If we were to rank all of these websites according to their traffic numbers, we would see a classic power law distribution. At the low end, the vast majority of these websites would be inactive, receiving little to no traffic. On the upper end of the ranking though, a handful of websites receive the lion’s share of internet traffic. This visualization, using data from SimilarWeb, takes a look at the 50 websites that currently sit at the top of the ranking.
Which Websites Get the Most Traffic?
Topping the list of most-visited websites in the world is, of course, Google. With over 3.5 billion searches per day, Google has cemented its position as the go-to source for information on the internet. But Google’s dominance doesn’t stop there. The company also owns YouTube, the second-most popular website in the world. Together, Google and YouTube have more traffic than the next 48 websites combined. The power of YouTube, in particular, is sometimes not fully understood. The video platform is the second largest search engine in the world after Google. As well, YouTube has the second highest duration-of-visit numbers in this top 50 ranking. (First place goes to the Chinese video sharing website, Bilibili.) But Google and YouTube aren’t the only big players on the internet. Other websites in the top 50 ranking include social media giants Facebook, Instagram, and TikTok. In particular, TikTok has seen a surge in popularity in recent years and is now one of the most popular social media platforms in the world. Here’s the full top 50 ranking table form: Notable companies that have fallen out of the top 50 since our last version of this visualization are Walmart and PayPal. Notable entrants into the top 50 are Samsung and the New York Times.
The Geography of the 50 Most-Visited Websites
Russia, China, Japan, and South Korea round out the top five. View static image Things get interesting in the “other” category, which includes six websites. Two spots are taken up by Aaj Tak and Globo, which are large media publications in India and Brazil, respectively. The remaining four websites—XVideos, PornHub, XHamster, and XNXX—specialize in adult content, and are located in a variety of countries. These are often referred to as “tube sites” since they are built on the YouTube model. Realsrv, the only adult-oriented site in the top 50 located in the U.S., is interesting to delve into as well, since it’s far from a household name. The website essentially supports advertising efforts by redirecting users away from the content they were viewing over to another page (generally premium adult content). This is one of the key ways that adult websites earn revenue. Source: SimilarWeb Notes: Websites listed include “all meaningful subdomains”, and categories in the graphic follow SimilarWeb’s categorization system. This is the third version of this graphic. As with previous versions, we aim to use data from November for the sake of consistency and to avoid seasonal fluctuations in traffic. One important detail to point out is that website traffic does not include app traffic, which is why popular platforms like WeChat don’t appear in this ranking. on But fast forward to the end of last week, and SVB was shuttered by regulators after a panic-induced bank run. So, how exactly did this happen? We dig in below.
Road to a Bank Run
SVB and its customers generally thrived during the low interest rate era, but as rates rose, SVB found itself more exposed to risk than a typical bank. Even so, at the end of 2022, the bank’s balance sheet showed no cause for alarm.
As well, the bank was viewed positively in a number of places. Most Wall Street analyst ratings were overwhelmingly positive on the bank’s stock, and Forbes had just added the bank to its Financial All-Stars list. Outward signs of trouble emerged on Wednesday, March 8th, when SVB surprised investors with news that the bank needed to raise more than $2 billion to shore up its balance sheet. The reaction from prominent venture capitalists was not positive, with Coatue Management, Union Square Ventures, and Peter Thiel’s Founders Fund moving to limit exposure to the 40-year-old bank. The influence of these firms is believed to have added fuel to the fire, and a bank run ensued. Also influencing decision making was the fact that SVB had the highest percentage of uninsured domestic deposits of all big banks. These totaled nearly $152 billion, or about 97% of all deposits. By the end of the day, customers had tried to withdraw $42 billion in deposits.
What Triggered the SVB Collapse?
While the collapse of SVB took place over the course of 44 hours, its roots trace back to the early pandemic years. In 2021, U.S. venture capital-backed companies raised a record $330 billion—double the amount seen in 2020. At the time, interest rates were at rock-bottom levels to help buoy the economy. Matt Levine sums up the situation well: “When interest rates are low everywhere, a dollar in 20 years is about as good as a dollar today, so a startup whose business model is “we will lose money for a decade building artificial intelligence, and then rake in lots of money in the far future” sounds pretty good. When interest rates are higher, a dollar today is better than a dollar tomorrow, so investors want cash flows. When interest rates were low for a long time, and suddenly become high, all the money that was rushing to your customers is suddenly cut off.” Source: Pitchbook Why is this important? During this time, SVB received billions of dollars from these venture-backed clients. In one year alone, their deposits increased 100%. They took these funds and invested them in longer-term bonds. As a result, this created a dangerous trap as the company expected rates would remain low. During this time, SVB invested in bonds at the top of the market. As interest rates rose higher and bond prices declined, SVB started taking major losses on their long-term bond holdings.
Losses Fueling a Liquidity Crunch
When SVB reported its fourth quarter results in early 2023, Moody’s Investor Service, a credit rating agency took notice. In early March, it said that SVB was at high risk for a downgrade due to its significant unrealized losses. In response, SVB looked to sell $2 billion of its investments at a loss to help boost liquidity for its struggling balance sheet. Soon, more hedge funds and venture investors realized SVB could be on thin ice. Depositors withdrew funds in droves, spurring a liquidity squeeze and prompting California regulators and the FDIC to step in and shut down the bank.
What Happens Now?
While much of SVB’s activity was focused on the tech sector, the bank’s shocking collapse has rattled a financial sector that is already on edge.
The four biggest U.S. banks lost a combined $52 billion the day before the SVB collapse. On Friday, other banking stocks saw double-digit drops, including Signature Bank (-23%), First Republic (-15%), and Silvergate Capital (-11%).
Source: Morningstar Direct. *Represents March 9 data, trading halted on March 10.
When the dust settles, it’s hard to predict the ripple effects that will emerge from this dramatic event. For investors, the Secretary of the Treasury Janet Yellen announced confidence in the banking system remaining resilient, noting that regulators have the proper tools in response to the issue.
But others have seen trouble brewing as far back as 2020 (or earlier) when commercial banking assets were skyrocketing and banks were buying bonds when rates were low.
