Mary Meeker (Morgan Stanley) talks in her recent state of the internet about disruptive innovation: new or incumbent players disrupting whole industries by offering cheap or free products and services (Google, Amazon… ) or by creating new markets (Apple, Facebook, Zynga… ).
One of the remarkable aspects of the recent evolution is how innovative also the more incumbent internet companies are. You’ll find concrete information about specific companies in the presentation – and note how of the 15 biggest public companies 9 are US based, 3 are Chinese companies, 2 Japanese (okay, one of those two being Yahoo Japan), 1 South Korean and… zero European.
Meeker also highlights the unusually high level of global innovation, for instance Facebook and Tencent (the largest social network in China) learning from each other’s playbooks.
Facebook has the focus on real-world friends, pictures and events, Tencent on virtual identities and customizable avatars – but both are incorporating each other’s strong points.