RANCHO PALOS VERDES, California — Mary Meeker, a longtime Internet analyst and current partner at prominent VC firm Kleiner Perkins Caufield & Byers, dropped her annual information bomb on the crowd at the Code Conference here today.

This is the 20th anniversary of Meeker’s first report. You can view today’s presentation in its entirety here or via the embed at the bottom of this story.

As usual, this report is quite broad and covers some obvious trends. Keep that in mind as it jumps from one topic to the next. Now, let’s dive in.

Who uses the Internet?

Speaking on stage, Meeker stated that there are now 2.8 billion Internet users globally, up 8 percent in 2014, and that there are 2.1 billion smartphone users now, up 23 percent in 2014.

mary meeker mobile users

Advertising

“Mobile remains compelling” for advertising and monetization, said Meeker. “We remain very optimistic about mobile ad spending, and print remains way over-indexed for the time spent.”

“Increasingly, we’re looking at video on our small screens,” Meeker asserted.

mary meeker mobile ad

Messaging

Speaking of today’s messaging leaders, Meeker listed them as follows: WhatsApp, WeChat, Facebook Messenger, Kakao, and Snapchat. Meeker expects these apps to evolve into multipurpose content hubs over time. We’re already seeing this with Snapchat (think: Discover) and Facebook (think: Facebook Instant Articles).

mary meeker messaging apps

On-demand

Moving on, Meeker noted the increasingly on-demand nature of the technology industry. “Consumers increasingly expect that they can get what they want when they want it. … This fundamentally changes the underpinnings of business,” Meeker said.

mary meeker on-demand

Regulatory focus on online marketplaces like Airbnb, Uber, and Lyft is “evolving,” said Meeker. “We think there’s a shift going on here, where consumers are ‘voting’ by choosing to use these products.”

mary meeker on-demand 2

Diversity

Meeker later touched on diversity — an extremely sensitive topic for Kleiner Perkins Caufield & Byers.

“Diversity matters. It’s just good business. … The best decisions are often made by diverse groups of people,” she said.

For more context on this year’s report, check out our coverage of past Meeker Internet Trends reports for 2014, 2013, and 2012. You can also view the entire 2015 report below.

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