Morning Brew Daily – Davos 101: A Preview of the World Economic Forum 2026
Date: January 19, 2026
Hosts: Neal Freyman & Toby Howell
Location: Davos, Switzerland
Main Theme:
A witty, informative, and on-the-ground preview of the 2026 World Economic Forum (WEF) in Davos: exploring why it matters, what's at stake geopolitically and economically, what’s on the agenda, and some insider culture and oddities from the world’s most powerful networking event.
Main Episode Overview
Neal and Toby kick off their first-ever Davos trip by giving listeners a comprehensive, entertaining rundown of what to expect at the World Economic Forum 2026. They preview the major topics, key attendees, headline risks, criticisms of Davos itself, and sprinkle in fun facts and personal prep for the week ahead.
Key Discussion Points & Insights
1. Why Are We In Switzerland? What Is Davos?
- The WEF is the world’s largest annual gathering of business and government leaders.
- Neal and Toby are attending live to be “the eyes and ears on the ground” for listeners, bringing exclusive interviews and vibe checks throughout the week.
- [00:38] Toby Howell: “Is the deep state real? And if it is, do they also wear lanyards?”
2. Major US Presence: Trump Returns to Davos
- President Trump is attending Davos for the first time since 2020, bringing the largest-ever US delegation.
- Trump’s policies—especially recent headline-grabbing moves like the 10% credit card interest cap and DOJ investigation into Jerome Powell—are likely to be central topics.
- [03:43] Neal Freyman: “Trump’s big speech will take place on Wednesday and he’s expected to focus on a lot of the affordability issues… he also has attacked the private equity industry, trying to get them out of being landlords…”
- Davos this year has the most complex geopolitical backdrop since 1945, per the WEF CEO.
3. Global Leadership and Attendee Snapshot
- Roughly 3,000 participants from 130 countries: 850 CEOs and global business chairs, plus heads of state including Trump, Canadian PM Mark Carney, China’s Vice Premier He Lifeng, President Zelensky, EU’s Ursula von der Leyen, and many more.
- Prominent AI and tech leaders in attendance: Sam Altman (OpenAI), Jensen Huang (Nvidia), Microsoft, Metta, Palantir, Anthropic, and even celebrity entrepreneurs like Will.i.am, who now runs an AI startup.
4. Main Themes & the Global Risks Report
- WEF’s 2026 Theme: “A spirit of dialogue” — pointed and perhaps “desperate” in the face of rising global antagonism.
- The Global Risks Report surveyed over 1,300 leaders:
- Short-term risks: Geo-economic confrontation (use of economic tools as ‘cudgels’), misinformation/disinformation.
- Long-term risks: Climate emergency (insured losses from nat-cats in 2025 reached $107B, sixth straight $100B+ year), AI risk (jumped from #30 to top 5), continued polarization.
- Only 1% of world leaders surveyed expect calm in the next two years.
- [07:21] Toby Howell: “Geo-economic confrontation is now the top-ranked near-term risk...using economics as a cudgel to get what you want...”
5. Geopolitics Now Overshadow Economics
- Analysts warn that “the old playbook is out the window”—markets now closely respond to White House actions, not central bank policy or traditional indicators.
- Example: banking stocks falling due to Trump’s populist policy pivots, not business performance.
- The US’s large delegation sends a message about its intent to “flex” on the world stage.
- Tension: America’s desire to lead vs. Davos’s call for “coalitions of the willing.”
- [09:54] Neal Freyman: “Global economic concerns are being overwhelmed by geopolitical concerns...throw the playbook out the window and just kind of focus on what the White House is doing and what Trump is saying…”
6. What Is (and Isn’t) Davos? Criticisms & Backstory
- Founded by Klaus Schwab in 1971 to promote cooperation between public and private sectors.
- Despite idealistic goals, it’s been criticized as a detached “networking event for billionaires,” serving caviar while discussing global inequality.
- WEF generates $500M in revenue each year, heavily subsidized by corporate partners, fueling accusations it’s “billionaires telling millionaires what the middle class should do.”
- Examples of real outcomes: North and South Korea’s first ministerial meeting (1989); networking that paved the way for the Macedonia name dispute resolution (2018).
- [13:57] Toby Howell: “A lot of people say it is billionaires telling millionaires what the middle class should do.”
- Schwab stepped down this year amid investigations, so 2026 is “the first step out into a new world without Schwab at the helm.”
Memorable Quotes
- [04:35] Toby Howell: “All of these storylines...you're face-to-face with the people they are directly affecting at Davos. Which is why everyone is looking at Trump and his big speech.”
- [07:02] Neal Freyman: “Every year there's a theme. This theme is a spirit of dialogue. Sounds a little desperate at a time when there doesn’t seem to be a lot of dialogue…”
- [11:21] Toby Howell: “The conclusion that the World Economic Forum reached is that coalitions of the willing are essential. So that is going to be the core tension…”
- [15:29] Toby Howell: “Even though the board says their mission remains unchanged…you look at who’s signing the checks. It is a lot of the corporations that are present—they are making the rules for the economy at large.”
Notable and Fun Facts About Davos
- Altitude: Highest city in Europe at 5,100 ft—less than major ski towns in the US (Breckenridge: 9,600 ft).
[18:02] Neal Freyman - Food Prices: “One hotel a few years ago went viral for charging $51 for a burrito...a hot dog for $43.”
[18:35] Toby Howell - Security: The Steigenberger Grand Hotel Belvedere is the most fortified hotel in the world for the week; snipers on roofs, security everywhere.
- Hotel Quirks: Standard amenities (pools, spas) are removed to make space for meetings; “everywhere you see is meeting space.”
[20:42] Toby Howell - Demographics: Women comprised 22% of attendees in 2019 (double since 2001); large firms must now bring at least one woman for every four men.
[21:16] Neal Freyman - Average Age: 54 for men, 49 for women.
[21:52] Toby Howell - Big Money: WEF itself generates $500 million annually, mainly from big corporate sponsors.
- Criticism: Book “Davos Man” lampoons the conference as a symbol of global inequality and disconnect.
Personal Prep: Neal & Toby’s Davos Readiness
- Suits & Style: Toby’s rocking his old high-school suit to fit the dress code—but with just one pair of shoes and barely any ties.
[23:14] Toby Howell - Footwear: Neal is investing in snow boots for walking-heavy days, as Uber waits are too long.
[24:07] Neal Freyman - Heated socks: Executive producer Emily bought heated socks (they don’t work that well).
[24:30] Toby Howell
On-the-Ground Content
- Daily live podcasts, exclusive interviews with founders and CEOs, and YouTube/social content directly from the Lightspeed House at Davos.
- Creatively covering both the action and the local oddities (those overpriced hot dogs, empty ski slopes, and the world’s most high-stakes networking).
What To Expect The Rest of the Week
- Neal and Toby will provide on-the-ground reporting of all major headlines and moments—especially Trump’s speech and its global fallout.
- Daily podcast episodes at the usual time, despite the time zone.
- Video interviews with business and tech leaders, special segments with Lightspeed founder Ravi Matra, and social media extras with behind-the-scenes fun facts and reporting.
Timestamps for Important Segments
- Why Davos? WEF 101: [00:36] – [01:31]
- Trump’s Return & US Delegation: [02:41] – [03:43]
- Global Risks & Geopolitics: [07:21] – [09:54]
- Davos Critiques & Schwab’s Departure: [13:57] – [17:15]
- Fun Facts & Local Oddities: [18:02] – [21:16]
- Prep & Podcast Plans: [23:14] – [24:54]
In Summary
This episode delivers a sharp, insightful, and humor-tinged primer on the World Economic Forum’s complexities, controversies, and curiosities. Packed with both context and on-the-ground color, Neal and Toby give first-timers and insiders alike a strong sense of why Davos 2026 is worth watching—both for geopolitics and the world’s most expensive burrito.