The Real Davos

http://www.businessinsider.com/the-truth-about-davos-what-happens-when-you-dont-get-invited-to-any-parties-2011-1#

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"It's what you learn after you know it all that counts." (John Wooden)

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The most important thing to know about "Davos" is how unimportant it is. And, Henry Blodget has written an outstanding post this week that I would not have read if it weren't for Andrew Ross Sorkin and his team at "DealB%k" (NY Times): "THE TRUTH ABOUT DAVOS: What Happens When You Don't Get Invited To Any Parties."

An absolute must: once you read Blodget's post (attached), click on "Let's go to the McKinsey party!" at the end.

Whether or not Blodget had planned to go to the McKinsey party, he ended up trying to go after Nouriel Roubini walked by and said he was headed there.

Some Priceless Data:

1. An annual membership to the World Economic Forum (required if you want a ticket to Davos) costs $52,000.
2. A ticket to Davos itself costs $19,000, plus tax (that's $71,000 for one person to come).
3. If you want to go to the private industry sessions (most think that's where the real value is), you have to become an "Industry Associate," which costs $137,000 per year.
4. If you want to bring a colleague, you can't just buy another ticket for $19,000 -- you have to upgrade your membership to "Industry Partner," which costs $263,000 (vs. $52,000). Then you have to buy the two tickets, for a total cost for two people of $301,000.
5. If you want to bring a bunch of colleagues (max. 5 per company), you have to upgrade the membership to "Strategic Partner," which costs $527,000. Then you have to buy the 5 tickets for $19,000 a piece. So, bringing 5 people costs $622,000.

(And, none of this takes into account "jet fuel", hotel costs and whether you want to throw your own party)

All this, just to go listen to Bill Clinton or schmooze with Nouriel Roubini about economic disaster!

What a deal!