Asa Mathat


Mary Meeker has some first-hand experience with the downside of tech bubbles, but the Kleiner Perkins partner says the market is nowhere near the frothy heights of the dot-com era.

During her eagerly awaited annual Internet trends report at the Code Conference on Wednesday, Meeker presented a trio of slides that drew sharp distinctions from the tech bubble at the turn of the last century.

The B-word debate has been heating up in Silicon Valley lately, with private-market valuations climbing even as public tech stocks remain in a slump.

Meeker noted, however, that 2013 tech initial public offerings were 73 percent below 1999 levels and that venture financings in the sector last year were 77 percent below the peak level in 2000.

In addition, Meeker said that tech companies currently represent 19 percent of the S&P 500, compared to 35 percent in March 2000.

“So the net of that, on a relative basis, we think there’s still … a lot of opportunity,” she said.



Rick Noel
Rick Noel

Hi James. Excellent post. Mary Meeker is amazing! I look forward to her Internet trends insights each May. 

Mary's slides from the Code Conference are all over the net but cannot find a video of her delivering them. Let me know if such a video exists online as I would really love to see her presentation of the material. Thanks!


Didn't she have much the same "take" in March of 2000?  And, even after the "crash of April 2000?"

ElizCrane moderator Re/code

@Rick Noel We will be publishing the full videos of all the sessions in the days following the conference.


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