After the presidential inauguration on Monday, global leaders’ attention shifts today to the World Economic Forum. Or does it? Businessweek Editor Brad Stone reports from Switzerland. Plus: An update from our investigation into the human egg trade, and ideas for spending your annual bonus. If this email was forwarded to you, click here to sign up.

This week Washington, DC, and Davos, Switzerland, are both bitterly cold, covered in a layer of treacherous ice and drawing the attention of the entire world. After that, the similarities pretty much end.

Washington was home to President Donald Trump’s second inauguration on Monday, a tech CEO-studded affair that made an explicit promise to put the US’s welfare ahead of the rest of the world’s. “From this moment on, America’s decline is over,” Trump said from the dais in the Capitol Rotunda. “We are at the start of a thrilling new era of national success.”

It was sunny but snowy on Monday in Davos, Switzerland, for the World Economic Forum. Photographer: China News Service

On Tuesday, almost 3,000 political and business honchos from around the world converged on Davos for the annual meeting of the World Economic Forum. The gathering is often lampooned as an extravagant networking event for the well-heeled. Unlike the inauguration, though, it unapologetically touts high-minded ideals to “drive global change” and “improve the state of the world.”

The two events are a study in sharp contrast. The inauguration was about Trump’s vindication after four years in the wilderness, the expulsion of his political and philosophical enemies from power, and a celebration of allies such as Elon Musk. At the WEF, panel discussions and private conversations revolve around measuring the impact of threatened tariffs but also safeguarding climate alliances and improving global health. (Check out Bloomberg’s rolling live blog of Davos coverage.) It’s clear, however, that the concerns of Washington are ascendant.

From left: Priscilla Chan, Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk were among the tech executives and their guests who attended the inauguration. Photographer: Shawn Thew/EPA

Many of Trump’s inaugural guests are at the forefront of AI technology, and those in Switzerland are left to gauge how disruptive it will be. “I think the mid to early part of the 21st century will be remembered not for the existence of Donald Trump but for the moment that artificial intelligence changed society,” said Larry Summers, the former US Treasury secretary, at a lunch on Tuesday hosted by the technology company Sandbox AQ.

A few business chiefs like Uber CEO Dara Khosrowshahi, Scale AI CEO Alexandr Wang and Coinbase CEO Brian Armstrong overcame the logistical challenges to straddle both worlds. They partied at the inauguration, then made for Switzerland. But it was impossible to escape the feeling that these are two entirely separate universes. While the elites gathered in Davos, the counter-elites—a new generation of upstarts seizing the levers of power—had a triumphal coming out party in Washington.

Deglobalization is suddenly fashionable, but it’s hard to tell from the promenade in Davos, where the sponsored halls stretch from the Google House on one end to the yellow-and-blue-draped Ukraine House on the other. Celebrities like David Beckham, Diane von Furstenberg and Maria Sharapova partied among the CEOs and heads of state; and on Monday, climate activists covered the Amazon House in green paint, then sat forlornly in a police van as workers easily removed it.

In perhaps the greatest endorsement of Davos’ stubborn relevance, Trump himself is scheduled to appear at the forum virtually on Thursday; he previously attended twice.

Børge Brende, who’s been taking over the leading role at WEF from founder Klaus Schwab, naturally thinks Trump’s involvement is a positive signal. “It is very good that we have had Trump here. As it’s very good that we have had Prime Minister [Narendra] Modi here and Xi Jinping and [President of the European Commission] Ursula Gertrud von der Leyen. Even in this polarized, fragmented world, I think there are still areas where world leaders really need to talk to each other. The forum’s strength is that we bring people together, we set an agenda, but we also let the leaders then themselves try to find common ground.”

That may be a slightly optimistic assessment. If the televisions tuned to the inauguration on Monday proved anything, it’s that the global agenda, at least this year, is very much being forged in DC instead of Davos.

In Brief

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Human Eggs Were Stolen, Greek Police Say

A Greek police probe of human egg theft uncovered repeated instances of trafficking in human genetic tissue at a clinic on the island of Crete that had once been a hub of the international fertility trade.

The national police said it had identified “75 cases with 11 victims” in which eggs and sperm were trafficked without the knowledge of the donors or the recipients, according to a press release on Monday.

In two such cases, police found that embryos were created with “eggs from the same woman and sperm from the same man, with this identical genetic material being distributed to two different couples,” the press release said.

The announcement follows a Bloomberg Businessweek investigation that reported that Greek police had identified as many as 75 cases of alleged theft of eggs taken from the ovaries of IVF patients at the clinic. The investigation, published last month, detailed how the human egg has become a precious resource, traded around the world.

Vernon Silver and Fani Nikiforaki have the update here: Greek Police Say Eggs Were Stolen From IVF Clinic Patients

The Right Stuff: Bonus Spending

Source: Companies

Bloomberg Pursuits publishes a monthly checklist of new products, innovations and experiences that have caught our eye. This time around, we preview some of the best stuff on which to spend your bonus. Here’s a sample:

Must See-Through TV
Typically the test of a television is the clarity of the picture, not of the screen. Astoundingly, the 77-inch LG Signature OLED T succeeds on both counts, with a transparent 4K display that frees you to place the $60,000 smart TV anywhere in a room—like in front of a window or as an art display. Engage the retractable black backshade when it’s movie time.

Fire Cooking With the King
Argentine chef Francis Mallmann, the food world’s modern Prometheus, is offering a once-in-a-lifetime five-day intensive course on his own private island in Patagonia. Along with learning the art of preparing meat, fish, poultry and vegetables with flames, embers and smoke, there’s also fishing and hiking and the chance to explore one of the world’s more remote and stunning spots. It runs March 21-30 and starts at $21,400 per person.

Splash Into Better Health
To reap the benefits of a cold plunge—improved mood and sleep, reduced inflammation, a boosted immune system—you don’t need mood lighting, a padded headrest and an ambient, app-driven breath timer. But if you’re sitting in 40F (4C) water for more than six minutes, a little luxury doesn’t hurt. The $15,000 Kohler x Remedy Place ice bath, available for preorder, can be used indoors and outdoors. It has an integrated UV water filter and can also heat up to 104F when you want to chill without being chilled.

Keep reading: How to Splurge Your Bonus, From Transparent TVs to Ice Baths

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