Mary Meeker’s massive slide show is a must for entrepreneurs and investors who look forward to the Kleiner Perkins’ executive and her team’s annual state of the Internet report.

In releasing the 2018 report on Wednesday, Meeker outlined challenges and opportunities.

“At 3.6B, the number of Internet users has surpassed half the world’s population. When markets reach mainstream, new growth gets harder to find – evinced by 0% new smartphone unit shipment growth in 2017,” she wrote in a PDF version accompanying the mammoth report of slides and graphics.

“Internet usage growth is solid while many believe it’s higher than it should be,” she added.

“Reality is the dynamics of global innovation and competition are driving product improvements, which, in turn, are driving usage [and] monetization.

“Many usability improvements are based on data – collected during the taps / clicks / movements of mobile device users. This creates a privacy paradox…

“Internet Companies continue to make low-priced services better, in part, from user data.

“Internet Users continue to increase time spent on Internet services based on perceived value. Regulators want to ensure user data is not used ‘improperly.’

“Scrutiny is rising on all sides – users / businesses / regulators.

“Technology-driven trends are changing so rapidly that it’s rare when one side fully understands the other…setting the stage for reactions that can have unintended consequences. And, not all countries & actors look at the issues through the same lens.”

To read much more and access the slide show, visit the KPCB report website.