Very interesting presentation on the state of the Internet. From 2009 but well worth a read.
The first thing to note is how the shape of the Internet has changed. with the growth of private peerings between ISP's and CDN's to facilitate access to all your favorite websites content like You Tube and Google, Microsoft, Akamai, Limelight etc.
Also a very interesting figure showing rapid decline in revenue globally for IP transit while at the same time a rapid acceleration in revenue for online advertising. While the IP transit revenue is split across multiple companies, there are very few online advertising companies.......Clearly IP transit is not a business to be getting into.
