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Mary Meeker Warns "Pockets Of Over-Valuation... Growth Rates Are Slowing" In Her Latest 'State Of The Internet' Presentation
While careful to 'remain optimistic' KPCB's Mary Meeker warns that "growth rates for leaders... are slowing," and warns that global tech puiblic/private financings are now 17% above 1999 levels and "there are pockets of Internet company overvaluation but there are also pockets of undervaluation," as she unveils her latest (record-breaking) 197-page epic chartapalooza on Internet Trends...
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I read all of it. I'm faster than Jon Hisenrath.
it's easy to produce 197 pages if you use a single stupid sentence of h1 font every other page.
OK, so now I really did read all of it. If you were thinking of doing it, don't bother. The climb isn't worth the view on that one.
I predict there will be graphs from that presentation pop up in ZH articles the next few months, though.
The section on demographics was surreal. I'm reading the data and thinking "we're doomed", but it's presented with a happy face. Like if Hello Kitty was the one telling you your Mom just died.
Regarding demographics...it's astounding the trigger for '08 and the reason we can't and won't "recover" is right there...and nobody seems to talk about it. Click the link, check the first chart...mystery solved.
Slowing demand or some such shit. It's all about flow, not stock. And what's more important than the flow (or lack there-of since '08) of new population (decling core populations means fewer consumers, homeowners, taxpayers, etc.).
The data is soooooo clear...but then again it's more fun just to make shit up.
http://econimica.blogspot.com/2015/05/2008-was-tremorwhy-main-event-is-still.html
Also, added a chart showing the annual change in the 0-24 year old US population…which looks to be turning negative alongside the falling 25-64 year old segment. Soft consumer demand solved.
The lower class may be doomed back into serfdom, but hopefully it will be a happier serfdom this time around, what with at the tech gadgets to keep them constantly entertained. That, or our technology will crumble and those who gambled on avoiding it (or weren't able to afford the luxury) will have their day.
Sounds like pockets of Bullshit from an old hand
Well, it certainly is a large collection of data. Precious little insight, but lots of data.
Data without meaning is noise, and the SNR just seems to get worse every day.
The trap that every Type A personality falls into: confusing activity with results.
She is correct, there are four pockets of over valuation currently in the US, and they are:
DOW 30
Nasdaq
S&P 500
Russell 2000
Mary Meeker??? She's still swingin' a shingle?
Wow! I thought she'd been chased outta town - with the likes of Henry Blodget - years ago!
"Pockets of overvaluation..????
More like THE WHOLE MARKET...unless, of course, you are a desperate yield-seeker utterly dependenton continued ZIRP...
What a pile of crap. All data no information. NoDebt is right - zero insight and no coherent thesis.
As far as industry and finance are concerned, the internet is the perfect medium for post-industrial (dead-broke, credit-exhausted, running on fumes, self-cannibalizing, terminally self-obsessed, absolutely vacuous) hyper-consumerism. If you can't get the soulless consumer to the cheap-crap-store, bring the cheap-crap-store to the consumer.
Glancing through this cheap cheerleading garbage, all I can think is, anyone else who has pondered "the organic economy that supports modern civilization is on deathwatch," you are absolutely right.
As far as government is concerned, the internet is the perfect surveillance medium.
As far as media is concerned, the internet is the perfect propaganda medium.
So here's the thesis: total credit must expand, continuously, "forever", hence, there is nothing that will not be shamelessly monetized for that last penny. That's the internet today, the new excuse of an economy that doesn't exist. The greed and desperation knows no limit. Monetize, monetize, monetize. Energy costs priced the so-called real economy "out of the market" - it provided no value and could no longer roll over its debts. So now we get a virtual one. But just like the one it's now intended to replace, it (*gasp*) requires financing, consumes capital, produces no value whatsoever, wastes everyone's time, and cannot pay for itself.
It's no coincidence that the commercialization of the internet perfectly tracked the decline of the so-called real economy and the rise of the financialized economy. The commercial internet is what you get when a real physical economy can no longer finance itself. What you are seeing is conservation by other means. What Mary Meeker and her fellow army of credit-financed-consumerism=utopia, internet-will-save-the-sacred-status-quo shills are spinning is none other than the death of the industrial economy and all that implies.
Wow, Year 1999's permabull Meaker starts to doubt! Dangers must be real big!