According to a 2010 presentation by Mary Meeker, head of global technology research for Morgan Stanley, businesses spend too much of their advertising budget in the wrong places. In 2009, for example, companies spent 26 percent of their ad dollars on print, while their customers spent only 12 percent of their media consumption time there. Internet advertising took only 13 percent of ad budgets, yet people reported spending 28 percent of their media-use time there. eMarketer, a research and analysis firm for digital media and marketing, notes that in 2011, the combined newspaper and magazine advertising spend is $4 billion more than for Internet advertising. They project the trend reverses in 2012, with Internet spend leading by $2.9 billion.