Good morning, Davos delegates and devotees!
We’re in the thick of it now. The thought leadership is flowing freely.
The future may not be so bright, but you still gotta wear shades: It will be sunny all day, with a high of -6°C (21°F).
What to watch for today
Joe Biden’s valedictory speech. He’s vice president for just two more days, and judging by some salty language in a big New York Times profile out yesterday, he may not pull many punches at the Congress Hall podium about the man preparing to move into the White House.
Governing globalization. Even the most ardent proponents of globalization in Davos acknowledge that the interconnection of economies needs to work better for more people. But how? Quartz’s Kevin Delaney moderates a panel with Swedish prime minister Stefan Löfven, economist Dambisa Moyo, and top execs from Microsoft and Wipro to seek answers. (This is a theme throughout the day—other sessions include “Squeezed and Angry: How to Fix the Middle-Class Crisis” and “A Positive Narrative for the Global Community.”)
Money for nothing. If, or when, robots take all the jobs, how will we support ourselves? A universal basic income is an increasingly popular idea, with supporters across the political spectrum. We’ll be watching an afternoon panel with intellectual heavy hitters talking about the feasibility and suitability of a basic income for all. Bone up beforehand with some background reading from the WEF and Quartz.
Party planner. McKinsey’s annual floor-filler is tonight, so put on your dancing shoes. (This year, though, you won’t bump into Justin Trudeau working the room, beer in hand.) Hit Japan Night’s ample buffet and wide whiskey selection for sustenance beforehand.
Who won day one?
The award goes to Chinese president Xi Jinping, and it wasn’t even close. Xi gave a ringing defense of globalization and rebuked Donald Trump (without addressing him directly) for upsetting the world order. He took the opportunity to go to Davos, the first Chinese head of state to do so, in order to seize the vacant role of the world’s foremost champion of globalization. His message, in short: Let’s fix what ails globalization, it’s nobody’s fault that it’s gone off the rails, and each country should work within whatever system suits them best (democracy is not a prerequisite).
The key quote: “Pursuing protection is just like locking oneself in a dark room. While wind and rain may be kept outside, so are light and air. No one will emerge as a winner in a trade war.”
For the Chinese corporate perspective on all this, Alibaba’s Jack Ma will speak about “the future of online trade and globalization” at the end of the day today.
More highlights from yesterday at the forum
Donald Trump, people person. Anthony Scaramucci, one of Trump’s top advisors, painted a sunny portrait of his boss, calling him “super compassionate.” But wait, there’s more: “He is a generous man. He loves people.” Scaramucci predicted that within a year Barack Obama and Trump would be “phenomenal” friends and playing golf together. So what is everyone so worried about?
A low blow. Edelman’s annual Trust Barometer survey revealed an “implosion” of trust in institutions, from businesses to government, NGOs, and especially the media. At a breakfast briefing, panelists looked to Paul Achleitner of Deutsche Bank for guidance, since public trust has fallen so far “we are all bankers now.”
When robots and gender equality collide. Hundreds packed into a breakfast run by Mercer about “Turning Disruption into Opportunity for Women and Business.” Left unchecked, the rise of AI and machine learning will disproportionately hurt women and minorities, it was noted, because automation will affect administrative jobs more than management ones. “It’s facile and naïve to think we can get rid of our biases,” said one exec.
How scary is AI? Not very, concluded a dinner discussion hosted by Cylance. Joi Ito of MIT compared AI to a child: It can be taught good habits, or bad ones. “Give it bad things to learn and it learns bad things. Give it good things, it learns good things,” added Stuart McClure of Cylance.
Further reading. Catch up on all the day’s action with liveblogs by the Guardian, BBC, and the WEF.
Nobody’s perfect. There was an error in a post highlighted in yesterday’s newsletter, spotted by a reader and WEF strategic partner. The organization gives partners a fifth badge if one of their standard four badge holders is a woman, but charges them full price for the ticket (27,000 francs).
Seen and heard
“I’m very positive. I’m sorry, but I am!”—A European CEO to Quartz
Quartz: “So are you here for the week?”
European city mayor: “No, I have to govern.”
Quartz, to a Canadian politico: “So Trudeau’s not coming?”
Response: “He wants to spend his time talking to Canadians.”
The Darwinian badge hierarchy of Davos, in a single sidewalk sign.
You know you’re in Davos when you’re party to a chat in which one Nobel prize winner incredulously asks a more-recent laureate, “You don’t have an agent yet?!”
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This is a special edition of the Quartz Daily Brief produced for attendees and others following the World Economic Forum in Davos. If you were forwarded this newsletter by a colleague, head of state, or Klaus Schwab himself, you can get your own copy for free by clicking here.
News from around the world
Auto and oil giants announced they’ll invest $10.7 billion in hydrogen-related products. Including Toyota, BMW, and Royal Dutch Shell, the 13 companies will also form a council to persuade policymakers that hydrogen is the way to go as the world transitions away from dirtier sources of energy. The investments will be made within five years, they said in an announcement issued from Davos.
Barack Obama sent $500 million to a UN climate fund… It was the second such payment made toward $3 billion pledged to the Green Climate Fund, designed to help developing countries switch to cleaner energy. Incoming president Donald Trump has called man-made climate change a hoax and could withhold the remaining amount. Republican senators have called the payments a waste of money.
… and commuted the sentence of Chelsea Manning. She is serving a 35-year sentence as a transgender woman in a male military prison, and twice tried to commit suicide last year. As a US Army private she gave hundreds of thousands of secret military and diplomatic documents to Wikileaks.
Nigeria mistakenly bombed a refugee camp. An airstrike meant for Boko Haram extremists instead killed more than 100 refugees and aid workers.
Matters of debate
The rules that have kept the world together since 1945 are under attack. Outgoing US ambassador to the UN Samantha Power had some stern words for Vladimir Putin.
Donald Trump is reviving the “Great Man” theory of history. The president-elect “resists analysis as a predictable, impersonal force.”
African mobile operators and startups should work together. Large telcos can financially support smaller firms and draw talent from them in return.
Surprising discoveries
A self-piloted flying car from Airbus is on the way. CEO Tom Enders said a prototype will take to the skies by the end of this year.
Fiji is getting useless donations from Australia. Instead of chainsaws, woolly sweaters, and high heels, aid agencies would rather citizens send cash instead.
Vampire bats have developed a taste for human blood. Scientists in Brazil found human DNA in feces samples from the hairy-legged winged mammals.
Putin thinks Russian prostitutes are “the best in the world.” Even so, he doesn’t believe allegations that Donald Trump made their acquaintance.
Fake news may lead to genocide in South Sudan. Falsehoods spread on social media are causing massacres in the world’s youngest country.
Our best wishes for an inspiring day at the forum. Please send any news, tips, globalization metaphors, and wistful Justin Trudeau memories to me, Jason Karaian, at jason@qz.com. The best way to keep up with news while you’re on the go this week is the Quartz app for iPhone and Android.
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