الأربعاء، 22 يناير 2025

Davos Schmavos

The World Economic Forum’s annual meeting is a waste of everyone’s time
 
   
     
   
 
January 22, 2025
   

Editor’s Note: Today at 1:30 PM ET, my friend Geof Smith exposed a HUGE opportunity in one rare mineral — it’s not anything you’ll hear about at Davos… in fact, it’s a much better use of your time. So join him here to learn all about it.

Hey y’all,
 
One of the refrains that I find myself sharing the most often is this: “no one cares more about your money than you do.” 

Never is this more clearly on display than during the annual meeting of the World Economic Forum in Davos, Switzerland.

 

 

Now, I’m sure there are a thousand conspiracy theories out there about a global cabal of elites meeting in a gorgeous mountain chalet once a year to plot their evil plans.

But I don’t think you have to go all the way down that tinfoil hat rabbit hole to see the obvious conflicts of interest here.

Nothing screams hypocrisy more than the world’s richest people with huge carbon footprints flying into Switzerland on their private jets to lecture the world about global warming.

This tweet captures it well: 

 

 

That’s not to minimize the very real concerns about global warming, it’s just to question whether this is the best panel to voice those concerns.

The goals of this annual meeting were explained as follows by the WEF itself: “The meeting will foster new partnerships and insights to shape a more sustainable, inclusive future in an era of rapidly advancing technology, focusing on five key areas: Reimagining Growth, Industries in the Intelligent Age, Investing in People, Safeguarding the Planet, and Rebuilding Trust.”

If you have any idea what any of that means, you’re way ahead of me, so congratulations.

What it usually amounts to is the richest and most powerful people in the world taking the stage to beat the drum on their personal political priorities, often in seemingly contradictory ways.

Take, for instance, the U.N. Secretary General, who in one speech lambasted the world’s oil producers, saying “our fossil fuel addiction is a Frankenstein monster, sparing nothing and no one. All around us, we see clear signs that the monster has become master.”

But, in the same speech, extolled the future of Artificial Intelligence, saying, according to AP, that “it could revolutionize learning, help improve health care and support farmers with tools that boost productivity.” 

Both fossil fuels and AI pose a theoretical threat to global warming, and both demand huge energy to produce. So why praise one and slam the other?

Probably because those virtues match with the Sec Gen’s personal political priorities, if I had to guess.

But for most folks reading this, the price of gas is a much more real and very tangible concern in their day-to-day lives. The proliferation of AI isn’t yet.

Those priorities might be reversed for the Secretary General of the U.N., whose salary and transportation costs are covered by the world’s taxpayers. But that’s a luxury for the elite, not a reality for the everyday global citizen. 

Again, the point isn’t to call the U.N. Secretary General bad or say his concerns about global warming are insincere.

It’s merely to say that the world’s most powerful people are often out of touch with the priorities of everyday folks like you and me.

And that should be an encouragement for all of us to take matters into our own hands and focus on promoting our own financial prosperity.

That’s what our goal is here. 

So, I hope that over the next year, the ProsperityPub newsletter will provide you with a lot more value than the WEF. 

To be honest, I should probably set the bar a lot higher than that… 😏

To your prosperity,

Stephen Ground


 

   
 

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