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The WEF was once a place for CEOs to tout diversity initiatives and climate pledges. In a sign of th͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ 
 
sunny Davos
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January 21, 2025
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Davos

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Today in Davos
A numbered map of Davos.
  1. Davos man: endangered species
  2. What’s on today
  3. Stories you may have missed
  4. A mountain of money
  5. Davos fashion
  6. The art show you missed
  7. Heard on the Promenade
  8. Texting with Davos’ piano man

Also: Today in Trump, the president’s first full day in office.

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1

Davos Man, endangered species

A note from Liz Hoffman.

Peter Goodman, who popularized the moniker “Davos Man” in his book of the same name, described them as “so enriched by globalization and so native to its workings that they were effectively stateless, their interests and wealth flowing across borders, their estates and yachts sprinkled across continents.”

Conspicuous consumption aside, Davos Man is a product of the economic liberalism of the late 20th and early 21st century. Today’s CEOs, investors, and policymakers rose in a world that was steadily opening up. Where their money went, political reform seemed to follow, creating a virtuous feedback loop for global capitalism.

That world has fractured quickly, leaving Davos and its Men with a choice: embrace the change or fade into irrelevance. The World Economic Forum was once a place for CEOs to tout diversity initiatives and climate pledges. This year’s events are scrubbed of DEI language, and the USA House is a star-spangled cabana sponsored by a crypto venture.

In recent years the conference’s big draws have been Donald Trump and Javier Milei, who came to advertise their defiance. The All-In Pod, so influential in Republican circles, roundly mocked WEF from the ground last year with a musical number called “Oh Davos, Kumbaya.” Jamie Dimon chose the Alps backdrop to admit that Trump was essentially right on immigration, China, and tax reform.

“Collectivist experiments are never the solution,” Milei told the WEF crowd. The Davos order of the last three decades was a kind of collectivist experiment, and election after election last year tolled its failure.

So don’t confuse the men making news at Davos with Davos Men.

But if you can’t get enough of the Davos men, keep reading.

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2

What’s On Today

8 a.m.: A conversation with Sarah Friar, CFO of OpenAI @ Bloomberg House

11 a.m.: Special address by Ding Xuexiang, Vice-Premier of the People’s Republic of China @ Davos-Klosters

2.30 p.m.: Special address by Ukrainian President Volodymyr Zelenskyy @ Davos-Klosters

2.30 p.m.: WHO Director-General Dr. Tedros Adhanom Ghebreyesus @ Brain House

5 p.m.: A conversation between Israel’s President Isaac Herzog and CNN’s Fareed Zakaria @ Davos-Klosters

5 p.m.: Meet and greet with US Olympic skiing champions Daron Rahlves and Picabo Street, hosted by With Honor Action, McKinsey, and Exiger @ USA House Promenade 71

7 p.m.: Davos Politico party @ Schtzalp, cocktails and conversation followed by a sled run down the mountain

7.30 p.m.: Google media reception featuring Bill Nye and Google DeepMind CEO Demis Hassabis @ Google Haus at Alpine Inn

9 p.m.: Wine tasting with Binance, Circle, and SkyBridge @ Hotel Europe Promenade 63

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3

TL;DR

We read the big Davos thumb-suckers so you don’t have to:

Where is everyone?: “The disappointing guest list reinforces a growing sense among the Davos crowd that the world is drifting ever-further away from the WEF’s pro-trade, internationalist spirit,” writes Reuters’ dour Peter Thal Larsen of “The World’s Most Exclusive Watch Party.”

Look at the bright side: The shift in the political wind means “abandoning, at least for now, some of the ideas celebrated at Davos,” says Bloomberg. For CEOs, “Making noises about equality, diversity and the fierce urgency of climate change just might have to wait.”

Europe’s choice: In this new “survival of the fittest” era, allies must choose sides between the US and China, and “even Europe’s fittest may not survive,” per Politico.

Simpler times: A younger Elon Musk sent “miserable and craven and pathetic” emails begging for admission to Davos, according to former WEF comms chief Adrian Monck.

Protest watch: The balance of anti-WEFers seems to have tilted back from right to left (though someone did email us about WEF conspiracies to make people eat bugs.) Monday’s protesters included Austrian-German heiress Marlene Engelhorn who lamented that “just because we are born millionaires, or because we got lucky once — and call that self-made — we now get to influence politicians worldwide with our political preferences.”

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4

Davos Dollars

A chart showing the WEF’s revenue for the past decade.

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5

Davos style through the years

 
Liz Hoffman
Liz Hoffman
 

Davos is, first and foremost, a place to be seen; its main drag is called the Promenade for a reason. And the star of this alpine runway are the parkas, which get more airtime than the tailored suits under them.

We asked everyone’s favorite online fashion critic, Derek Guy, aka the Twitter menswear guy and author of the Die, Workwear! blog, to sift through the Davos archives with us. He was mostly unimpressed from about 2005 onward. “As tailored clothing has slowly disappeared, so has the dress coat,” he said. Performance sportswear for miles.

Call it the decline of conspicuous consumption. “If you look at the Wall Street guys today, they’re mostly not wearing Rolexes or Pateks,” Guy tells Semafor. “The flex is that you’re a mountain biker and wearing the digital exercise watch.”

David Rubenstein, 2024: Guy: Historically, it would be very weird to wear such a casual sportswear garment over a pinstripe suit. But the world has unfortunately moved on from dress coats.
Hollie Adams/Bloomberg via Getty
Jamie Dimon, 2015: The beginning of the high-end parka era and the death of wool. In my opinion, Arc’teryx is too casual to be worn over tailoring.
David A.Grogan/CNBC/NBCU Photo Bank/NBCUniversal via Getty
 Sir Martin Sorrel, 2014: This much fur suggests you rob your own country. I want to say it’s coyote.
Simon Dawson/Bloomberg via Getty

See more examples of how Davos parkas have changed through the years. →

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6

Sporty Davos won’t pay for art

Ernst Ludwig Kirchner’s Bahnhof Königstein.

The Kirchner Museum Davos, a coveted events venue this week, has lost a prized collection after failing to persuade the local citizenry to pay for an extension to its building.

Work by Kirchner as well as Francis Bacon, Pierre Soulages and Louise Bourgeois, assembled by German fashion entrepreneur Uwe Holy, shipped out earlier this month after voters rejected plans that municipal authorities nearly unanimously approved to spend $4.4 million to expand the museum on the promenade.

Museum director Katharina Beisiegel told The Art Newspaper that Davosians will come to regret their decision.

“Davos is a sports city and for culture, things are more difficult,” she said. “But the snow will become less plentiful, that is a fact. Davos has to remain attractive for tourists in 20 or 30 years from now.”

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Live Journalism

Rapid advancements in artificial intelligence present a transformative opportunity to drive the global energy and climate transition. Join Ricardo Manuel Falú, AES Executive Vice President, Chief Operating Officer, and President of New Energy Technologies; and Jason Bordoff, Founding Director of the Center on Global Energy Policy at Columbia University SIPA, as they join Semafor’s Technology Editor, Reed Albergotti, as they explore how AI can enhance mitigation efforts, support adaptation strategies, and develop the infrastructure for a low-carbon future.

Jan. 22, 2025 | Davos, Switzerland | Request Invitation

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7

Seen and Overheard

Businessman Bill Browder in 2018.
Henry Nicholls/Reuters
  • “We are all playing fantasy football with Ukraine... Nobody discusses what Putin’s ideas are. We are all smoking dope if we think Putin is going to accept anything that has been cooked up until now.” — Bill Browder, financier
  • “There is a risk in any country with tariffs that you need to, as a company, pass it on to the customers.” — Jesper Brodin, CEO of Ingka Group
A vandalized storefront in Davos, Switzerland.
Liz Hoffman/Semafor
  • “ESG Branding? Gone!” — Overheard on the Promenade
  • “I take the pills. You know, the funny pills.” — A server at the Hotel Seehof on getting through Davos week.
  • Night Bites by Uber Eats is back for a second year. Uber teamed up with local restaurant DRDOG to serve free gourmet “Davos Dogs” and Davos-brewed Monsteiner beer. Head down to the Uber Pavillion at Promenade 63 from 10 p.m. to midnight from Tuesday to Thursday to get your free hot dogs and beer.
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Today in Trump
  • Tuesday is Donald Trump’s first full day in office of his second term. He’s slated to attend a prayer service at the Washington National Cathedral, as is customary.
  • He enters the day after signing dozens of executive orders addressing energy, immigration, and governance. Attention will quickly turn to Trump’s legislative agenda, as Republicans look to settle disagreements on how best to move forward with sweeping tax and immigration policy plans.
  • Trump inherited a number of security and foreign policy challenges upon taking office. Semafor reported that the outgoing Biden homeland security team urged Trump officials to focus on a number of pressing threats, including Iranian plots against dissidents and current and former US officials.
  • Trump’s team could begin large-scale immigration raids as soon as Tuesday.
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8

One Good Text

Since the mid-1990s, one entertainer from Halifax, Nova Scotia has had Davos-goers eating — or singing — out of the palm of his hand. Barry Colson has accompanied warbling world leaders, tech titans, and Wall Street billionaires in late night karaoke sessions around his piano. Some have gone on to book him for their weddings. You can catch him this week at Barry’s Piano Bar (Cloudflare Haus) at Promenade 37.

Andrew Edgecliffe-Johnson: What will this year’s most requested song be? Barry Colson: The answer to the 1st question also applies to pretty-well every other venue where I perform. I bet you can guess the answer. Drum roll please (BRRRRRRRRRRRRR). It’s: THE PIANO MAN AEJ: And what was it when you first started playing in Davos? BC: That’s tough. I have to go wayyyyyy back... I think the answer may also be Piano Man, but I do recall playing Great Balls Of Fire quite a lot.
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Semafor Spotlight
A graphic saying “A great read from Semafor Principals.”Liz Sherwood-Randall.
Nathan Howard/Reuters

Joe Biden’s White House homeland security team urged Trump’s team to focus on a number of major threats that include Iran’s plots against dissidents and current and former US officials, Semafor’s Morgan Chalfant scooped.

Liz Sherwood-Randall, Biden’s top homeland security adviser, briefed the incoming Trump team headed by Stephen Miller on seven top priorities.

For more on the Trump transition, subscribe to Semafor’s daily Principals newsletter. →

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