What we're seeing on the ground at the World Economic Forum

What we’re seeing on the ground at the World Economic Forum

Bring on the private jets, billionaires, expensive snow boots, glitzy late-night parties and climate change talk over coffee at the World Economic Forum (WEF) in Davos, Switzerland.

The annual event returns to its mid-January schedule for the first time since the COVID-19 pandemic began. This year’s theme: Cooperation in a fragmented world.

The five-day talk, which begins Monday, will attract the world’s elite, from politicians to pop stars.

Some big names on the snowy turf range from Davos veterans JP Morgan CEO Jamie Dimon (fresh off the fourth quarter earnings release and a new interest rate warning) to the CEO of Qualcomm, Cristiano Amon, to musician-turned-tech investor Will.i.Am. .

A man takes a selfie in front of the World Economic Forum (WEF) 2023 logo at the Davos Congress Center in the alpine resort of Davos, Switzerland, January 15, 2023. REUTERS/Arnd Wiegmann

Salesforce co-founder and CEO Marc Benioff will also be in attendance after making the difficult decision to cut 10% of his workforce this month. Unlike the spring/summer 2022 Davos, Benioff will be absent as co-CEO: his former drumming partner Bret Taylor recently stepped aside to pursue his next effort.

The meetings of the top minds in business will come as investors are still feeling the sting of the 2022 stock bear market and with fears of recession due to rising interest rates. The Russia/Ukraine war also remains omnipresent.

“As the Russia-Ukraine conflict approaches a year, economies and societies will not easily recover from the ongoing shocks,” WEF managing director Saadia Zahidi wrote in this year’s Global Risks Report. , adding that “more than four in five respondents anticipated continued volatility over the next two years.”

The report also found that a cost-of-living crisis is the top near-term risk to society. Longer-term challenges, such as tackling climate change and natural disasters, always discussed at WEF, remain on the table.

At bottom, there are likely to be concerns about the prospects for cryptocurrencies in the wake of the FTX crash. And Tesla’s stock price plunge at the hands of Elon Musk, owner of Twitter, may turn heads at the scoop meeting.

Yours sincerely and Julie Hyman will be on the ground all week with great interviews streaming 24/7 on Yahoo Finance Live and YF’s YouTube channel. Bring your coffee… and your stock watch list.

Brian Sozzi is a general editor and anchor on Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and in LinkedIn.

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