Two key insights are that there’s still lots of upside for an increase in the number of smartphone users and that tablet shipments are growing faster than PCs ever did and there’s lots of growth ahead. There’s an interesting observation that with each new computing cycle (e.g. PC -> Smartphone) there has been a 10x increase in the installed base.
A past trend has been moving Internet functionality to apps. That functionality is now being unbundled from apps into multiple separate single-use apps.
The biggest ‘re-imagination’ as KPCB call it (opportunity?) is that people enabled with mobile devices and sensors are uploading troves of findable and shareable data. It’s still early but this area is evolving rapidly.