A Tale of Two Realities

Events

Research

Jan 28, 2026

Observations from Davos

Davos has always been a place where different worlds collide. This year, they barely made contact.

For those who’ve never been, a quick primer: Davos is a ski town in the Swiss Alps that has hosted the World Economic Forum (WEF) since 1971. To “go to Davos” means going during the week the WEF is in session.

The WEF has its own Congress Center in the middle of town. Security is tight. Invitations are reserved for heads of state, Fortune 500 CEOs, and recognized global thought leaders—plus their entourages. What happens inside the Congress gets covered extensively by international media.

But outside the Congress Center, there’s a parallel Davos that’s harder to see from afar. Hundreds of events run throughout the week, most of them not officially part of the WEF program. These are organized around “Houses”—branded spaces that corporations, nonprofits, and coalitions sponsor along the main drag, known as the Promenade. This year, Palantir had a House. Anthropic had a House. There was a USA House, a Ukraine House, an AI House sponsored by a consortium of tech companies and nonprofits. And beyond the Houses, a giant dome hosts speakers who draw crowds as large as anything on the official program.

If you are not a billionaire, a world leader, or traveling on a lavish corporate tab, your Davos experience is unglamorous. You split a small room with six people in a town a few kilometers away, or a hike up the mountain. You email relentlessly to secure meetings, land on VIP lists, and get into events. You’re cold. You’re hungry. And every warm space and restaurant has been converted into a private reception.

I offer this context because while the Congress proceedings are widely reported, the real texture of Davos is in what happens at the Houses. This is one of the biggest stages for international conversation outside of formal diplomacy. Sponsoring a House on the Promenade costs a fortune. People come with purpose.

This year, that purpose was unmistakable. It was written on the billboards: “We Help Determine Your ROI on AI.” “The Future is AI.” “Your Home for AI Solutions.”

AI wasn’t just a topic at Davos 2026. It was the topic. And the conversations about it revealed three disconnects that anyone thinking seriously about AI governance should be watching.

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Fathom is a 501(c)(3) organization funded by philanthropists. We do not take donations from corporations, including frontier labs and the FAANG companies, or foreign entities associated with countries of concern.

Independent.
Nonpartisan.
Nonprofit.

Fathom is a 501(c)(3) organization funded by philanthropists. We do not take donations from corporations, including frontier labs and the FAANG companies, or foreign entities associated with countries of concern.

Independent.
Nonpartisan.
Nonprofit.

Fathom is a 501(c)(3) organization funded by philanthropists. We do not take donations from corporations, including frontier labs and the FAANG companies, or foreign entities associated with countries of concern.