Mary Meeker is an American venture capitalist and former Wall Street securities analyst, founder and general partner at BOND, who has been called the "Queen of the Internet." Sh…
Mary Meeker is an American venture capitalist and former Wall Street securities analyst, founder and general partner at BOND, who has been called the "Queen of the Internet." ◦
She earned a B.A. in psychology from DePauw University (1981) and an MBA in finance from Cornell University (1986), and was born September 1959 in Portland, Indiana. ◦
At Morgan Stanley (1991-2010) she led technology research and co-published 'The Internet Report' with Chris DePuy in February 1996, which became known as 'the bible' for dot-com investors. ◦
She was a partner at Kleiner Perkins from December 2010 to September 2018, then founded BOND/Bond Capital, raising $1.2 billion for its debut fund and closing a second fund with $2 billion in March 2021. ◦
Fortune magazine described her in 2006 as 'absolutely first rate when it comes to spotting big-picture trends before they come into focus.' ◦
She is widely considered one of the most influential and forward-thinking technology leaders on the planet. ◦
Her investment approach is characterized as data-first: 'She doesn't invest in narratives. She invests in what the data says,' a thirty-year demonstration that research-first investing outperforms narrative-first investing across every market cycle. ◦
She believes that 'The work done before the investment, the research, the data, the framework, is where the returns are built. The check is just the expression of the work.' ◦
Her success stems from developing deep structural models of how technology industries operate rather than pursuing trendy narratives. ◦
She is notably optimistic, arguing AI has been improving far faster even than we realize with progress accelerating and no end in sight, and seeing AI as a powerful enhancer of education. ◦
She asks harder questions before writing checks rather than pursuing enthusiasm for sectors. ◦
Meeker spent roughly fifteen years building an unusually comprehensive model of how internet companies grow before she deployed a single dollar of venture capital, applying pattern recognition developed as an analyst to capital allocation as an investor. ◦
BOND operates with a small, senior-heavy partnership focused on companies that have already proven product-market fit. ◦
Her success stems from developing deep structural models of how technology industries operate rather than pursuing trendy narratives. ◦
She spent roughly fifteen years building an unusually comprehensive model of how internet companies grow before deploying venture capital, applying pattern recognition developed as an analyst to capital allocation as an investor. ◦
She believes that 'The work done before the investment, the research, the data, the framework, is where the returns are built. The check is just the expression of the work.' ◦
She led technology research at Morgan Stanley and co-published 'The Internet Report,' which became known as 'the bible' for dot-com investors. ◦
She is widely considered one of the most influential and forward-thinking technology leaders on the planet. ◦
Her 2025 AI Trends report documents AI adoption metrics, including that ChatGPT reached one million users in five days versus the iPhone's 74 days, AI inference costs dropped by 99.7 percent over two years, and AI companies reached $5 million in annualized revenue in 24 months versus SaaS companies' 37 months. ◦
She told Axios that on the AI moment, 'It's a period for lots of wealth creation and wealth destruction,' driven by 'intense competition the likes of which we've never seen before.' ◦
BOND combines Meeker's famous multi-hundred-page 'Trends' reports with late-stage investing, positioning itself as both a macro research house and capital provider. ◦
Her annual report serves as a globally-anticipated bellwether of the state of the world. ◦
Her 2025 AI Trends report grounds analysis in concrete examples, including that more than 10,000 doctors at Kaiser Permanente use an AI assistant to document patient visits, Stripe pushed a fraud-pattern catch rate from 57% to 97% overnight, and 27% of ride-hailing trips in San Francisco are handled by autonomous vehicles. ◦
Her 340-page report uses the word 'unprecedented' on 51 of its pages. ◦
She frames the AI moment as a period for 'lots of wealth creation and wealth destruction.' ◦
She warns that 'Early leaders fail when they fall behind on innovation or price themselves out of the market,' yet notes that OpenAI shows no signs of doing either and predicts it will be around for a long time. ◦
She warns of an AI 'space race' in which America ranks number one with nearly 150 large-scale AI systems but China is catching up with just over 100, framing AI competition as reshaping the global order. ◦
She is notably optimistic, arguing AI has been improving far faster even than we realize with progress accelerating and no end in sight. ◦
BOND positions itself as both a macro research house and capital provider, operating with a small, senior-heavy partnership focused on companies that have already proven product-market fit. ◦
She says that 'the companies that get the best developers often win. It's got to be the focus.' ◦
She argues that 'America has to be a place where the brightest people in the world want to come... Our tech ecosystem would not be where it is today without a lot of first-generation immigrants and even more second-generation immigrants.' ◦