There's a "privacy paradox" surrounding data collection for profit, and that theme could come to dominate the internet in 2018, according to Mary Meeker.

More than half the world's population is now online, time spent on the internet is higher than many would like, and regulators are starting to question whether buying in is costing users.

In other words, growth means scrutiny.

"It's crucial to manage for unintended consequences," Meeker said in her presentation. "But it's irresponsible to stop innovation and progress."

Meeker, a partner at Kleiner Perkins Caufield & Byers and technology investing luminary, presented her annual report on internet trends Wednesday at Recode's Code Conference.

Her manifesto on the tech industry has become an annual event. Previous reports have called out burgeoning geographic regions, the rise of voice assistance and the increasingly consolidated advertising space.

This year's report highlighted, among others trends:

The influx of Coinbase users buying into the cryptocurrency craze

The rise of digital payments and friction-less mobile wallets

The growth of subscription services like Netflix, Stitch Fix and Spotify in both access and selection

Here's her full 2018 deck: