MaryMeekerMay31,2017kpcb.com/InternetTrendsINTERNETTRENDS2017–CODECONFERENCEKPINTERNETTRENDS2017|PAGE2KPINTERNETTRENDS2017|PAGE2InternetTrends20171)GlobalInternetTrends=Solid…SlowingSmartphoneGrowth4-92)OnlineAdvertising(+Commerce)=IncreasinglyMeasurable+Actionable10-793)InteractiveGames=MotherlodeofTechProductInnovation+ModernLearning80-1504)Media=DistributionDisruption@TorridPace151-1775)TheCloud=AcceleratingChangeAcrossEnterprises178-1926)ChinaInternet=GoldenAgeofEntertainment+Transportation193-231(ProvidedbyHillhouseCapital)7)IndiaInternet=CompetitionContinuestoIntensify…ConsumersWinning232-2878)Healthcare@DigitalInflectionPoint288-3199)GlobalPublic/PrivateInternetCompanies…320-33310)SomeMacroThoughts…334-35111)ClosingThoughts…352-353KPINTERNETTRENDS2017|PAGE3Thanks...KleinerPerkinsPartnersAlexanderKrey&Ansel