Mary Meeker’s 2019 Internet Trends Report

 

00:04
I know that was applause for Karen not
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for me so thank you for that applause so
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I'm gonna run through these slides many
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of you have seen this before and this is
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a presentation that's meant to be read
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not presented so the critiques about the
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presentation style are justified here is
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what we're going to go through I'm going
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to talk about trends with users what's
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going on with the e-commerce and
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advertising focus on usage trends
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freemium business models what's going on
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with data growth work education and
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touch on some things that we're that
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will be I won't go through all them but
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they're more they're more it will be
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more content in the in the deck that has
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posted at bon calm and a tree code as
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well but some things on immigration and
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an up some updates to our report USA Inc
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and look at healthcare and then the
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folks at hill house capital created them
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as usual great presentation on some of
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the trends in China one of the things
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that we do in this report is you'll see
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a lot of charts that go up into the
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right and they go up into the right
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because those are the trends and the
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markets that were focused on and I'll
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zip through them pretty quickly but
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you'll get a sense of scale and scope
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but before I begin I want to thank the
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folks at bond especially Michael Brogan
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and Ansel Parikh who really put a lot of
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sweat equity into this report and have
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taken it across the goal line in
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addition to Kara and all the folks that
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helped us with this report every year
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you know who you are and we're very
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appreciative so I'm not going to read
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through the side but this is basically
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the context setting for all that we go
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through in the report so Internet users
01:37
at 50% of the global global penetration
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new growth remains harder to find growth
01:42
is slowing up 6% in 2018 versus 7% in
01:45
the prior year new smartphone unit
01:47
shipments actually declined in 2018 you
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can see from the red line what the what
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the growth rate trending looks like 3.8
01:55
billion Internet users in the world
01:57
asia-pacific leads in both users and
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potential there's still a lot of upside
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in that region China is the largest
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market with 21% of total internet users
02:07
India at 12% in the u.s. at 8% China and
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India have a lot of upside the u.s. does
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not if we look at the global internet
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market cap leaders the u.s. is stable at
02:16
18
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the top 30 and China is stable at seven
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of the top 30 and those are the two
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leading two leading countries where
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Internet innovation is at an especially
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high level if we look at global market
02:28
cap leaders the United States is stable
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at 23 of 30 and tech is stable at 9 of
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30 of that of that group if we look at
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revenue growth for the internet market
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cap leaders it continues to slow as
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events by the the red line up 11 percent
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year-on-year in q1 versus 13 percent in
02:44
q4 if we look at the market cap leaders
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similar trending with 2 percent growth
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in q1 versus 7 percent year to year
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growth in q4 moving on to e-commerce and
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online advertising it's solid but
02:55
slowing we look specifically at
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ecommerce again the red line shows the
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slowing rates of growth of 12.4% in q1
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versus 12.1 percent in q4 physical
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retail growth is solid at around 2% has
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been at that that around that level for
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a while and e-commerce share gains
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continue at 15% of retail versus 14% a
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year earlier in online advertising this
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is a chart we created a really long time
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ago we thought it would be interesting
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to look at the amount of media time
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spent versus the amount of advertising
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dollars spent mobile hit equilibrium in
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2018 while desktop hit that equilibrium
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point in 2015 if we look at Internet ads
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spending on an annual basis that
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accelerated a little bit in 2018 up 22
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percent but if we look at it as
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according to the leader the leading
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companies and they're there they're
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there their results internet average
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revenue has been decelerate on a
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quarterly basis up 20 percent in q1 if
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we look at the at the platforms that are
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out there Google and Facebook continue
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to lead but others are gaining share
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though from a small base but this looks
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at the trends for Amazon Twitter snap
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and Pinterest versus Google and Facebook
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in Internet ad buying programmatic gains
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versus direct continue it's a variant of
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the majority of ad spending at this
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point and it's been negatively impacting
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pricing if we look at some of the ads
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share gain drivers and there are many
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but at the top of the list are is is
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better targeting new creative integrated
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commerce and high relevance and these
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are examples from Facebook YouTube
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Pinterest into
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customer acquisition costs are arising
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in many highly competitive and highly
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capitalized sectors this looks at capped
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cost per activation in mobile finance
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app apps globally and the reality is
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customer acquisition costs can't exceed
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lifetime value for very long and for
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those of you that are in this business
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you know it and you often see it the
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most efficient and effective marketing
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is one's own product Plus happy
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customers plus recommendations very
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effective and efficient marketing can be
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free trial or free tier one of the best
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examples of this of is Spotify with its
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free user conversion to paid subscribers
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more recently a great example of this is
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zoom free user conversion to paid
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subscribers aver another very effective
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and efficient marketing mechanism can be
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recommendations and stitch fix is one of
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the best examples of recommendations
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both human driven and and AI driven that
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are driving their customer base in their
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revenue there are a couple things in
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advertising that we don't quite know
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about yet we'll call them the TBD s we
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don't quite know what the impact of
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privacy changes will be on ad targeting
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and an emerging area that will be
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important to watch is digital based TV
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ads aided by in hand-in-hand mobiles and
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how that impacts the market for ad
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targeting moving on to internet usage
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solid growth driven again by investment
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in innovation if we look specifically at
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usage digital media usage in the u.s. is
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accelerating up 7% versus 5% growth in
06:01
2017 most of that is on mobile if we
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look at the drivers one is investment
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and it remains robust globally this data
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from Morgan Stanley investment public
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and private into tech companies has been
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very high for two decades or more and if
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we look at innovation for US companies
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and they'll switch to non-us companies
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that remains robust if we look at device
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time mobile surpassed TV time in 2018 if
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we look at online platforms YouTube and
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Instagram or gaining the most if we look
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at video time digital is up to X in five
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years to 28% of total versus TV if we
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look at short form is specifically on
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short form video specifically on the
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Facebook platform 1.5 billion da use up
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to X in one year if we look at voice
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seven
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million podcast listener ma use up to X
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and four years and also unvoiced 47
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million Amazon echoes is it there's a
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base of 47 million Amazon echo devices
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up to X and one year
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wearables 52 million users up to X and
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for years on demand 56 million consumers
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in the u.s. up to X and 2 years local
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two hundred thirty six thousand active
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global neighborhoods up to X and two
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years and then the underserved
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population we looked at square seller
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base it's growing 28 percent faster in
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the lowest vs. highest income MSAs in
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the US if we look outside the US there's
07:24
especially high innovation in
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data-driven and direct fulfillment
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that's growing very rapidly in China pen
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duo duo connecting consumer preferences
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and manufacturers 443 million buyers up
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to X and five quarters China mate Wan
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connecting to the consumers and local
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businesses six million merchants up to X
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and two years Latin American rapid
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digitizing delivery eight million orders
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up to X and four months
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Indonesia tokopedia improving product
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delivery across 17,000 islands six
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million merchants up to X and one year
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Southeast Asia shopping mobile first
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social commerce 10 billion and gmv up to
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X in one year in India Reliance Geo
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continues to Marvel expanding offline
08:06
access to e-commerce 307 million
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subscribers up to X and one year
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and data usage is up to X in one year as
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they are offering a broad base of geo
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services for their consumers who are
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picking them up and using it very
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quickly also in an innovation outside
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the US it's especially strong in
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financial services and that is an
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Alibaba slide on the website with their
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billion users it's not on here but
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you'll see it if you go to bond capcom
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thank you very much South Korea toss 12
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million users up to X in one year Europe
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revolute four million users up to X and
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10 months Brazil new bank 9 million
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unique customers up to X in one year
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Latin America Mercado Libre 389 million
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transactions and two up to
08:58
in two years Southeast Asia grab
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rideshare driven digital payments
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transaction value up to X in one year
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and then moving to usage in other ways
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images are increasingly relevant ways to
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communicate images are the oldest form
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of transportable communication 40,000
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years ago the first image oldest-known
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image is a painting in Indonesia for
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centuries people have learned to write
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and share words offline and one to one
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and one to some communication via text
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and numbers is foundational but for 2
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decades people have been ramping image
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and video sharing and video creation and
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sharing offline and often one-to-many
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going back to what we did 40,000 years
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ago image creation the Foundation's
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continue to ramp if we look at
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smartphone camera base smartphone power
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cellular data use and Wi-Fi reach if we
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look at image sharing the foundations
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continue to ramp image creation and also
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image sharing image creation sharing
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engagement continues to ramp when
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Twitter launched this is Jack's first
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one of Jack's first tweets 2006 it was
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text only today more than 50% of tweet
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of tweet impressions or images video or
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other forms of media the platform and
10:06
functionality and usage continues to
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ramp in image creation sharing Instagram
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has absolutely been a leader there as
10:11
has Pinterest and Google is leading with
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computer vision and artificial
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intelligence people are increasingly
10:20
telling stories we edited images and
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videos let's look at the growth in the
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snap community Lin's views and image
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based design fluency and storytelling is
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increasingly self-taught and
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collaborative and we're still in the
10:32
early innings this is an example of what
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canva does with simple collaborative and
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feedback driven design on its service
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this is a great quote from Kevin Systrom
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with Sen twits which summarizes at all
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people have always been visual our
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brains are wired for images writing was
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a hack a detour pictorial languages are
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how we all started to communicate we are
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coming full circle
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instagrams inherent feedback systems
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help users continuously improve their
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communications skills after all would
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you rather have a picture or words about
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the thousand the thousand words about
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the picture okay
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usage I'm not going fast enough clearly
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interactive gaming it's increasingly
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increasingly relevant way to communicate
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interactive gaming accelerate 2.4
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billion users of 6 percent year-on-year
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in 2018
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interactive gaming innovation is rising
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across platforms it's real-time play
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talk text and watch its social in nearly
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always if we look at fortnight 250
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million users up to X year-on-year
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across 7 platforms one of the things
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that drove this this business and this
11:43
product a great success
11:44
talking text discord has 250 million
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users up to X year-on-year
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watch in interactive gaining twitch time
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and viewers up to X in two years if we
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look specifically at fortnight battle
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royale is a game environment capped at
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100 million person groups fortnight
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events shared experience is capped at
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100 person groups and voice chat
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collaborative communication capped at 16
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squadmates
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interactive gaming shared environments
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with collective purpose and goals are
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these the new social and friend networks
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recreating reality around play and
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problem solving
12:19
switching to freemium business models
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they're growing and scaling we're still
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in the early days and enterprise and
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consumer freemium businesses free user
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experience enables more usage engagement
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social sharing and network effects
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premium user experience drives
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monetization product and innovation
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started in gaming moved to enterprise
12:37
and consumer specifically in gaming
12:40
runescape 2001 more recently epic
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fortnight 2017 freemium gaming is often
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social often mobile and it can be
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transient if we moved to the enterprise
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really started in many ways with Google
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G suite in 2006 most recently zoom
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freemium enterprise collaborative
12:57
business critical and annuity like
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moving to consumer Spotify 2008 canva
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2015 freemium consumers personalized
13:05
efficient often social and annuity like
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freemium business evolution started in
13:10
gaming evolving emerging and consumer
13:12
and enterprise all in we're just getting
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started
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this looks at the pure play companies
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with freemium business models that have
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more than 10 million paid subscribers
13:23
Gaming epic games Enterprise Dropbox
13:25
Spotify in consumer we think there's a
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lot more to come one of the key enablers
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of this has been cloud deployment
13:32
revenue growth up fifty eight percent
13:34
year-on-year work at 22 percent of
13:37
workloads up to X and five years and
13:38
interest continues to rise another
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enabler of freemium subscription
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business models as efficient digital
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payments account for more than 50
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percent of day-to-day transactions
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around the world for a a annually
13:50
updated survey from visa data growth is
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changing the way things work rapidly and
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globally data collection analysis and
13:57
utilization is evolving from humans to
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humans and computers before 1995 winning
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businesses use human data insights and
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insights to improve customer experiences
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one of the best examples was IBM focused
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on product development by feet on the
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street customer input drove that to
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great success Nike did that with
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employees who happen to be runners who
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helped him design great products to
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great success Chrysler did it with focus
14:21
groups and discovered that the minivan
14:23
could be a very exciting product and
14:25
turned the company around Intuit did
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this with all with all in top to bottom
14:29
with the in organization from founder to
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CEO to president to engineer focused on
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customer testing in 1990s and 2000's the
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internet mobile devices and cloud
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emerged post 1995 winning businesses
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used digital data and insights to
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improve customer experiences Capital One
14:48
did this to great effect use customer
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data to optimize its marketing and
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amazon.com did this better than almost
14:54
anyone else using customer data to
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improve the user experience and optimize
14:58
sales in the 2000s something began to
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happen and that as companies began to
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create products that allowed other
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companies to do this we call them data
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plumbers winning businesses build and
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use data plumbing tools to use digital
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data and insights to improve customer
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experiences hang on and went backwards
15:17
sorry sorry sorry and this is what these
15:20
data plumbing tools are helping
15:21
businesses real-time collect data manage
15:23
connections and optimize data Qualtrics
15:25
is helping fabfitfun collect data to
15:27
understand customer wants and improve
15:29
business processes Salesforce helping
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adidas collect data to increase customer
15:33
input and improve products stripe and
15:36
slack collected
15:37
direct customers subscriber
15:38
relationships plaid and betterment
15:40
collect data to improve customer
15:41
consumer decision-making slack and
15:44
hellofresh manage connections to
15:46
organize internal and external
15:47
communication Twilio helping shot-up
15:50
shopify manage connections to
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communicate with customers and consumers
15:53
via multiple channels segments helping
15:56
Meredith manage connections to organize
15:58
customer data across IT systems
16:00
snowflake helping instacart optimize
16:03
data to improve analytics
16:04
recommendations of personalization
16:06
confluent helping a-kor optimize data to
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respond to customer events at scale look
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or helping Farfetch'd optimize data
16:13
discover business insights and optimize
16:15
fulfillment uipath helping Sumitomo
16:18
Mitsui optimize data to manage data
16:19
growth and eliminate inefficiencies a
16:21
lot of data plumbers helping a lot of
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companies collect data manage
16:25
connections and optimize data this is a
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quote from Frank bein at looker data is
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now fundamental to how people work in
16:33
the most successful companies have
16:34
intelligently integrated into everyone's
16:36
daily workflow data is the new
16:38
application the data and artificial
16:40
intelligence used properly can improve
16:41
customer satisfaction retail customers
16:44
like liked sharing data if it gives them
16:48
a better experience 91% prefer bayit
16:51
brands that provide personalized offers
16:52
and recommendations 83% willing to
16:55
passively share data in exchange for
16:56
personalized services Mark Zuckerberg is
16:59
has evolved a sinking on a lot of this
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and in early in 2019 said new
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regulations should protect your right to
17:05
choose how your information is used
17:07
while in a being able in companies to
17:09
use information for safety purposes and
17:11
provide services data volume and
17:14
utilization is evolving rapidly and
17:15
broadly this is data from IDC that looks
17:17
at the volume of data that is the data
17:21
volume 13% of structured and tag and is
17:23
rising rapidly data propagation is
17:26
expanding from endpoints to edge to core
17:28
and back and around data stewardship is
17:31
evolving Enterprise surpassed consumer
17:33
in 2018 and cloud is overtaking both if
17:36
we look at data volumes share amia leads
17:38
followed by faster rising China and the
17:40
u.s. is falling it's a great quote from
17:43
IDC that summarizes that and this is
17:46
from Astro teller at at Google X
17:49
basically was created a chart that
17:52
indicates technology changes is evolving
17:55
faster than human adaptability if it
17:57
feels like we're all drinking from a
17:58
data firehose it's because we are
18:02
Internet usage there are concerns and
18:04
there's goodness usage concern overload
18:07
Adele almost 26% of adults are almost
18:12
constantly online versus 21% three years
18:15
ago social media has lots of positive
18:17
attributes but lots of negative
18:18
attributes in digital media users are
18:21
taking action to reduce their usage and
18:23
businesses are also taking action
18:24
actions to help users monitor their
18:26
usage what's happened social media usage
18:29
has decelerated up 1% in 2018 versus 6%
18:33
in 2017 another concern is privacy
18:36
privacy concerns are high but they're
18:38
moderating regulators and businesses are
18:41
improving consumer privacy control in
18:44
digital media encrypted messaging and
18:46
traffic arising rapidly
18:48
another usage concern is problematic
18:50
content and activity more than half of
18:52
humanity and rising is online the
18:54
reality is people prefer negative news
18:57
this is a quote based on a survey in
18:59
2014 and this is a quote from 2019
19:03
no one attempting to derive an estimate
19:05
of the present conditions in New York
19:07
from the front page contents over many
19:08
newspapers could be blamed for
19:10
concluding that society is on the verge
19:12
of deplorable Anarchy 1909 James E
19:15
Rogers problematic content on the
19:19
Internet can be less filtered and more
19:21
amplified images and streaming can be
19:23
more powerful than text algorithms
19:25
algorithms can amplify users on patterns
19:28
social media can amplify trending topics
19:30
traditional media platforms can amplify
19:32
social media trending topics social
19:35
media can amplify bad behavior motivated
19:37
bad actors can amplify ideologies
19:40
unintended bad actors can amplify
19:42
misinformation extreme views can amplify
19:44
polarization with all that the internet
19:47
plant platforms are indeed driving
19:49
efforts to reduce problematic content
19:51
consumers and businesses or driving
19:53
efforts to moderate problematic content
19:55
this is a quote from Susan a CEO of
19:57
YouTube and Brian Murphy at the
19:59
Department of Homeland Security all
20:01
indicating week
20:02
do better but that progress is being
20:05
made but there's a lot more a lot more
20:07
work to be done with all that the
20:10
perception of the Internet in the u.s.
20:13
eighty-eight percent of people believe
20:14
the Internet has been mostly good for
20:17
them and 70 percent believe the Internet
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has been mostly good for society we're
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dealing with the age-old challenge of
20:23
amplifying good and minimizing bad and
20:25
it's taking rapid twists and turns
20:27
global relationships related to
20:29
information and data are evolving
20:31
differently and rapidly it's a quote
20:34
from Mark Smith at Politico and Brad
20:36
Smith Mark Scott and Brad Smith at
20:38
Microsoft in a sense the world wide web
20:40
I mean as we know it is over in its
20:43
place is something altogether different
20:44
a balkanized splinter net where your
20:46
experience online is determined by local
20:48
regulation we need a new generation of
20:50
laws to govern a new generation of tech
20:52
this is great data from Freedom House
20:55
that looks around the world and partly
20:58
free internet access is rising but free
21:01
not free access is falling this is a
21:03
framework for thinking about the way
21:05
Freedom House looks at this and this is
21:08
some data we compiled with the help from
21:09
a lot of other people that but we call
21:11
it the world wide web as a web of worlds
21:13
driven by rope local regulation and we
21:15
look at markets and the attributes of
21:16
markets with low internet regulation
21:17
like the US and the largest EU economies
21:20
moving to more regulation India and
21:23
China there's a great piece in foreign
21:26
affairs in September to October of 2018
21:29
that looks at all these markets around
21:31
the world this is a summary of some of
21:32
those highlights an open Internet can
21:35
benefit all constituents consumers want
21:37
to get want to get what they want
21:39
efficiently and inexpensively businesses
21:41
want to sell products and services
21:43
profitably and regulators want to
21:45
protect consumers businesses and social
21:46
institutions in an open Internet online
21:49
reviews can boost multi-sided
21:51
accountability it's a great quote from
21:52
Brian Chesky at Airbnb safety is our
21:55
number one principle at Airbnb the whole
21:57
thing only works if you feel safe we
21:59
have a few hundred people on there trust
22:00
a safety team who really work with the
22:01
Airbnb community to facilitate that 70
22:04
percent of our guests when they stay on
22:05
air baby leave a review which means we
22:08
build a system that allows the community
22:09
review properties on Airbnb and build
22:11
trust the chart on the right looks at
22:13
the growth and host and guest reviews on
22:15
Airbnb
22:16
reveals actions and reactions are
22:18
amplified on the internet can drive
22:19
transparency and rapid change for
22:21
consumers businesses and regulators this
22:23
looks at Twitter as a communication tool
22:25
for citizens Twitter as a communication
22:28
tool for consumers and businesses and
22:30
social media as a communication tool for
22:33
citizens and regulators the open
22:36
Internet can be messy but effective
22:37
consumer business and regulators key to
22:40
work together to amplify good and
22:41
minimize bad there's a quote on that and
22:43
are we at the first step in a long
22:45
journey recently as published in Vox
22:48
there was a crowdsource Alvar at
22:50
algorithmic Bill of Rights that was put
22:52
together and these things always start
22:54
in one way shape or form it was good
22:56
that it was endorsed by Jack Dorsey at
22:57
Twitter and I'll think a lot more to
22:59
come there in a highly regulated highly
23:03
regulated Internet can favor state
23:05
control if we look at freedom of speech
23:08
in the United States it's a
23:09
long-standing long-standing
23:12
long-standing thing of a lot of
23:14
importance to all of us have a quote
23:16
from 1927 and most recently 2017
23:20
Brandeis in 1927 if there be time to
23:23
expose through discussion the falsehood
23:25
and fallacies to avert the evil by the
23:27
processes of Education the remedy to be
23:30
applied is more speech not enforced
23:32
silence similar things said by Anthony
23:35
Kennedy a Supreme Court justice in 2017
23:38
and this is this contrasts with the
23:41
opinion about free speech and openness
23:44
around the world cyberattacks
23:47
sophistication and scope continue to
23:48
rise state-sponsored after attacks
23:51
arising large-scale data provider tax
23:53
for rising monetary extortion cases
23:55
arising attack the deduction dwell time
23:57
continues to fall cyber attacks
24:00
opportunities are created by online
24:01
system weaknesses two-factor
24:03
authentication incomplete adoption
24:06
limits effectiveness and cyberattacks
24:08
are increasingly focused on sensitive
24:10
data and cyberattacks our effects are
24:12
amplified by state sponsorship with all
24:16
that I'm going to move to some good
24:17
stuff which is work strong economic
24:20
indicators internet enabled services and
24:22
jobs are helping if we look at global
24:24
GDP China and US and India are rising
24:27
your your S is falling
24:29
cross-border trade is at twenty nine
24:31
percent of global GDP it's foundational
24:33
to the global economy and has been
24:35
growing for many years if we look at
24:38
global relative unemployment concerns
24:40
very high outside the US and low in the
24:43
u.s. in trending lower if we look at the
24:47
view of unemployment concerns around the
24:50
world the u.s. ranks much lower
24:51
unconcerned than many other countries
24:53
and this is an example of how it's been
24:56
trending lower specifically in in the US
24:58
consumer confidence index is high in
25:00
rising economy and unemployment
25:03
unemployment's at a 19 year low job
25:05
openings are at an all-time high and
25:06
wages are rising if we look at on-demand
25:09
work it's creating internet-enabled
25:11
opportunities and efficiencies this
25:13
looks at small business enable payment
25:15
processors specifically Square and
25:16
stripe and their growth this is a quote
25:19
from Tony at door - five percent of
25:21
America's restaurants business of 800
25:23
billion in annual sales is delivered
25:25
we're still in the very early innings in
25:27
the development of on-demand delivery
25:28
and services with a lot of opportunity
25:30
to help local merchants I showed this
25:32
slide earlier 56 million on-demand
25:34
consumers 7 million on-demand workers up
25:37
22 percent year-on-year checkers
25:40
platform for on for job applicants more
25:44
than 20 million people have been on the
25:46
platform since 2015 and growing rapidly
25:49
on-demand work is creating internet
25:51
enable benefits people that are getting
25:53
on-demand work were previously
25:55
unemployed they want to learn new skills
25:56
they were underemployed they want
25:58
flexible work hours this looks at the
26:00
trends it's a lot of the on-demand
26:01
platforms and their growth remote work
26:03
is also creating internet enabled work
26:05
opportunities and efficiency this looks
26:07
at the percent of Americans that work
26:08
remotely at 5 percent versus 3 percent
26:11
in 2000 as a PR is one of the greatest
26:13
examples of this and they they say that
26:17
the the co-founder CEO Wade says with
26:19
well-connected tools and processes any
26:21
remote employee can feel more focused
26:23
productive and in control of their time
26:25
and we believe that to be true benefits
26:27
of remote work number one flexible work
26:29
hours ability to travel and more time
26:32
with family and more time at home with a
26:36
little bit of a smile ask the question
26:38
are we moving to a new world was zoomed
26:40
by day and fortnight
26:41
night online education a market we many
26:45
of us have been hoping for and looking
26:46
at for a long time is really beginning
26:48
to have some big numbers and big growth
26:50
education costs are rising in the US as
26:53
is student debt post-secondary education
26:56
enrollment is slowing in in the US and
26:59
on online education learning offline
27:02
institutions are expanding their reach
27:03
if we look at online education
27:05
enrollment it's high across a diverse
27:07
base of universities public private
27:09
for-profit and private not-for-profit if
27:12
we look at online education courses top
27:14
offline institutions are ramping their
27:16
online offerings at a very rapid rate
27:18
2,000 most recently University of
27:20
Pennsylvania University of London
27:21
University of Michigan and UC Boulder
27:25
online education and learning platforms
27:27
excuse me the University of Colorado
27:29
Boulder I've spent too much time in
27:31
California online education learning
27:33
platforms scaling in different shapes
27:34
and sizes I'm just going to click click
27:37
through a bunch of companies that are
27:38
growing their user bases very rapidly
27:40
and and talk about what the categories
27:43
are online education program managers
27:45
this looks at the growth for you to you
27:47
online education marketplaces Coursera
27:50
online education marketplaces udemy
27:53
online education paying for a post
27:57
graduation income sharing to pay for the
27:59
education lambda school growing rapidly
28:01
their online education learning tools
28:03
check online education learning tools
28:05
Quizlet and also remind if we look
28:09
online education remote video chat VIP
28:12
kid is one of the global leaders here
28:13
with a very impressive growth trajectory
28:15
by jews virtual classrooms in india
28:18
online learning broadcast broad-based
28:21
video youtube educational content
28:23
growing very rapidly online education
28:26
job relevant skills Google's growth in
28:28
creating certificates for in-demand jobs
28:31
growing rapidly doing that in
28:33
collaboration with Coursera 80% of
28:35
Coursera's revenue comes from business
28:37
tech and data science people taking
28:40
courses for job relevant schools and the
28:42
number of companies that are paying for
28:44
those classes for their employees
28:46
continues to grow at a rapid pace so
28:49
online education high interest retention
28:51
and completion rates vary the paid
28:53
learners completed a high rate
28:55
the tourists do not create do not
28:57
complete it such a high rate online
28:59
education more growth more users and
29:01
more choices lowering the cost for
29:02
consumers
29:03
this looks at data from Arizona State
29:05
University and the good news for all of
29:07
you I'm about to end and then you can
29:09
look at this stuff online and the way
29:10
it's supposed to be viewed and I can
29:12
have some water
29:14
immigration yeah is important to us a
29:17
technology leadership and this is just
29:18
an update of a slide we've we've we've
29:20
updated before in the u.s. 60% of the
29:23
most highly valued tech companies are
29:24
founded by first or second generation
29:25
Americans 1.9 million employees this is
29:30
an update to USA Inc just one slide from
29:32
that 61% a USA entitlements account for
29:35
61 percent of government spending versus
29:38
42% 30 years ago and shows no sign of
29:41
stopping that rise no enough pulled some
29:45
great stuff together on health care and
29:46
again like education there are a lot of
29:48
trends that are really moving in the
29:49
right direction digital impact expanding
29:51
across the ecosystem health care we just
29:53
pulled two slides from that from that
29:55
section for here Healthcare is steadily
29:57
digitizing driven by consumers the
30:00
trends are very powerful and I think my
30:02
closing side is a is a slide with a
30:04
quote from Tim Cook healthcare
30:06
innovation Apple hardware and App
30:08
Store's leveraging research for
30:09
consumers Tim Cook said in January 2019
30:13
if you zoom out into the future and you
30:15
look back and ask the question what was
30:17
Apple's greatest contribution to mankind
30:19
it will be about health and those are
30:22
big words and with that I'm going to the
30:25
China section very quickly from Hill
30:27
House Capitol we look at WeChat this is
30:30
great stuff WeChat innovation evolution
30:32
from chat too many programs and payments
30:34
Ally pay from payments to a super app
30:36
200,000 many programs a billion users
30:39
70% use three financial services and
30:41
that's our disclaimer and thank you very
30:43
much