So I was thinking about the stats that I posted yesterday about global internet users. North America makes up about 20% of all Internet users. But the Internet revenues in North America are certainly greater than 50% of all Internet revenues, although I say that without the benefit of any numbers.

I would like a chart of revenue/user in each major geography. I suspect that North America would be the highest, followed closely by Europe. After that, I suspect Latin America. Then Asia and Middle East/Africa.

Maybe there's a proxy out there we can use. Maybe it's Amazon. Maybe it's eBay and the other major online auction sites (Mercado Libre and a number of asian services).

As investors like us start thinking about how to allocate capital to a global internet, it would be very useful to focus on revenue/user instead of just global audience.

Of course, that's already happening because North America is only 20% of the global internet audience but it attracts well over 80% of the investment capital. And that will change. It already is.