Shock when Mary Meeker says "Mobile Internet will be Huge"

There was shock and even awe today when Mary Meeker of Morgan Stanley said the Mobile Internet "will be huge":

The Morgan Stanley analyst says that the world is currently in the midst of the fifth major technology cycle of the past half a century. The previous four were the mainframe era of the 1950s and 60s, the mini-computer era of the 1970s and the desktop Internet era of the 80s. The current cycle is the era of the mobile Internet, she says — predicting that within the next five years “more users will connect to the Internet over mobile devices than desktop PCs.” As she puts it on one of the slides in the report: “Rapid Ramp of Mobile Internet Usage Will be a Boon to Consumers and Some Companies Will Likely Win Big (Potentially Very Big) While Many Will Wonder What Just Happened.”

"Some companies will do very well" - now that is a devastating insight.

Those whose memories go back to Ms Meeker in the DotCom era are absolutely stunned, stunned I say! by this walk on the wild side. Throughout that period she was the very model of the carefully considered forecaster, a paragon of predictive parsimony, a doyenne of discriminating, dispassionate data-driven delivery, an angel of ambivalent analysis

Or then again............