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Greetings, Davos delegates and WEF watchers!
From climate change to trade to the aftermath of the covid vaccine inequities, the setbacks to cooperation between the global north and south demand a reckoning—or at least a high-profile panel at Davos. The honors go to Bill Gates, plus the leaders of Rwanda, Colombia, the Netherlands, and the World Trade Organization. The WEF is planning for a crowd; the “Addressing the North-South Schism” session goes down at 11:15 am CET in Congress Hall.
Speaking of Congress Hall, the event space was less roomy than usual yesterday as Volodymyr Zelenskyy spoke to a packed audience. The Ukrainian president arrived in Davos with two pitches for government and business leaders: help defeat Putin to stop the war, and start thinking about investing in the rebuilding of Ukraine.
“In any confrontation, there’s always a point where catastrophe can be stopped. Ukraine is that opportunity,” he said. “I want you to be a part of this peace, starting from right now, to bring the peace closer.”
At an early evening press briefing for 50 journalists, Zelenskyy confirmed he met with JPMorgan Chase CEO Jamie Dimon at the conference. He didn’t offer details of their discussion, but in the same breath mentioned Ukraine’s continued economic growth and thirst for investment.
Credit Zelenskyy for thinking ahead, but it’s hard to imagine many banks or business leaders steering capital to a war zone. To that end, credit Zelenskyy’s continued eloquence in calling on allies to help him stop Russian aggression. Telling reporters about a government official he met (he didn’t say from which country) who helped secure 2,000 rounds of ammunition for Ukraine, Zelenskyy noted that while he was grateful, the supply would likely be used up within roughly eight hours.
“It’s never enough—it’s a pity,” Zelenskyy said. “It means: better to finish the war.”
“Forgive the banality, but death is a tragedy.” Volodymyr Zelenskyy tells a room full of journalists about the costs of war.
Asked and basically answered
Are banks ready for the future? It’s a great question and also the title of a session at 11:30 am CET in Sanada. Given that the panelists include the CEOs of UBS and Société Générale and senior leaders of JPMorgan Chase and the IMF, we can assume the answer is yes.
Does finance benefit people? Another great question, also doubling as a session name. We can probably divine this answer, too, unless Tsinghua University finance professor Xiaoyan Zhang decides to throw a wrench into the proceedings with fellow panelists Klaas Knot, president of the Dutch central bank (DNB); Allyson Tucker, head of the Washington State Investment Board; and Robin Vince, CEO of BNY Mellon. This one’s at 1:15 pm CET in Kurpark Village.
What happened to Satya Nadella? The Microsoft chief used to give such interesting interviews during his annual sitdown with WEF executive chairman Klaus Schwab. One year, he talked a lot about books; another time, he confronted that day’s headlines regarding layoffs at Microsoft; last year, he gave an eager audience an early taste of AI’s potential. And this time? 🤷♀️ You can watch the recording to see for yourself. But don’t say we didn’t warn you. Even a layup question from Schwab, who wanted to be able to advise his AI-interested teenage grandson on what to study, yielded an anodyne response. “Anyone can pick up any field of study and see that AI can be really helpful in helping them learn the most difficult concepts,” Nadella said. OK then!
🎒What’s in Bill Gates’s backpack?
At a Tuesday breakfast at the Microsoft Cafe, Gates showed off a portable ultrasound device from Philips and other life-saving devices that are easily packable but not yet widely accessible.
Folks from the Gates Foundation are at WEF to press the case for accelerating health innovations that are already in the development pipeline, and making portable equipment and medicines more available in places with poor access. To drive the point home, they’ll be wearing backpacks around Davos containing kits of life-saving products, including:
🎒 A drape to measure blood loss in childbirth
🎒 A one-dose HPV vaccine that prevents common cervical cancers
🎒 Patches that can deliver vaccines without needles
🎒 Diagnostic test strips for identifying cases of malaria (which often go undetected)
🎒 Nutritional supplements that can be taken in pregnancy to reduce preterm delivery and stillbirths
Seen and heard around town
🚏 There are widespread grumblings about the sparse a.m. shuttle service from Klosters. But these are the moments when heroes are made. Consider the good samaritan who had ordered an Uber to the Silvretta hotel and, when an oversize vehicle appeared, invited a handful of people waiting interminably at the WEF shuttle stop to climb in, his treat. But also, consider the trains! You’ll ride free with your conference badge.
🎸 Wyclef Jean showed up at a Google press reception to demonstrate new AI tools available from YouTube.
🥡 Al Gore went virtually unnoticed for a few minutes as he sampled dumplings and noodle dishes at the Dalian reception at the Congress Centre, where the host city of the WEF’s upcoming New Champions meeting offered a big spread and a head start on Chinese Lunar New Year celebrations.
Pro tips
Skip the golf cart. If you hitch a ride between Congress Centre and Kurpark Village, you’ll miss not only a short but delightful walk on a snowy path but also the KurKaffee, a cute little hut on the way with piping hot cocoa and cookies that taste like Christmas.
Where else to walk. If you find yourself with a need for fresh Swiss air and an hour to spare, get your steps on the 4 km route around Davosersee lake. (If you’re not here, it’s worth checking it out virtually.) It’s easy, scenic, and close to the Davos Dorf train station.
Spread the word. Know someone else who’s obsessed with global business news or the power elite? Forward them this email, or send them this link to subscribe!
See you in your inbox again tomorrow,
Heather
P.S. It’s time for a new souvenir hat—maybe a Barbie-pink one from the AI House if you’re so inclined. The iconic blue hats from Zurich Insurance, a regular giveaway on the Promenade in years past, aren’t available this year. A sign on the Promenade explains why.
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