Ina Fried/Axios

OK. It's impossible to condense Mary Meeker's massive 300-page annual tech trends report, but here are a few highlights of what she just presented at Code Conference.

  • Internet advertising will surpass TV this year, with 85 percent of the growth going to Google and Facebook.
  • Smartphone growth continues to slow.
  • China is still huge. China Mobile seeing 30 percent usage growth, 12 percent user growth
  • India has 355 million Internet users with strong usage growth. But the key to the next 200 million is how quickly smartphone and mobile service prices drop.
  • Watching people play video games, aka eSports, is actually huge and growing fast
  • Healthcare is at a digital inflection point (But Meeker ran out of time to talk about that.)

The full slide deck is on Kleiner Perkins' site and embedded below.

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President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

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Illustration: Sarah Grillo/Axios

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Filing suggests Manhattan DA is investigating Trump for possible fraud

Photo: Brendan Smialowski/AFP

The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.

The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.