Over 25 per cent of U.S. adults are almost always online: Mary Meeker’s annual internet report


Meeker’s annual trend deck shows that growth in internet user numbers and smartphone sales is slowing because so many people—51 per cent of the world’s population—are already online. E-commerce makes up 15 per cent of retail sales, and is growing at six times the rate of brick-and-mortar shopping. Meeker also noted that immigration is “important to USA technology leadership,” and that 60 per cent of the country’s 25 most highly-valued tech companies were founded by first- or second-generation immigrants. The 333-slide report was released by her new venture capital firm, Bond Capital. (The Logic)

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Talking point: The last two trends are positive for Canada and its tech firms. The growing share of e-commerce has been particularly good for Shopify, Canada’s homegrown tech giant. Meeker featured the firm in her 2018 presentation as an example of online shopping’s growing scale; this year, it appeared on a key slide: the top public tech companies in the world by market capitalization. And, while Meeker’s slides did point to some Canadians who got away—six of the 66 first-generation immigrant founders from 46 “highly valued private tech companies” she listed were from Canada—recent U.S. policy changes are working in Canada’s favour. In December 2018, The Logic reported that thousands of skilled immigrants are leaving the U.S. for Canada. And, Canada’s underused program for immigrant entrepreneurs has seen an uptick over the last two years, coinciding with the Donald Trump administration’s plans to eliminate a founder visa and its crackdown on other immigrant programs.