day. ~45 min/user/day on short form video:
27/32
Internet ->Portals (Yahoo, AOL)
Messaging -> WeChat
…Control the first screen, control the next click:
Internet ->Portals (Yahoo, AOL)
Messaging -> WeChat
…Control the first screen, control the next click:
28/32 Another take on the “first screen”:
29/32 And another:
30/32 Rest of the world is learning from China. But are they really “first screen”? Maybe not in the same way. Whatsapp has best opportunity to replicate super app experience outside of China. In US/West, habits already set for each type of activity.
31/32 Live stream shopping happening today in US but as FB livestreams.
32/32 Advantage of cheap labor and dense cities:
