Diving Into Mary Meeker's 294 Page Technology Report
Mike Mish Shedlock
Here are some slides that caught my eye. The comments beneath each chart are mine.
The search begins with Amazon and increasingly ends at Amazon.
Social Media Role in Product Purchases
Social media plays a huge role in purchases. This explains the ad revenue of Facebook.
Household Debt Highest Ever Despite Low Unemployment
Household debt is high and rising. The Fed blew another housing bubble (everything bubble really).
Disturbing Trends in Savings and Debt-to-Income Ratio
People save less and less. Don't let the percentage fool you. Most people don't save anything.
Relative Spending Increases: Shelter, Insurance, Healthcare
Where's the money going? Shelter. Not only is shelter the biggest expense, it has grown at the highest percentage.
Relative Spending Increases: Food, Entertainment, Apparel
I often get into debates with people regarding food. I claim it's a bargain. Why? There is little government interference.
Technology Disruption Curves
That fascinating chart explains what is about to happen with autonomous vehicles in the next decade.
History Says There Will Be Jobs
History says there will be plenty of jobs. I agree, although most don't. The question though, is what will those jobs pay? On that, I am not so optimistic vs consumer debt loads.
The US as a Business
Trump claims he will run the US like a business. When will he start?
US Debt-to-GDP Highest Since WWII
The US was able to grow at a fast clip following WWII because US productive capacity was not destroyed, unlike Europe and Japan. A baby boom followed. There is no savior on the horizon this time.
US Debt-to-GDP Vs. Other Countries
A global debt crisis awaits.
US Entitlement Spending
Clearly, the current path is not sustainable. However, the US will stay on that path as long as Congress fails to address the issue. And here's a hint: Congress will not address the issue. Boomers will die first.
Medicare and Medicaid
Thank you, Mary Meeker, for another excellent presentation.
Meeker is a partner at Kleiner Perkins Caufield & Byers. She presented her annual report on internet trends Wednesday at Recode's Code Conference.
Meeker has come a long way from her 2000 era "internet queen" persona.
CNBC provides a Scribd view of the presentation. I dislike embedded Scribd files so I downloaded the report and selected a baker's dozen set of charts that I liked.
As noted above, the US path is not sustainable. However, the US will stay on this path as long as Congress fails to address the issue.
Alternatively, millennials could hijack both houses of Congress and the executive branch as well. But would they renege or promises or make additional free money promises like universal income?
Trump said he would run the US like a business. But businesses don't lose money for 45 years and stay in business.
I believe Italy is a prelude to future US events. Populists will eventually take over.
For a discussion of what the eventual debt outcome may look like, please see Grave Consequences: Italy Bond Yields Soar, Protests Called, Euro Referendum.
Meanwhile, technology marches on.
Mike "Mish" Shedlock