Welcome to Issue Six of FleishmanHillard’s Davos Digest 2023.  

Dissecting Davos 

It was an intense week at Davos, with a mountain of meetings, a profusion of schmoozing, and opulent parties aplenty. But the great and the good are now home, as everyone reflects on what the week meant for politics, people and the planet. 

Now it’s time to look back at those last five days and explore the stories that stole the headlines and stormed on social. 

Following our specialist sector news and global perspectives over the past five issues, this latest instalment of Davos Digest features analysis from FleishmanHillard’s research and measurement practice, TRUE Global Intelligence. Check out what news and events captured the imagination of the world’s press and drove the greatest volume and engagement across key social platforms. 

Our Alpine analysis 

The following overall analysis gauges media and public interest in topics linked to Davos 2023 using volume and engagement metrics as indicators.  

Overall, there were 3.5M social and online media mentions of the summit between 16 and 20 January. This is nearly twice as many as for the last year’s summit (1.8M), which is unsurprising given last May’s event was a scaled-down version of Davos in a post-pandemic era. 

Key moments, whether by volume or engagement, included the following: 

The mounting pressure on Germany to provide military aid for Ukraine was remarked on, both on media and social media. A widely shared Politico article commented on Germany’s deliberately low profile on the subject at Davos while chancellor Olaf Scholz was heavily criticised on social media. 

The protests in Iran were another salient topic shaping the meeting’s political agenda. European Commission President Ursula van der Leyen’s backing for listing Iran’s Revolutionary Guards as a terrorist organisation was among the most-shared news content on social media. Meanwhile, the hashtag #MahsaAmini was among the top-trending on Twitter. 

The open letter by more than 200 members of the ‘super rich’ calling on governments to introduce wealth taxes to tackle inequality gained public notice, although it was also met by a great deal of scepticism as a ‘PR move’.   

Once again, climate activists captured media and public interest by not mincing their words as they addressed the current state of affairs. Fresh from her arrest in Germany, Greta Thunberg called out the hypocrisy of the attendees while Al Gore delivered an animated speech featuring apocalyptic climate scenarios. The widespread use of private jets, as the preferred means of transport to yet another event with a strong climate agenda, also did not escape public attention. 

Further layoffs in the tech sector were at the forefront of the internet community’s mind. Especially when it emerged that Microsoft had held an invite-only Sting concert for execs just before it announced layoffs of 10,000 employees. Reddit users particularly reacted to the news which became the platform’s most popular discussion thread from the entire event (43K upvotes and 2.4K comments). 

With Davos no longer the Hollywood A-lister magnet, tabloids had to get creative with their reporting. The rising demand for sex workers during the summit was reported by the Daily Mail, The New York Post, Germany’s Bild and The Spectator (US) and drove substantial online engagement. 

Despite his absence from the forum, Elon Musk still made his presence felt. Amidst conflicting accounts on whether or not Musk was invited to the summit, he was outspoken in his criticism of WEF and riled up his fans and opponents on Twitter through public opinion polls on WEF’s mandate. 

As usual, citizen journalism and fringe media reporting were rife during the forum, mainly criticising the event itself, multilateralism and globalisation as a whole. One news report gaining high traction on social media staged a ‘walking press conference’ with the Pfizer CEO, Albert Bourla. 

Articles with the highest engagement rates: 

Prostitutes gather in Davos for annual meeting of global elite – where demand for sexual services rockets during economic summit – Daily Mail Online: 15.1K engagements 

DAVOS 2023: EU’s Von der Leyen backs listing Iran’s Guards as terrorist group – Reuters: 13.1K engagements 

Mike Rowe Blasts ‘Hypocrisy’ Of Billionaires At WEF Blaming ‘Everyday Guy’ For ‘All Of The Trouble In The World’ – The Daily Wire: 10.1K engagements 

Elon Musk says he isn’t at Davos because it’s ‘boring af.’ Organizers say they haven’t invited him since 2015 – Business Insider Africa: 8.9K engagements 

Call for new taxes on super-rich after 1% pocket two-thirds of all new wealth – The Guardian: 8.6K engagements 

Social posts with the highest engagement rate: 

Rand Paul: This is the danger of a one-world government – YouTube, Fox News: 1.3M views 

A tweet from Avi Yemini questioning NYT deputy managing editor Rebecca Blumenstein about how impartial the NYT is if they are “an invited guest” at Davos: 57.3K engagements 

The news that Davos security had detained far-right journalist Jack Posobiec – 55.4K 

Top Twitter hashtags used by volume (other than #Davos, #WEF etc) 

#Pfizer – 20.2K times 

#GreatReset – 11.4K 

#Ukraine – 10.8K times 

#Agenda2030 – 7.8K times 

#MahsaAmini – 7K times 

Top Twitter and YouTube authors by engagements: 

@elonmusk – 9 posts, 714.6K engagements – the business magnate and Twitter CEO, mainly venting about the event he may or may not have been invited to 

@OzraeliAvi – 17 posts, 487K engagements – right-wing activist and RebelNews correspondent going after pharma CEOs, activists and mainstream media 

@NasDaily – 1 post, 279K engagements – Indian YouTuber providing light-hearted reporting from the event 

@PeterSweden – 11 posts, 189K engagements – a controversial Swedish far-right freelance journalist Peter Imanuelsen 

@RWMaloneMD – 3 posts, 148K engagements – a MD, famous for his anti-vaccine stance 

Methodology 

The analysis encompassed global media and social data collected between January 16 and 20 using a combination of media and social media monitoring tools. Social media data covers Twitter, YouTube, Reddit and Facebook. 

Welcome to Issue Three of FleishmanHillard’s Davos Digest 2023. 

We’ve already reached the halfway mark at Davos – boy, time flies when you’re trying to fix the world – and there’s so much more to discuss.   

On Wednesday, more than 200 millionaires and billionaires, including Disney heiress Abigail Disney and actor Mark Ruffalo, called on the Davos elite to tackle extreme wealth. In an open letter, they asked governments to “tax us, the ultra-rich, now” to help billions of people struggling with the cost of living crisis. Talk about putting your money where your mouth is.  

On this theme, some fun facts… On site this year are 119 billionaires and the highest ever number of private sector CEOs, but the lowest ever number of Heads of State. US businesses attending outnumber China by 20 to one. 

Sustainability is also once again high on the agenda. After being released from detention by German police after a coal mine protest, climate campaigner Greta Thunberg is on her way to Davos to meet International Energy Agency exec Fatih Birol, along with other big names in youth climate action. We assume she won’t be dragged away this time.  

And finally, we couldn’t resist sharing the Telegraph’s cartoonist Matt’s own amusing take on Davos, THE place to be seen right now… 

Check out the latest cross-sector news from our WEF watchers in today’s Davos Digest and be sure to come back here for updates throughout the week. 

CULTURE

WEF at War 

Davos divided: Business leaders were probably hoping that their time spent in Davos would bring some welcome respite from being accused of ‘corporate wokery’ or, conversely, of their DE&I strategy not being intersectional enough. But interestingly (read: depressingly), it looks like the 2023 iteration of WEF’s Annual Meeting is the first at which the so-called ‘Culture Wars’ have played a prominent role, with the climate being the main issue in “warriors’” sights. 

Fink before you speak: BlackRock CEO Larry Fink has long been a doyen and darling of the ESG community. Speaking to Bloomberg, he complained that whereas until recently, left-wing critics, who viewed his and people of his ilk’s investment approach as a cynical marketing ploy, had targeted his company and his industry rather than him as an individual. Recently, though, attacks had been getting ‘ugly’ and ‘personal’. Whether it is a symptom or a cause, the polarization that this development suggests is only getting worse, and brands will need to know how to navigate this new era of division. (If only there was an original and enormously insightful report on how to do it?) 

Taking the fight to the alt-right: If Fink was more concerned with members of the militant left, participants of a panel, which included in their number EU chief Ursula Von der Leyen, were worried about the climate disinformation prevalent in certain corners of the reactionary right. The distrust and disbelief being sown by extreme conservatives is, the panel argued, being more effectively and more compellingly disseminated than the truth. Or as the quote – often attributed to Mark Twain -goes: a lie can get halfway around the world while the truth is putting on its shoes. 

Looking ahead: Global culture will continue to come under the microscope tomorrow, but expect questions also to be asked about the culture of Davos. Politico’s Davos Playbook contributors witnessed open drug taking at one of the summit’s infamous after parties, and the Daily Mail reported that sex workers flock to Davos in their droves during the week. Both stories that are bound to improve Davos’ PR problem of being for out of touch, overprivileged elites.  

CORPORATE AND CONSUMER

The great resignation, quiet-quitting, and career cushioning – what’s next?  

Labour shortages and job shortages: We saw the great resignation in countries like the US, with over 10 million unfilled job openings as of November 2022. But what about low- and middle-income countries? Many of these countries are experiencing job shortages. The International Labour Organisation (ILO) reported that in the third quarter of 2022, global hours worked were 1.5% below pre-pandemic levels – the equivalent of 40 million full-time jobs. 

Human and machines working together: At WEF’s Future of Jobs panel, a session linked to the Jobs Consortium initiative, CEOs and trade officials discussed increasing technological adoption transforming labour markets worldwide. During the panel, José María Álvarez-Pallete, CEO of Telefonica SA, explained that every week of using technology during the pandemic was equivalent to a year in digital adoption. WEF’s Future of Jobs Report predicts that by 2025, the changing division of labour between humans and machines could create 97 million new jobs, while displacing 85 million existing jobs. 

Wages – feeling the pressure: Are you feeling the squeeze? You’re not alone – three in five workers around the world live in countries where labour incomes have not returned to 2019 levels, according to the ILO. Post-pandemic gains in wages are being eroded by high inflation and the rising cost of living. For the first time in over 15 years, real wages have declined by 0.9%. 

Looking ahead: When it comes to the labour market, CEOs are constantly looking for ways to improve employee retention and working culture. Tomorrow at Davos, Sander van’t Noordende, CEO and Chair of the Executive Board, Randstad N.V., will discuss the four-day work week. What else is on CEO’s minds? Corporate executives will meet to discuss trailblazing entrepreneurs tackling the world’s biggest problems. Tune in! 

HEALTHCARE

The state of the pandemic and nutrition security 

Have we entered the post-pandemic era? Not so, says an all-star panel including the President of the European Research Council and the CEO of Moderna. Long COVID, disparities in vaccination rates and the politicization of science remain urgent topics for these industry leaders. With future pandemics inevitable, preparedness is crucial and collaboration between public and private entities is key to developing an effective response. 

Making progress on food security: More people are dying from obesity or metabolic diseases than hunger, according to Mohammad Jaafar, CEO of the Kuwaiti Danish Dairy Company. As a result, nutrition security is top of mind, with industry leaders encouraged to invest in affordable nutrient-dense food options to trigger behaviour change in consumers. Smarter thinking on obesity and international alignment on food standards are other key steps in reaching the goal of nutrition for all.  

Ending the stigma: Yesterday, Publicis Groupe CEO Arthur Sadoun launched the #WorkingWithCancer Pledge, which urges employers to eradicate the stigma associated with having cancer in the workplace and to commit to supporting employees suffering from cancer or caring for cancer patients. Already embraced by several corporate partners such as PepsiCo, Google, and Unilever, the initiative has the backing of leading cancer institution Memorial Sloan Kettering. 

Looking ahead: Day Four will bring further discussion on pandemic preparedness, a press conference on closing the health gap featuring the CEOs of Takeda and the American Heart Association, and multiple sessions exploring the impact of data on the future of healthcare.  

PUBLIC AFFAIRS

An uncertain global future  

A global decoupling: This morning, the UN Secretary General António Guterres took to the stage warning the delegates we are “flirting with climate disasters” and that many will face “a death sentence” without further action. Guterres’ look at the future contained more stark warnings as he spoke of the “Great Fracture” of the two largest global economies, the US and China. He argued that such a rift could destabilize the world by creating “two different sets of trade rules, two dominant currencies, two internets and two conflicting strategies on artificial intelligence.” 

The economy looking up: In a more positive address to the delegates at Davos, the International Monetary Fund’s Gita Gopinath confirmed during her appearance this morning that the global economy has shown “signs of resilience”. Despite having what she describes as a “tough year ahead”, the IMF does expect global growth to improve towards the “second half of this year and into 2024”. This comes with the news that inflation in the UK has dipped to a three-month low of 10.5%, driven by a significant fall in petrol, diesel and clothing prices.  

Cybersecurity is a ticking time bomb: Attention turned to cyber threat as the Secretary-General of Interpol told a press conference that the level of concern exceeds anything seen before. He said there are a “number of success stories in global law enforcement” but that “we need to be much much better, at the end of the day”. This follows yesterday’s comments from Edi Rama, the Prime Minister of Albania, in which he said that cybercrime would be the third-largest economy in the world if it were a state and likened it to a ticking time bomb.  

Looking ahead in politics… 

Climate change is expected to stay firmly on the agenda tomorrow with Greta Thunberg’s planned appearance in Davos. Elsewhere, there will be a Special Address by Yoon Suk Yeo, President of the Republic of Korea, and a conversation on women’s leadership across the globe. 

TECHNOLOGY

Pixelated Peaks at Davos 

Hackers are obsessed with businesses: At a panel on the global cybersecurity challenges, Chuck Robbins, CEO of Cisco, observed that the threat landscape has expanded due to the adoption of remote work, IoT, and the current geopolitical events, among other causes. Another vector of vulnerabilities is the ongoing workforce security shortage. 

You can’t spell WEF without AI: ChatGPT is on everyone’s lips in Davos. Satya Nadella, CEO of Microsoft, who has a stake in OpenAI which operates ChatGPT, said at a Wall Street Journal event that the tech giant was planning to build the technology into all its products.  

WEF is taking over the metaverse: On Day Two, WEF found the time to launch its Global Collaboration Village in partnership with Accenture and Microsoft. The ‘purpose-driven’ metaverse will facilitate conversation between partners to “find solutions for addressing the big issues of our time in a more open, inclusive and sustained way”, said Klaus Schwab, Chairman of WEF, in a press release. We can’t wait to see serious people having serious conversations while looking like Sims!  

Looking ahead in tech: WEF is releasing its 2023 Global Cybersecurity Outlook report, where 86% of business leaders and 93% of cyber leaders believe global geopolitical instability is likely to lead to a catastrophic cyber event in the next two years. A panel including the chair of IBM EMEA will also discuss the quantum tipping point and how our economies can leverage this technology’s potential. Satya Nadella of Microsoft will also be interviewed by Klaus Schwab, Chairman of WEF.    

Be sure to join us for more insight from Davos 2023 in tomorrow’s Davos Digest.  

Contact us 

Welcome to Issue Two of FleishmanHillard’s Davos Digest 2023. 

Davos got underway on Monday and the opening ceremony was sprinkled with a handful of stardust. The 28th Annual Crystal Awards honoured actors Idris and Sabrina Dhowre Elba, artist and activist Maya Lin, and soprano Renée Flemin for their environmental and humanitarian work. The Elbas asked for more investment, rather than aid, for the world’s poorest countries. 

Meanwhile former Bank of England governor Mark Carney believes philanthropy can help tackle climate change. As co-chair of the global Glasgow Financial Alliance for Net Zero, he called for “layers of capital to catalyse the investment that needs to happen to prevent the wanton destruction of our ecosystem”. 

On a less sombre note, premier football league team Manchester United has unveiled a rather glamorous lounge at Davos but insisted it was purely to entertain clients and partners, rather than act as a shop front to lure a billionaire investor with spare cash… 

That was just a snapshot of the start of this week’s events. Find out much more below in today’s Davos Digest and check back here for updates throughout the week. 

CULTURE

Is the hottest ticket in Davos not to have one at all? 

The G7 staying off their G6: The guest list for this year’s WEF Annual Meeting is as notable for who’s not on it, as who is. Six of the G7 leaders, including Xi Jinping, Joe Biden and Rishi Sunak, have opted to stay away from the slopes this year, conscious to avoid being seen rubbing shoulders with immaculately tailored business leaders and so-called ‘internationalists’ at a time when there are so many domestic fires to fight. 

No-List of A-Listers: But non-committal politicians needn’t worry about being snapped looking awkward and – let’s be real – wanting in the looks department next to Leonardo DiCaprio or Angelina Jolie. As celebrity culture evolves from idolising exclusivity, to worshipping authenticity and ‘realness’, swathes of image-conscious A-listers are also eschewing any official speaking events at the summit, fearful of looking out of touch (or out of their depth). Maybe politics really is show business for normal people. 

Looking ahead: Domestic reputations notwithstanding, questions will be asked whether shirking one of the biggest multilateral meeting of minds at such a crucial juncture in global affairs and for the global economy is particularly sensible. With fewer potential reputational ramifications from attending, business leaders look to have acknowledged this need for cooperation and are going to what is the first proper Annual Meeting since COVID-19 in their droves. Record numbers, in fact. The question is whether their consumers and other stakeholders will see CEOs attending a highfalutin champagne-fuelled summit as the best setting to solve these issues. 

CORPORATE AND CONSUMER

Diary of a CEO: reinvent, invest and collaborate 

Businesses must reinvent or risk failing: Let’s face it, for the past several years resilience has increasingly felt like a buzzword. Yet it remains a crucial driving force for successful business, according to some of the world’s top CEOs. PwC’s Global CEO Survey highlighted that of the 4,410 CEOs polled, 40% said they did not see their own companies as viable in 10 years if they stay on their current path. What is PwC suggesting? We must continue to reinvent our businesses or risk losing it all.  

Investing in strategic decision making: Commenting on Accenture’s “Accelerating Europe’s path to reinvention” report Jean Marc Ollagnier, European Chief Executive of Accenture, said there was a need for European companies, in particular, to improve technology and “reinvent their business.” Nearly six in 10 CEOs said they did not invest enough time asking strategic questions, such as enquiring about technological capabilities, raising staff skill levels, building stronger supply chains and decarbonising their operations.  

The future is collaboration: During the Davos Global Collaboration Village press conference where executives from the Forum spoke with Julie Sweet, Chair and Chief Executive Officer, Accenture and Brad Smith, Vice-Chair and President, Microsoft, Mr. Smith was asked about the future of business. He’s convinced the world of work is about collaboration. For decades, we have been on a path toward collaborating with new technologies. Today he urged companies to facilitate collaboration from the bottom up. 

Looking ahead: Corporates still have much to discuss when it comes to creating opportunities, technological advancements, and the future of work. Tomorrow we’ll hear from WEF’s Jobs Consortium, a coalition of CEOs, government ministers and other leaders with a common vision for a better future of work for all. Stay tuned for the top trends shaping the world of work – and how CEOs are addressing them!  

HEALTHCARE

Tomorrow’s workforce and a call to invest in women’s health 

Will robots steal my job? Not exactly – you may just need to ‘reskill,’ according to Merck CEO Belen Garijo who spoke on a panel on the future of work this morning. She explored how public and private sectors can transform the workforce to provide better skills, jobs and education over the next 10 years as the role of technology looms ever larger. Technology is already a huge part of Merck’s upskilling and training programmes and will continue to be key to balancing capabilities and needs in the healthcare and life science industries.

The future is female: With women’s needs all too often an afterthought in healthcare, investment in women’s health urgently needs to be prioritised, according to a panel of health leaders including the CEO of Organon and the Minister of Women and Child Development for India. With the pandemic acting as a huge blow to gender equality, both private and public organisations must come together to bring women’s health back to the top of the agenda. This includes pushing for universal healthcare, stronger reproductive rights and highlighting the commercial value of investment in women’s health.  

Looking ahead: Plenty more to come tomorrow, when we’ll be kicking off with a much needed debrief on the state of the pandemic. Industry leaders will also be discussing various health equity topics, including the impact of climate change on both physical and mental health and building resilient health systems, as well as what’s next in the biotech revolution.

PUBLIC AFFAIRS

Calls for Collaboration: multilateralism tested on Ukraine, Climate and China’s reopening 

The collapse of the world as we know it? In line with this year’s theme, co-operation, or a lack thereof, dominated the First Lady of Ukraine, Olena Zelenska’s speech this morning as she accused delegates of not using their influence, or using it “in a way that divides even more”. She argued that unless countries work together, we face the collapse of the world as we know it and that “this war can go further and make the crisis larger, unless the aggressor loses”. This year’s World Economic Forum offers a new chance to drum up the international support that Ukraine has been seeking and France, the UK, the US and other nations are now vowing to send increasingly powerful weapons such as tanks and armoured combat vehicles to help the cause.  

The cost of climate change: “Climate needs a global approach but a fair approach” was Ursula Von der Leyen’s message when she took to the stage today as she outlined a detailed plan for a clean tech future in Europe. It had been expected that the President of the European Commission would launch a more stinging attack on the US but instead, she made it clear that parts of the recent Inflation Reduction Act have caused concern in Europe but insisted they will work together with their “United States friends” to find solutions.   

Global China: China’s Vice Premier, Liu He, set out that China is now looking to open up on two fronts during a special address he gave this morning. As it recovers from its ongoing COVID situation, foreign visitors are now being encouraged to visit the country as long as they present a negative PCR test taken 48 hours before entering. Elsewhere he also set out that China continues to oppose unilateralism and is eager to work with other countries to enhance global cooperation and appropriately respond to global issues such as climate change.   

Looking ahead: Tomorrow, the delegates will hear a special address from both Volodymyr Zelensky, President of Ukraine, and Antonio Guterres, Secretary General of the UN. This year marks the second consecutive Davos summit without a Russian presence, with their traditional embassy now being used by delegates from India. That said, discourse about the ongoing conflict looks set to continue into the second day and indeed, the remainder of the week.   

TECHNOLOGY

Traditional tech pressed about layoffs, while crypto leaders call for more clarity 

Tech CEOs seen practicing their poker faces: As some reports suggest that more than 24,000 employees were laid off by tech companies in the first 15 days of 2023, CEOs of large tech companies attending WEF attempt to present a reassuring face amidst talks of a global recession. Alex Karp, CEO of software company Palantir Technologies, expects to hire hundreds of people in 2023, in line with previous years. 

Regulation is SO in at Davos: The issue of creating a new statutory definition for digital assets was raised by some business leaders, including Jeremy Allaire, CEO of cryptocurrency issuer Circle, at a forum organised by Reuters at WEF. The European Union is leading the way with the Markets in Crypto-Assets (MiCA) rules expected to come into effect in 2024. At Davos, crypto leaders are looking at major markets, such as the US, to set up a plan and provide more clarity for the sector. 

Looking ahead: A focus from Chuck Robbins, CEO of Cisco, on how decision makers can respond to the confluence of rising cyberattacks and a polarised geopolitical landscape. ChatGPT and generative AI are also top of mind at WEF, with speakers ranging from Hiroaki Kitano, CTO of Sony, to the artist Refik Anadol discussing what the implications are of this technological progress for their industries. 

Join us for more insights from the summit in tomorrow’s Davos Digest.  

Contact us 

Join us on Wednesday 30th November, 2-3pm (GMT) for a panel discussion, ‘The Trouble with ESG Doublespeak’, exploring the role of communications in disentangling ESG at a time when sustainability has never been higher on the world’s agenda.

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