Davos, Schwab, David Rubenstein discussed on Bloomberg Radio New York Show

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Profile event in Double Switzerland seven year well, they usually do it there anyway. This year, though, it'll be partly in Singapore and partly virtual because of the pandemic, and we had a chance to hear all about it from close. Schwab. He's founder and executive chairman of the form. He spoke with David Rubenstein on the David Rubenstein show Peer to peer conversations. Schwab continues here with the epiphany he had that led him to develop the forum. Let's listen in, it has to self all souls. Who depend on the company who have a stake in the company like the people working in the company's a community this active in so he sent us so big. Let's say beginning actually offset Davos idea. Because the Davos idea is so stakeholder capitalism so stakeholder responsibility. Okay, So you're back at the University of Geneva. You're teaching economics. Is that what you're teaching? I was teaching actually Leadership cooperate management. On. Okay, son as a professor of ice, I should say, frankly, a little bit bored after all the previous experience. Had witnesses book Son I felt why not to create a platform. We're business leaders could meet so stakeholders, which means political leaders, but also Outstanding voices of society. So, um, I got I had made some savings and I've got some money from my parents. And that's how I started. See double is platform, which is now called the world They couldn't reform and actually, I incorporated it immediately as a not for profit foundation because I recognized If I wanted to attack governments, it cannot be for profit profit making venture. So so had you made it a for profit venture. You think it would not have become his Bigas? It has become know somebody not because Now we have suppressed off everybody. Because people know we are serving a purpose and we are not serving our own interests. What year was it that you had your first conference? It was 1971 and several 444 people on D. Actually, I hired one employee because I needed some experience in In how to handle confidence s. That's how I met my wife. She was my first hit my first collaborator. So you've now been married for how many years Next year will be 50 years, David 50 years. Okay. So kind of a big party at Davos to celebrate the 50th wedding anniversary. No, we are bold. Uh, let's say a private family. I said we will do it. We married in a very little church in a mountain valley. Which cannot let's say, give room to wars and probably 2030. People s so we will go back suddenly to surcharge. If If Corbett allows us to do so. What was it that propelled Davos says. We're calling it now, or World Economic Forum to go from a 444 person event to a global phenomenon. What was it that actually changed things that made it so popular and so important to people to attend? I think if I look all over the last 50 years, it is see conviction sat the big issues in the world. Need a column of Kiefer poach. Um, business has to interact with government leaders, but also, if you want to plan long term, you have to know how customers feel. How's a young generation feels Want experts are thinking so that was became a place where you really could absolve what's the future will bring you? I think Um, intellectual contextual intelligence as I would to know what's going on. Not only now that what will happen in the future to go to connect the dots. Became more and more important for business leaders Wednesday looked at so long term strategies over the years, the 50 years or so have there been one or two or three events that have happened in that bus, where a global leader of one country met with a global leader of another country. And actually, as a result, the peace agreement broke out or something like that happened is that happened very much. It happens. For example, the very critical moment 30 years ago. We prevent it probably a war between talking increase. Even if unfortunately, we didn't solve any morning city. We will see only platform for many years which part Israeli leadership and see an oppa leadership together in doubles, As you know, day with we tie Um, always to be a platform off good services, And that was close. Schwab, he's founder and executive chairman of the World Economic Forum, speaking on the David Rubin stun show peer to peer conversations. And coming up. What happens to doubles after Klaus isn't involved anymore. Also what 12 thinks it takes to be a leader. These days, you're listening to a New year's edition of Bloomberg best..

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