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Measuring trust around the world
Trust, Davos, Microsoft vs. Apple, Bill Ackman vs. himself, billionaires vs. the rest of us, and vol. II of the Vivace Index
Ryan Sheppard & Joel Leeman
January 15, 2024
Welcome back to Spark, a weekly newsletter from Vivace Content. We compile news signals from across the business, financial, and cultural landscape, and spark ideas to help you and your business jump on something new to talk about. Send tips and feedback to [email protected] or just hit reply.
Greetings from a very chilly Minnesota, where it’s currently -2° F (-19° C) with a “Feels Like” of -19° F (-28° C). 🥶
Especially for those in the U.S., happy Martin Luther King Jr. Day. If you’re looking for ways to celebrate and honor Dr. King’s legacy, here are a few great round-ups of suggestions from The Atlantic and Anti-Racism Daily.
How’s your 2024 going? How can we help you stay ahead of what your boss is asking you for? Hit reply to let us know.
We have a piece of client work publishing tomorrow that should help you stay ahead of some of the biggest trends in FinTech this year. Give us a follow on our LinkedIn page, where we’ll share the piece when it goes live.
-joel
In today’s issue: Trust, Davos, Microsoft vs. Apple, Bill Ackman vs. himself, billionaires vs. the rest of us, and vol. II of the Vivace Index
“Actually, we who engage in nonviolent direct action are not the creators of tension. We merely bring to the surface the hidden tension that is already alive. We bring it out in the open, where it can be seen and dealt with. Like a boil that can never be cured so long as it is covered up but must be opened with all its ugliness to the natural medicines of air and light, injustice must be exposed, with all the tension its exposure creates, to the light of human conscience and the air of national opinion before it can be cured.”
Measuring trust around the world
One of the great storylines of the past couple of decades is the declining trust in institutions, as measured each year by the Edelman Trust Barometer. This year’s report just published, with a specific focus on innovation.
Government leaders are among the least trusted societal leaders, with journalists and CEOs only slightly more trusted. Leading the way among trusted leaders are scientists, teachers, and neighbors. The UK is now among the least-trusting countries (see below).
Lots more to dig into. For business and MarComms leaders, this is a great opportunity to think about how you are building and maintaining trust with your stakeholders, including clients, employees, the board, the media, and the government.
(Press release / Report)
Davos
Speaking of trust, “Rebuilding Trust” is the theme for this year’s WEF annual meeting.
As we previewed last week, global leaders have descended upon the cozy mountain town of Davos, Switzerland, for the 54th Annual Meeting of the World Economic Forum. Publicly, this is the week for those leaders and public intellectuals to debate ideas and set the agenda for the year ahead. Privately, it’s a chance for those leaders to pack in as many bilateral meetings as possible, often where mega deals get their start.
Here are a few pieces to help contextualize the week ahead:
Just as when I was there in 2016, the most-talked-about person in Davos will be Donald Trump, according to Breakingviews global editor Peter Thal Larsen.
Gillian Tett previews the green issues to watch for the week ahead.
Economist Adam Tooze digs into what Davos is really like, what to watch, and its role in the global economy.
Semafor is producing a daily Davos newsletter, and in their first edition provides an excellent curtain raiser for the week, including what’s on the agenda, what Andrew Ross Sorkin will be looking for, and what the WEF is doing with all that money they generate every year.
Finally, to give an example of how many interesting people you can meet in a short period, consider the following, from former Breakingviews editor Rob Cox, on why Davos is such an efficient trip:
“…a typical three hours in Davos for me will include off-the-record chats with the head of a large Spanish bank, a senior official from Saudi Arabia's government, a cosmetics entrepreneur from Mexico, the CEO of a Japanese food company and the founder of yet-another fintech startup from Finland.”
A much younger version of our newsletter writer in Davos at WEF 2017, pictured with musician Imogen Heap.
Vivace Index 👆
Our recurring feature providing a snapshot of the world by the numbers.
70%: A billionaire is now running or the main shareholder of 7 out of 10 of the world’s biggest companies. Additionally, the combined fortunes of the world’s five richest men have more than doubled to $869 billion since 2020, while five billion people have been made poorer. (Reuters)
19.6%: Amount of office space in the U.S. that is currently not leased, a record high since 1979. (WSJ)
66%: Percentage of Indian population with smartphones, up from just 15% in 2014. (FT)
$4 billion: New Bitcoin funds changing hands in the first day of trading after the SEC approved ETFs. (NYT)
-0.3%: German output contracted 0.3% last year, making it one of the weakest performers in the world. (FT)
$7 trillion: Projected increase for global banks’ combined valuations in the next five years, according to a new report by BCG. (Reuters)
$500 million: Revenue the World Economic Forum, a nonprofit, brought in last year. (Semafor)
Best of the rest
Taiwan voters “rebuff” China. Is Elon Musk’s drug use securities fraud? Who said it: Bill Ackman or American Psycho? Is DEI going quiet? Are we at risk of a “wasted decade” in global economic growth? Microsoft topples Apple to become the most valuable public company. BlackRock bets big on infrastructure. The plot to disrupt the London Stock Exchange. The best new tech from CES24.
Off the charts
Chartr has a great deep dive on Nike this week, after it was announced that Nike and Tiger Woods would be ending their 27 year partnership.
📆 Upcoming events
Jan 15: Martin Luther King Jr. Day, U.S. markets are closed
Jan 15: Iowa caucus kicks off Republican race
Jan 15-19: World Economic Forum Annual Meeting in Davos - “Rebuilding Trust”
January 25: 100th anniversary of the first Winter Olympics (FT)
Reminder: 76 democracies will hold elections in 2024. Check out this convenient 2024 Global Election Quick Reference guide compiled by Marshall Manson.
Start planning now: International Women’s Day (March 8th), which always somehow comes sooner than expected!
Friends of Vivace: News and views
Great to see former colleague Yan Qin interviewed for the FT’s Big Read story on the EU’s carbon border tax and the fragmentation of global trade.
Congratulations to Deb Walton, who is joining SS&C Technologies’ board of directors.
Congrats also to Mette Melchiorsen Kirsten, who is jumping to Breadline Africa as Head of Marketing.
Send us your shout-outs, strong opinions, and headlines to include in next week’s edition.
Thanks for joining us this week. Anything we missed? Something we should include next week? Please send all ideas and feedback to [email protected].
Spark is a production of Vivace Content, where we help our clients navigate what to say and how to say it every single day. Get in touch if you’d like a no-hassle consultation about how we can help you. Have a great week ahead, and see you next Monday.