In the City (Bloomberg): Davos Bonus – “Deaths at Davos” with Thierry Maleret

Date: January 26, 2025
Host: David Merritt
Guest: Thierry Maleret, Economist & Author

Overview

This bonus episode takes listeners into the heart of Davos, Switzerland, during the World Economic Forum (WEF). Host David Merritt interviews Thierry Maleret, a former WEF insider and co-author of "COVID-19: The Great Reset," to dissect the evolution of the WEF, the realities behind its annual meeting, and Maleret’s new satirical thriller series, “Deaths at Davos.” The conversation oscillates between the forum’s shifting mission, the realities of elite networking, and how fiction can reveal truths that non-fiction cannot.

Main Themes and Discussion Points

1. Thierry Maleret’s Background and WEF Involvement

[03:34-04:31]

• Maleret worked at the World Economic Forum (WEF) from 2000 to 2007, first organizing the Davos event, then creating the influential Global Risk Network.
• Maintains a close relationship with Klaus Schwab, WEF’s founder, and has co-authored several books with him.

Notable Quote:

“So I was an employee of the World Economic Forum from 2000 to 2007... I created the Global Risk Network...”
— Thierry Maleret [04:04]

2. The Role and Evolution of Klaus Schwab

[04:31-05:29]

• Schwab is described as the “creature” and still the spirit of the WEF, maintaining authority as chairman of the Foundation Board at age 86.

Notable Quote:

“He’s absolutely vital to the gathering. I think this is the 55th edition... He’s still in charge.”
— Thierry Maleret [04:49]

3. The WEF’s Transformation: Idealism to Platform for Power

[05:29-07:07]

• Once driven by the motto “committed to improving the state of the world,” WEF has shifted to serving as the “mother of all platforms” where business and political elites meet to do deals.
• Attendees see their investment in Davos justified by strategic networking opportunities rather than by altruistic motives.

Notable Quotes:

“The World Economic Forum... has become the mother of all platforms. Everybody comes because that’s the place where you do business.”
— Thierry Maleret [06:04]
“Improving the state of the world has become irrelevant.”
— Thierry Maleret [06:47]

4. The Economics and Social Stratification of Davos

[07:07-10:15]

• Extreme costs associated with attending are tolerated because of perceived high returns on investment for companies and politicians alike.
• Private dinners and events—some numbering into the thousands—rather than official sessions, are where real power-brokering happens.

Notable Quotes:

“Everything, as you said, is obscenely expensive... and yet people come. Why? Because they generate a good return.”
— Thierry Maleret [07:32]
“When I was in charge of Davos 20 years ago, I think there were about 1,000 private events... today... between 2, 3 and 5,000.”
— Thierry Maleret [08:18]

• Badge System:
  • Social hierarchy is visible via badge colors—white badges mark the top 0.1% (CEOs, top politicos), orange badges are for media, and others include various support personnel.
  • Maleret, as an insider, attends events without needing a badge.

5. Deaths at Davos: Fiction as Exposé

[10:20-13:53]

• Maleret’s fictional “Deaths at Davos” series is set at a thinly-veiled version of the WEF (called "the Circle"), using thriller conventions to expose the unseen realities and undercurrents of power, espionage, and clandestine social behaviors at Davos.
• Behind the scenes: gatherings, sex parties, intelligence agency interest, and high-stakes geopolitical conversation, particularly focusing on US-Russia dynamics.

Notable Quotes:

“The idea is to explore in a thriller... what’s happening behind the scenes of Davos. And there is a lot happening... the sex parties, for example. And I describe one of them in the book.”
— Thierry Maleret [11:08]
“When you write fiction, you are bound by nothing except the power of your own imagination... instead of writing an essay... a thriller opens many, many doors that you wouldn’t be able to explore otherwise.”
— Thierry Maleret [11:49]
“There is such a huge concentration of power in Davos... how enticing this may be for intelligence services. And this is what this book explores.”
— Thierry Maleret [12:08]

6. Reality and Resonance: Davos’ Underbelly and Global Impact

[13:58-16:21]

• Fiction is “grounded in reality,” with the underbelly of Davos reflecting real-world consequences for non-elites.
• There is a heightened sense of tension and anxiety among European leaders about the future amid political shifts, especially regarding the US and Trump’s expected policies.

Notable Quotes:

“There are serious implications for the conversations that are happening here that affect the non 1% of people.”
— David Merritt [14:00]
“There is what everybody sees... and then there is what’s happening in the underbelly, which is probably even more significant.”
— Thierry Maleret [14:26]
“Europe is very fearful about the future... geopolitically, economically, financially, Europe is going to be increasingly vulnerable in the years to come.”
— Thierry Maleret [15:28]

7. The Unexpected Pace of Global Change

[16:21-17:22]

• The episode closes with a reflection on how much has changed since the previous year’s Davos, with European vulnerabilities, fast-moving geopolitical events, and shifting power structures in focus.
• Maleret hints at continuing the “Deaths at Davos” series to reflect ongoing developments.

Notable Quotes:

“Everything that’s happening this week was unimaginable last year at Davos.”
— Thierry Maleret [16:58]
“Are we going to have a 3.0? Absolutely... Fantastic opportunity, right?”
— Thierry Maleret [17:26]

Memorable Moments & Timestamps

• [06:04-06:47]: Maleret bluntly calls WEF's mission “to improve the state of the world” outdated, stating it’s now about “improving the P and L.”
• [08:18]: Scaling up of private, off-the-record events at Davos over two decades.
• [11:08-11:46]: Maleret acknowledges the existence of sex parties, secrecy, and intelligence intrigue as realistic elements of his fictional world—echoing real rumors.
• [14:00]: David Merritt and Maleret discuss the implications of elite gatherings for the wider world, not just attendees.
• [15:28-16:21]: Deep uncertainty and fear among European leaders about global shifts and their impact.

Tone & Language

The conversation is candid and slightly irreverent—Maleret is direct about the self-serving nature of Davos, while Merritt keeps the dialogue accessible with a lightly satirical edge. They maintain respect for the influence of the forum but are realistic about its motivations and machinations.

Conclusion

This episode strips back the mythos of the World Economic Forum, exposing both its undeniable networking efficiency and the layers of unseen activity that surround it. By interweaving analysis, personal experience, and fiction, Thierry Maleret offers a lens into the “underbelly” of Davos, hinting at stories that cannot be told by journalism or official communiques. His “Deaths at Davos” series acts as both entertainment and subversive social commentary—grounded in the extraordinary power dynamics playing out annually in the Swiss Alps.