Two days ago Mary Meeker of KPCB presented her 2014 internet trends. It, in all its 164 slide glory, is below.

My takeaways.

1. We are now truly mobile and mobile first is a must. Ad dollars are going to move there.

2. Social networks have a lot of revenue upside.

3. Public tech company valuations and venture capital investments are well below their 2000 peak.

4. Outside of live events, such as sports, linear television is dying. It is all moving to on demand.

5. All companies should heed slide 161.