Mary Meeker's presentation at the Web 2.0 Summit on "Internet Trends" given yesterday, October 18, provided a wealth of data and some insightful analysis regarding the direction and speed with which the networked world is moving.
We have linked to previous presentations by Mary Meeker on the same subject before (2009 and 2010) and explained that the data she is discussing provides powerful and graphic confirmation of an extremely important paradigm shift taking place at a rapid pace, even in the midst of widespread economic angst and unmistakable government ineptitude.
We have also explained previously that paradigm shifts of this magnitude are so powerful that it is difficult for even government blundering to derail them completely (not completely impossible, but very difficult and in fact nearly impossible). In yesterday's presentation, Ms Meeker actually presents one slide which reinforces that theme, in which she shows the adoption by percentage of population of previous communications technologies going back to the AM radio, and includes bars on the graph showing recessions and the Great Depression, to illustrate that even the worst economic environments could not hold back change of this nature.
Finally, Ms Meeker closed her talk with a short but pointed quotation from the justly famous poem If, by Rudyard Kipling (1865 - 1936). She cites the first words of the poem's opening line:
If you can keep your head when all about youHer message is that the changes and innovations taking place in certain parts of the economy present a tremendous opportunity, but only if you keep your head about you (especially because there are plenty of talking heads who appear, in our opinion, to be "losing theirs").
Are losing theirs [. . .]
Mr. Kipling's poem certainly applies to many other aspects of life, but we agree with Mary Meeker that it applies very well to investing, and particularly to investing at this particular junction of history. Bravo to her for another extremely worthwhile talk, and for sharing her insights so generously with anyone who cares to listen. We believe that every investor should do so.
