Morgan Stanley analyst Mary Meeker said that Internet advertising is expected to reach $50 billion and that mobile commerce is expected to outpace e-commerce. Meeker was called the “Queen of the Net” by Barron’s in 1998.
“We are trying to invest in the kinds of companies she’ll mention in her reports,” said investor and Internet billionaire Marc Andreessen in an interview. Andreessen’s venture firm bought stake in companies that Meeker favored like Skype and Zynga.
In 2003, the U.S. Securities and Exchange Commission accused Morgan Stanley and other financial companies of skewed dot-com analysis after the Nasdaq lost 78% of its value. The companies had settled for $1.4 billion.
Meeker ended up faring better than other analysts such as Henry Blodget. Blodget was banned for life from the securities industry, but he is well off after starting The Business Insider blog network. New York Attorney General Elliot Spitzer led the probe.