Wednesday, October 06, 2004

Mary Meeker at Web 2.0

Mary Meeker at Web 2.0
Mary Meeker at Web 2.0,
originally uploaded by Ted Shelton.
Talking about China -- points out that in 1850, China was 33% of the world's GDP. Today they are only back up to 4% but they are the fastest growing.

59 million Chinese Internet users

24 million Chinese broadband subscribers

15 million online gamers

The economic picture is enormously different in China --

GDP per capita -- $619 China $37,000 for US

Huge labor surplus still in China:

Opex per employee $6.5K in China vs $73K in the US and $333K for Microsoft

"In the middle of most towns in Europe is a church. In China it is a Kentucky Fried Chicken or a McDonalds or both -- pointing to the enormous commercialization of China."

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