 Well, Klaus, I think you've done such a brilliant job as the visionary of the Fourth Industrial Revolution, and I've been honored to co-author some of the books with you and be the chair of the Fourth Industrial Revolution Center in San Francisco. And it's amazing what's happening in the Fourth Industrial Revolution with artificial intelligence and autonomous vehicles and CRISPR, but I have to tell you what's happened to me here at this Davos has been quite profound because for me now I see that our community here and everyone in this room and everyone at the conference and all the people that we're connected to over the next decade is going to be the Fifth Industrial Revolution and that will be about saving the planet. That we have really a lot of work to do and we can see the rising temperatures, we can see how that affects the oceans and creates a certification, changes our ecosystems, we can see how it's impacting our forests. We're still deforestation at one acre every second, and we have to ask ourselves, is this the world we're going to leave our children one or two decades from now, especially when we can see the targets that have been set out in the Paris Accords by the leadership of Christiana Figueres, but with the Fourth Industrial Revolution what we have are the technologies that have emerged to save the planet, which is kind of bringing us into that Fifth Industrial Revolution and the people who are going to do it, and you said this to me first, is the youth, even not just the global shapers, not just the young global leaders, but really the generation still just coming in, you know they're kind of just, they're coming out of school, they have these ideas of biodiversity and leadership and it's very powerful and I want to support them and help them and I want to be the one who can, you know, help from my perspective those people and that's why I've been so motivated here at this conference. I think you, to follow up, you prepare very well for the Fifth Industrial Revolution, not only in what you are doing, but you actually hired the first ever chief, ethical and human youth officer. Yes, that's true. Can you tell me what her, it's a she, what her responsibility is and would you recommend to everybody in the room to hire such a person? Well, absolutely, Klaus, and I'll tell you, of course, you know, when we were in business school we learned we had to have a chief executive officer and a chief financial officer and a chief sales officer and so forth, but you know in the Fourth Industrial Revolution we had to add two additional officers. We had to add a chief trust officer because we realized that if your highest value is not trust in your business, then what do you have? Because you can't do business in the Fourth Industrial Revolution without the trust of your employees and customers and partners and I see that every day, you know, in my industry I see a crisis of trust and technology and then the second officer that we had to add in the Fourth Industrial Revolution was a chief equality officer because the Fourth Industrial Revolution has created inequality. We can see that even in where I live in San Francisco and you spent so much time in San Francisco and thank you for that and you see Berkeley that you've participated in, but you know, we have terrible homeless problem in the separation of rich and poor and housing prices that have gone up to a million and a half dollars and that's the Fourth Industrial Revolution is creating equality and in the Fifth Revolution we're going to have to have another officer which is that a chief ethical and humane use officer. Are we using these technologies for the good of the world? Mark, you make my life difficult because you're challenging just having published the Fourth Industrial Revolution book and having, having, let's say, coined now this expression of globalization to 4.0. Now you challenge me, I have to write again. Yes, well Klaus, you're inspiring me about it because it takes quite some time, but let me come back to the trust issue. Yes. You, you, in essence, you are the CEO or now the chairman and co-CEO of one of the big platform companies. Yes. And you just said you, you succeeded very well to maintain the trust of your clients. Yes. But what would you suggest to, let's say, all those platform companies which have lost actually a large deal of trust and it has to do particularly also with data protection. Yes. Can you, can you explain to the audience what you are, what your stand is here? Well, you know, I think we just said in the Fourth Industrial Revolution trust has to be your highest value and we even have a chief trust officer because of that we have had for several years and I'll tell you that some companies trust is not their highest value and to me that's sad. You know, I think for each one of us, each one of us in this room, everyone at this conference, we have to make a decision what is our highest value? What do we really care about? What is the most important thing right now? Every person has that and I know for you and me and for many people here trust and is our highest value that we have the trust and faith and we listen and care about others and for some people there may be still stuck and their values may not be about trust. It may be about personal gain or maybe about money making money but you have to choose. What is your highest value? Are you about trust or are you about success? And I think sometimes people put success above trust. Now I am all for success. I think it's great to have individual success and the success of the whole world but we cannot put success above trust. Trust has to be our highest value. The trust and faith we have with each other and also our higher purpose and calling that is with us and this to me is the most important thing and everything then will flow from that but when you put yourself above others then you really I think are at odds with the future. But trust, Mark, is very much related to data ownership and people lose trust because they feel they lose command about about their own personal data. That's right. What would you recommend to to some of your how shall I say cousin or sister platform companies to deal with this issue of data ownership? Is it the let's say the originator of the data? Is it the user of the data or is it the platform in between? Well I think the first thing is you have to get clear what your values are and make clear that to yourself and to your employees, to your partners and others that this is what is important to you. You've got to get clear about that what your intention is then after you're clear with that and you can say wait I do care about this and I'm gonna hold this this relationship we have with you which includes your data because they know everything about you now. What you like what you don't like who you know where you're going they can they know what's going to happen with you before you even know what happens and they're monetizing that as part of their business model for us at Salesforce you know our customers data is theirs we don't own the data we have a platform but the customer owns the data even with artificial intelligence we built our artificial intelligence in a unique way where we can't see the data that it remains with the customer. Those companies need to make a decision are they going to be in the trust revolution or are they going to be in a crisis of trust like they are now being called in front of Congress they're in and you can see their executives are walking out you can see their employees are walking out you can see their customers are voting on this already so I think the thing that is most surprising to me Klaus is one thing that they cannot get on a stage and say trust is our highest value we're sorry we made a mistake and we will go forward with trust. I just would like to make a test again who of you said it's interesting for you who of you in the audience does not use Facebook anymore please oh and who doesn't use Twitter anymore that's quite significant well you interpret this reaction. I think that these companies have been too slow to change the CEOs need to change the leaders the management team the boards of directors need to change or they're gonna lose their companies and look at how their brands have been impacted if we were here at the World Economic Forum three or four years ago we would be talking about those companies as if they just walked off of Mount Sinai the reality is now we're talking about gee where did they actually come from and maybe it wasn't a high place so that is very powerful moment for us to really think about that but you want to know what what it really says to us we have to check in with ourselves the future is about each one of us taking personal actions to improve the state of the world that's why I love coming here because I always leave with an idea of something I can do you know I'm so excited this time because our friends of ocean action and the work on the oceans has become so significant at the conference we've been at an all entire ocean day today and we saw the impact of the work with the oceans a year ago even the G7 prioritized the oceans and now the G20 is saying that they're gonna prioritize the oceans because of what they found out at the World Economic Forum that is I think so exciting and really goes to show the power of this event now I will ask you a very provocative question okay so is a lot of resentment against the so-called elite and powerful elite now you purchased with your together with your wife Lynn yes time magazine and this exposes you to let's say the criticism yes those people now they bear even the media you are not the first one but what was really your intent what is your intention behind it well I I'll tell you that I really think that today we need more ways to speak to everybody all of humanity in a trusted way and when I looked at time magazine what I found was a brand that has always been about trust it's a trusted guide for humanity and it aligns so well with my values that I want to be able to impact the world in a positive way to wake up CEOs to wake up everyone to what's happening in the world we have all this amazing technology and capability but what are we gonna use it for you know class I think you said to me once technology is not good or bad no it's what we do with the technology that matters so we have more technology than ever but does that mean necessarily the world is going to improve no it will only approve if we can see where to go and I hope that my vision and dream for time magazine is that it will continue to be a trusted guide for humanity on how to take all these incredible gifts that we have been given thank you and then use that to improve the state of the world no marks that's why I'm so appreciative of your leadership of our center for support in this revolution where we built now a whole network globally for what I would call global technology governance in order to make sure that we have a human-centered usage of so is new technologies and do not become slaves that's right new technologies well I think what you're saying is so important is that we have to look at the culture of our organizations when we see all this technology coming in and when we see companies coming now to the Presidio in San Francisco where we have this beautiful fourth industrial revolution center that you've built with now more than 70 experts from around the world doing governance and technology and also policy work and have impacted so many companies those companies their minds they're leaving a little bit changed realizing yet well actually remember Peter Drucker yeah I think he said culture each strategy for lunch you know I think that today maybe he's that's his more right than ever you know the technology is gonna constantly be extinguished itself it's constantly going away and new technologies coming in but the culture and the values this is what's permanent mark you were very courageous to take certain positions related to social issues for example a DPG the homeless and so on do and those issues are very controversial certain values accompanying those issues why should the business leader take a stand it may cost him customers it may cost them employees what's your motivation well my motivation is my customers and employees it's them that are motivating me to act in in most cases and I could give you each of those three things that you cited it was employees and customers coming to me to saying mark you must act and I think it's quite scary to act I think that many times leaders maybe are informed that they need to change or take action but they're afraid to change because let me tell you I got a call from my executive who runs Indiana were the largest tech employer in Indiana and said wow they're passing a law against LGBTQ here we're gonna lose our employees our customers aren't going to come here you have to act and we did act but what I didn't know the next day hundreds of other CEOs all went with us through that door in the same way my female executives came to me and said you're paying men and women differently for the same work I didn't believe it but we did a thorough audit and they were right and we've now looked at that three times and made three changes to make sure men and women at Salesforce are paid the same equal pay for equal work but those are my female executives asking for that and on the third piece both my employees and my customers came to me and said look at what has happened in San Francisco it has become a train a train rack of inequality the homeless on the streets we're not paying enough attention to our schools we're not doing enough with our public health and education systems we had to act on their behalf so while it might appear sometimes that I'm so bold or I'm making these actions actually I'm quite nervous and anxious but I'm doing on behalf of the employees and customers and partners and our communities who have asked me to do something on behalf of them and so then I take that action and I kind of transcend my fear notice see I notice that they have my back and that's what's worked out for me and that's I recommend that for every leader to listen more deeply now I was meeting in the corridor one of our business leaders and he told me what stroke him during this meeting is he became aware how limited now politicians are in terms of capability to act and business has to step in which means business has to assume not only a social responsibility but I would say even a political responsibility would you agree with the statement well class I think you said it right 50 years ago when you wrote your paper on stakeholder theory that businesses have to manage for all their stakeholders not just their shareholders and I think that's when you first dragged a bunch of executives here to this little town in Switzerland and said to them let's figure out how to build businesses that will be about stakeholders not just about making money and now here we are 50 years later and this is more relevant than ever that indeed what you said is true business is the greatest platform for change because well look at Salesforce 20 years ago when we started our company class we put one percent of our equity one percent of our profit and one percent of our time into a charity well it was quite easy because we had no equity we had no profit we had no employees with nothing but now we've given away a quarter billion dollars we've done millions of hours of volunteerism and we run 40,000 nonprofits and NGOs for free on our service and of course we've been able to do other things including just passing we helped get proposition C passed in San Francisco which will help raise 300 million dollars a year for the homeless in our city and I have to look at all the things that have happened with Salesforce over 20 years and I agree with you business is the greatest platform for change we must manage for our stakeholders we must realize the power in our hands to create change is with these incredible gifts that we've been given which in many cases are our businesses themselves how much should when you give a donation when you act for society how much do you see it's just passive of a philanthropy on the one hand for example you have given if I'm not mistaken 250 million dollars with your wife for the California University Children's Hospital yes how much does it need your owning on the one hand you just philanthropy on the other hand you have to engage yourself yes what would you recommend and what is your experience well it's you know you're right we've given about a third of a billion dollars to our local and nonprofits and NGOs including our universities that's separate from Salesforce and you know I hope that that came out of your personal that's my personal gifts and that's primarily we've built two children's hospitals one in San Francisco and one in Oakland we built a global preterm birth center now that was very interesting Klaus because that's really one of the only global preterm birth centers in the world and that's a partnership between me and Bill Gates we both put in 50 million dollars and that came out of a conversation that happened here that I didn't realize that preterm birth infected so many children under five years old that it has become one of the number one killers in the world and there was no concentrated focus of physicians and scientists focus on it and so I was thrilled to partner with Bill and Melinda Gates and we found incredible incredible new discoveries including that there's a genetic predisposition that there's social factors in fact yesterday we published research that if you were a preterm birth yourself that the mothers who were preterm are more likely to give birth to preterm children than mothers who are not well these kinds of insights are incredibly powerful and valuable for the world's health system and that's how it gets connected now I cannot manage a medical practice or run a you know prostate cancer research center or breast cancer research center or I can't run that those things but I know there's experts there for example at UC you know which you were involved in University of California but we have a phenomenal University University California San Francisco where I live I'm able to fund those pro stocks and physicians and I give them a little maybe a little vision and walk away I don't want to be involved operationally in my philanthropy I was today in a meeting with ministers and it was discussed how we find a balance between equity and innovation and the opinion was raised that in order to to take care of those people left behind we probably have to have a switch in our taxation policy and to move again more to tax wells to tax high incomes and less to be dependent on consumer oriented access which hit mainly so is in the lower and middle classes what is your opinion here well you can see the action I just took in San Francisco with such a runaway homeless problem that we have in our city 7500 homeless individuals 1200 homeless families with an average of two children each with it all kinds of assortment of problems but we don't have a shelter in place law like New York that is there aren't shelters that they can all go to legally every night we had to do something very unusual we had to say every company that's making more than fifty million dollars in San Francisco is going to pay one half of one percent tax and we're going to build a fund and we'll pay our tax and everyone will pay a little bit and we'll get this funded we're going to make sure these homeless people get the help they need because it turns out the medical professionals told us the key to helping the homeless is giving them a home and it reduces mental health issues it reduces addiction issues there's been publications in the Journal of American Medical Association UCSF in their Center for Vulnerable Population says published how to handle the homeless but we do not have enough money so we have to tax a little bit more one half of one percent but do you want to know what happened class it was the parting of the Sea of Reeds of the Red Sea at Split and there were two sets of CEOs one said over here who are committed to improving the state of the world and paying the tax and helping the homeless and another said over here said no no we can't do it it's too expensive we're going to impact our EPS our shareholders we're going to have to leave the city this will never work we can't afford one half of one percent and it was a war and then it was fueled and funded on both sides finally the population voted and sixty two percent said yes this is the right thing and I think that that is very much we have to look at what is our taxation systems and I think Proposition C in this fight that we just went through and in turn didn't actually be I think quite of an international media spectacle because it was so unusual but now you know we're going to be able to provide these services in a continual sustained way that's very powerful mark your role model for a business leader who is embraced as a notion of stakeholder concept of social entrepreneurship but let me come back to your business role I mean to build in 16 17 years a company from 18 people or 20 people to 40,000 people now what as a business leader you said how in you socially you you created this profile but as a business leader why did you succeed well I think you know it is kind of amazing like you're saying it's 40,000 people there's a there's a hundred and hundred something billion dollar market capitalization of the company we are mark our equity grew I think 34% last year in a down market we've had a 3400% growth since we went public in 2004 and when I look at what makes us successful in such a competitive market and in a market that has so many great companies and great products in it but yet we are clearly number one in our market I think it gets down to values I think our values differentiated us that our values created value at the end of the day and that we need to all look at how our values can create value for us it was a differentiation in our market our ability to attract high-quality employees but also high quality customers to they were attracted to who we were as a company even our board members are some of the highest grade highest quality people you know I've ever met I've been so fortunate to have a tremendous board supporting us some of our board members are in the audience here today so I just feel at the end of the day Klaus if we all want to be trailblazers if we want to march ahead in the fourth industrial revolution and move to the fifth industrial revolution and save our planet and make the changes and do everything that we know that we need to make because everyone here is so well educated and knows what we need to do then we have to assess individually our values and for those who do not they'll be left behind in a crisis of trust they'll be left behind in a crisis of equality they'll be left to behind in a crisis of humane use and their employees and customers and partners will not be attracted to them they'll leave they'll exit they'll walk out but you if you adjust your values you'll be like a magnet and you'll bring people to you and that's love that is how love works you know when you open your heart and you become a loving person you attract more love in your life and that is very much what we can do with our businesses as well it's a great metaphor values create value which means no values will never create value thank you very much bark you are extraordinary business leader and we are very glad to have you in our board of trustees and thank you I want to thank you for having shared with this audience some of the ingredients of your success thank you very much