Insider Today: Davos’ secrets

Plus: The Montgomery Bus Boycott, and a warning to EV owners.

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January 15, 2024 • 3 min read with Jordan Parker Erb Welcome back! I’m Jordan Parker Erb, filling in for Dan. Our team is observing Martin Luther King Jr. Day, so today will be an abbreviated version of the newsletter.  Let’s get into it.

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Fabrice Coffrini/Contributor/Getty Images The big story Secrets of Davos The world’s elite will descend upon Davos this week. The small Swiss town has played host to the World Economic Forum for the past 50 years.  People like Jamie Dimon, Angela Merkel, and Bill Gates convene in the high-altitude village each year to… do what, exactly?  Of course, it’s an annual congregation where the biggest names in business, tech, and government attend panels, roundtables, and keynote speeches. But beyond the seminars and the jargony gobbledygook — WEF’s website says this year’s meeting is meant to “connect the dots in an increasingly complex environment and provide foresight” — what’s it really like on the ground?  Some of Business Insider’s top editors, who have previously been to Davos, will be in attendance again this year. I turned to them for answers — and it turns out there are a lot of intricacies and unspoken rules surrounding the conference. Naturally, there’s a healthy amount of shoulder-rubbing, Spriha Srivastava told me. But much of the real work and big conversations happen outside of the officially sanctioned panel discussions.  “Davos is big on parties,” Spriha said. “There are panels and meetings throughout the day, but it's the sundowners that are the most sought after.”  One of the most coveted parties, according to Matt Turner, is JPMorgan's Wednesday evening reception. It’s among the biggest invite-only gatherings, and a place for execs and government leaders to really get together and mingle. Fabrice Coffrini/AFP via Getty Images But if you, like me, thought attendees would be walking around with full bellies from well-catered luncheons, you’d be wrong. Cadie Thompson told me about the “Davos diet.” “There aren’t really a ton of restaurant options because most of the eateries are taken over by companies as venues,” Cadie told me. “And even though food is often provided at company spaces and at events, it can be difficult to eat when locked in conversation.” In other words, bring snacks.  Then there’s the process of actually getting to all of these events, Nich Carlson pointed out. The conference takes place in a ski town in the middle of January, so things can get slick.  “It's snowy and slippery and odd to be walking around in wintry conditions in suits and business shoes,” Carlson said. WEF does hand out traction-cleat-type devices to help with walking, he added, conjuring up images of execs in business-casual crampons. WEF also has a rigid hierarchy held in place by attendees’ badges. If you have an orange badge (afforded to media members), you get less access to areas around Davos, Cadie said. Land a white badge, though, and you’re in.  “You pretty much have access to everything, including all the WEF panels, events, and exclusive parties,” she said.  “It’s incredibly common to see people checking out badges as you walk down the Promenade or around the Congress Centre,” Cadie told me. “The color-coded system gives you a quick reference of who’s who.”

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The Insider Today team Dan DeFrancesco, deputy editor and anchor, in New York. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Jordan Parker Erb, editor, in New York. Hayley Hudson, director, in Edinburgh. Lisa Ryan, executive editor, in New York. Get in touch insidertoday@insider.com To read unlimited articles, subscribe to Business Insider. Download the Business Insider app Email sent to: mrkay@idiot.cloudns.cc Manage your email preferences | Unsubscribe | Terms of service | Privacy policy | Advertise with us © 2024 Insider Inc. 1 Liberty Plaza, New York, NY 10006