Mary Meeker

Managing Director, Morgan Stanley

Mary Meeker

Forty-six percent of internet users are in just 5 countries (China, USA, Brazil, India, and Russia). All these countries, with the exception of the United States, still have less than 50% Internet penetration. In other words, the future of Internet growth and best practice examples are in these countries, according to Mary Meeker. Meeker refers to companies such as Facebook and China's TenCent as "incumbents" who are successfully exploring these opportunities, so far. Social networking incumbents like Facebook and Twitter have uniquely low advertising value compared to other types of websites but she expects that to change within the next 5 years.

"Attackers" such as Android and iPhone are driving quick, significant shifts in worldwide market share although Nokia is traditionally a more recognized brand globally. Meeker contends that it's not only about market share, it's about motivating consumers to purchase. Attackers tend to innovate rapidly. New terms like "location-based services," "flash sales," "real-time alerts," and "virtual goods" describe how attackers are approaching smartphone opportunities.

According to Mary Meeker, "Disruptors" such as Netflix, Paypal, Apple, and Facebook use low-end segment strategies or nonconsumption strategies to carve out innovative and successful markets. She believes disruptive innovation will continue to play a vital role in future tech advancements.


Mary Meeker was an early and consistent believer in online opportunities. In 1982, Meeker joined Merrill Lynch as a stockbroker. After graduate school, she began as an analyst covering the technology sector at Salomon Brothers in 1986. In August 1995, Morgan Stanley (with Meeker as research analyst) served as lead manager for the initial public offering of Netscape Communications. Later that year, Meeker and Chris DePuy at Morgan Stanley, published "The Internet Report," a landmark Morgan Stanley industry report which became known as "the bible" for investors in the dot com boom and went into popular circulation - as a book, and on the web. In December, 2010 Meeker left her position as a managing director at Morgan Stanley and head of the bank's global technology research team to become a partner at the Silicon Valley venture capital firm of Kleiner Perkins Caufield & Byers.

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