EDITOR'S NOTE Guete Morge. The annual World Economic Forum conference took place in Davos this week, and boy, was it a doozy. Highlights include: - President Trump's about-face on imposing tariffs over Greenland thanks to the prospect of a NATO deal (details still TBD) giving all of Europe whiplash.
- Canadian PM Mark Carney's and California Gov. Gavin Newsom's feuds with Trump got taken to the next level.
- Elon Musk making his first-ever appearance at the event, which he has long derided, and telling everyone that robots will eventually outnumber humans.
- More AI talk than even CES had.
- And French President Emmanuel Macron doing the most anyone has done for aviators since Tom Cruise.
But today, we're looking beyond all that and zooming out on Davos, from our Brew crewmates' impressions of what it was like to spend the week there, to the history of the conference and the conspiracy theories it attracts, to how the locals make bank off the visiting luminaries. And, of course, we'll talk about what everyone wore. So, read on for the best Davos experience you can have without access to a private jet. |
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ON THE GROUND We've all seen the headlines out of Davos, but that's not the same thing as inhaling Alpine air next to a technocrat. Luckily, Morning Brew's own Neal Freyman and Toby Howell were there. And while they may not have had the same exact experience as world leaders and AI CEOs (they flew commercial—but there was a celeb on their flight home), they're happy to dish on what being in Davos is really like. Here's what Neal and Toby had to say about their first time attending: Our main impression of Davos is that it's one long line of (unmoving) black Uber cars. The traffic is truly horrible, and we can understand why why Davos co-chair Larry Fink is reportedly thinking of moving it out of the town, because it's outgrown it. It's all about the "houses." A lot of the action happens outside the big talks at pop-up spaces hosted by companies (and even countries). You can learn all about that here. Companies go into these retail stores, completely gut them to incorporate their branding, and then it all returns to normal after the WEF. Pinterest had the best-looking house. They called it Pinterest Platz. For some reason, the two biggest lines we saw all week were to get into Qualcomm's house. It's an all-European affair in terms of the logistics. Uber drivers, service providers, AV teams, and more all descend on Davos from abroad to work this week. For example, we met an English carpenter at a bar who was there to build Bloomberg's set. If you thought Washington Square Park was bad for man on the street videos…Davos is worse. There are many, many content creators and newscasters doing hits and asking you questions along the street. All the reporters were jostling for space to either get specific mountain vistas or the USA house as their backgrounds. The schedules are famously intense and long. There are often structured breakfasts that begin at 7:30am, and then many parties that don't start until 10pm. We…did not go to those parties, but apparently, people just don't sleep all week long. Indonesia house had some DJ ripping on the last night. It seemed like a club. We were jealous. There are multiple "Davos"es. There's the one you see on TV, with the big geopolitical speeches and panels at the Congress center. Very few people can get into those, just VIPs and media (it feels like high school, as Scott Galloway said, in terms of the badge color hierarchy). But most of "Davos" for attendees is made up of what are known as "bilats," or bilaterals, which are just business meetings outside of the WEF. Everyone makes small talk by saying, "Soooooo, how's your Davos going?" |
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Together With Indeed Having the right talent strategy is a competitive edge—but it's data that acts as the compass. Indeed attended the World Economic Forum's annual meeting in Davos this week. They shared the inside scoop on all things hiring, and those insights were also released through their Global Labor Market and Workforce Trends report. As a leading two-sided talent marketplace, Indeed sees trends in how people search for jobs and how employers compete for talent, and their report explores real-time insights from both employers and job seekers across multiple countries to reveal: - where job opportunities are growing
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Learn more. |
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ORIGINS Why do the world's rich and powerful annually descend en masse on an isolated ski town in the Swiss Alps? It all started in 1971, when German business professor Klaus Schwab invited European business leaders to Davos to discuss how they could compete with US companies. More than five decades later, the world's rich and powerful are still making the trek to Davos, because what's a ski town without moguls? The hills are alive: When Schwab organized the first gathering, it was called the European Management Symposium, but the conference became known as the World Economic Forum in 1987, as it outgrew that name and its mission expanded. According to the New York Times, political leaders started getting invited to the annual event in 1974. In 1976, additional speakers, like consumer rights advocate Ralph Nader (who wasn't a political candidate yet), joined the mix. By that time, the conference had grown into a membership group and started tackling global issues, like international conflict, poverty, and the environment. Now, both the organization and the annual Davos meeting are called the World Economic Forum (WEF). Let's make a deal Today, the forum is kind of like going to college: There are periods of serious work interspersed with networking and partying. Those elements—and the fact that many of the world's elites are all in one place—have led to some major breakthroughs: - In 1988, Greece and Turkey dialed down tensions with a no-war agreement, fittingly called the Davos Declaration.
- In 1989, Davos hosted the first ministerial-level meeting between North and South Korea.
- In 1994, then Israeli Foreign Minister Shimon Peres and Palestine Liberation Organization leader Yasser Arafat reached a tentative deal on settlements in Gaza and Jericho.
- In 2000, Gavi, a public–private vaccine alliance, was launched at Davos. It has led to the vaccination of more than 1.2 billion children, according to the organization.
End of an era: Schwab, the forum's founder, who is now 87, resigned as WEF executive chair earlier this year after being accused of using the forum for personal enrichment. An investigation found "minor irregularities," but cleared him of "material wrongdoing." With Schwab sidelined, BlackRock CEO Larry Fink and Roche's André Hoffmann ran point for this year's event as interim co-chairs.—BC | | |
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TRAVEL Was it worth it for Fortune 500 execs and heads of state to spend millions and slog through the slushy Alps last week in Davos? For locals and Davos property owners, absolutely. The small Swiss ski town gets a major economic boost every year as out-of-town businesses pay exorbitant prices to rent out their retail spaces, while locals charge double (sometimes triple) the normal cost for lodging, and hotels are swarmed with high-profile guests. Davos is a year-round destination: It's a luxury winter sports hub with a history as the place where European tuberculosis patients would visit during the summer to get some fresh mountain air. But for roughly five days every year, it's something more, and the town cashes in: - Last year, Ordinary Things YouTuber Josh Otten said he paid 800 euros (about $930 a night) for two beds in a non-private room at a hostel in town.
- The cost for a private chalet—since tech moguls aren't going to slum it in a bunk bed—is estimated to cost around $140,000 for the week.
- A three-bedroom apartment in Churwalden, about 20 miles outside of Davos, costs $1,727 per night during the week of the WEF, compared to $392 per night two months later in March.
Big names moving in. During the conference, local salons, lingerie stores, and even churches are converted into meeting spaces and swanky brand hubs. One clothing boutique owner said she turned down 50,000 Swiss francs (~$62,767) in order to stay open for locals during Davos. Two years ago, Colombian President Gustavo Petro got in hot water for the extravagance of renting a Davos venue near the city center for roughly $1.2 million to promote the country as a tourist destination.—MM | | |
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GEOPOLITICS When conspiracy theorists use "they," that "they" that's controlling your life is usually a faceless group of powerful people making decisions behind closed doors. So, in that regard, it's easy to see why the annual gathering of billionaires at Davos has become a focal point in communities where people do their own research. The people who believe Davos attendees are out to get them have always existed, but, as with other niche interests, social media amplified those conspiracy theories, and they now reach a wider audience. Some that have gained traction in recent years include: - Some people interpreted the WEF's 2021 theme, "The Great Reset," as globalists releasing the coronavirus to create an economic collapse and strip away the rights of citizens, a view pushed by the likes of Glenn Beck, Alex Jones, and Tucker Carlson.
- To save the planet, the elite would force people to stop eating meat and start eating insects, perhaps the first theory that shines a light on Big Insect.
- The WEF "appointed" Kevin McCarthy to be speaker of the House, an idea that the Associated Press found resulted from people not understanding the title "Majority Leader."
The threat of dis/misinformation: While some conspiracy theories can be harmless—no, the NYC bagel place isn't messing up your order because they know you're from Boston—they can also have a way of sowing distrust in a society…which runs exactly contrary to the conference's goals of international cooperation. At Davos in 2023, New York Times chairman and publisher AG Sulzberger said about the danger of disinformation: "Once you see trust decline, what you then see is a society start to fracture, and so you see people fracture along tribal lines and, you know, that immediately undermines pluralism."—DL | | |
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CULTURE That's one of the biggest questions surrounding the World Economic Forum's Annual Meeting, aside from who's going and what the heck they're even doing there. Fixing the world's problems may be the stated goal, but if you send world leaders to a ski town, they're gonna flex their quiet wintertime luxury, too. The classics of high-end outerwear, like Italian wool and sheepskin collars, are still a common sight at Davos, but now, so are sportier parkas—a former faux pas for formal attire. "The world has unfortunately moved on from dress coats," Derek Guy, the internet menswear commentator known as @dieworkwear, told Semafor last year for a piece about Davos fashion. The pendulum could have swung back a bit from sportswear this year, because who needs performance warmth when the sun is beating and temperatures are as high as the mid-40s? Here's how some of this year's WEF attendees shielded themselves from the milder-than-usual elements:  Fabrice Coffrini/AFPEven if it had snowed, there's probably nothing that could have stopped Nvidia CEO Jensen Huang from making his Davos debut in his signature look: a black leather jacket.  Mandel Ngan/AFPPresident Trump sported a long black coat and gloves.  Chip Somodevilla/Getty ImagesSecretary of State Marco Rubio also wore a simple dress coat, while White House Press Secretary Karoline Leavitt stepped off Air Force One in a leopard-print trench coat.  Fabrice Coffrini/AFPAmnesty International Secretary General Agnes Callamard kept it light with a colorful patterned blazer and a loose scarf.  Chip Somodevilla/GettyIn a sea of conventional suits, European Central Bank President Christine Lagarde—seated here next to Huang and Apple CEO Tim Cook—opted for a turtleneck and tailored dark grey jacket.  Fabrice Coffrini/AFPHonorable mention: Emmanuel Macron's blue aviators. Due to a burst blood vessel, the French president kept his eyes covered, Top Gun style, which boosted the Italian sunglasses-maker's stock by 70% and led to so many orders that its website crashed, Bloomberg reported.—ML | | |
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Learn: See how the World Economic Forum has changed since 1971. Explore: Where else do billionaires hang out together? Buy: Support Davos's professional hockey team and its amazing logo. Devour: When in Switzerland, you eat raclette. Job insights in sight: Indeed sees real-time trends via employees and employers. Find them all in Indeed's newly released 2026 Jobs and Hiring Trends report.* *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission. |
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