 Good afternoon ladies and gentlemen and welcome to this second of our co-chairs press conferences for the annual meeting of new champions My name is Adrian Monk from the World Economic Forum I'm very pleased to be joined by three of our co-chairs Mitchell Baker Executive chairwoman of the Mozilla Foundation from the USA and also on our Global Agenda Council on data-driven development Nathan Blecharsik co-founder and Chief Technology Officer of Airbnb also a technology pioneer of the forum and Jeffrey Tarr president and chief executive officer of Digital Globe Who's also on our Global Agenda Council on space? So we really are making very good use of our co-chairs as you can see in other forum activities I'm going to ask them to share a little bit of their hopes and their expectations of this meeting with all of you and then we'll have some time for questions afterwards and I'm just going to start with Mitchell and Ask how the internet has matched up to its expectations for the growth and productivity Increases that we're all after in the global economy Well so far, you know the internet has exceeded any possible set of expectations It's easy to forget the internet is 20 years old Really a 20 years ago in August when it really came to the consumer scene and so far it's changed Much to all aspects of life for those of us who are connected So I think it's pretty impossible to Imagine what could have happened 20 years ago with the internet So the real question though is going forward What kind of potential does the internet have to continue to bring the kinds of changes and growth and innovation that we've seen today? You know the answer is the potential is there The power of being connected of having our economies connected our technology connected our social Networks connected our immense and the internet offers all of those things There are a Host of ways in which growth of the same scope and scale is possible Some of that will perhaps just happen and some of that requires focus So the potential is huge we need to do a few things One is actually commit to interconnectedness Over the last 20 years. We've seen interconnectedness of economies and people grow and that's important to continue So that's an interconnectedness and an openness that allows for global markets Allows for a global exchange of ideas and allows science technology and innovation to reach its full potential We actually need to commit to innovation. It sounds easy. It's actually much harder to do And so to really focus on the aspects that bring new possibilities and to work hard at it We also should commit to a global internet in our world of interconnectedness The internet is one of the great tools for moving things forward We need a global internet and not a series of local fragmented smaller networks and that possibility of Continued great growth into whole new areas is enormous. There's still billions of people not yet connected That's a huge potential for growth for those of us living in already connected worlds whole new possibilities are open There is the digital transformation of industry which has only just begun and there is the increasing mixture of data and Information to benefit not just industries but consumers and so my hope for the forum is that we address a new Course for growth that is global sustainable equitable and personal Growth needs to be global or we increase in stabilities Sustainable is necessary for economies and for our planet Equitable growth is important for stability as well as individual human beings and Personal growth is looking at growth both through increased GDP But also the possibility of every individual to increase their place in the value chain and To pursue the activities that are important to them And I expect this annual meeting to be very productive in charting this new course for growth the meeting has a Unique collection of people breadth and depth and is also a proponent of the multi stakeholder view of Life which is incredibly important particularly to the internet and to continuing to grow the possibilities of Interconnectedness. I'm honored to be a co-chair and looking forward to the events that come. Thank you Mitchell, thank you very much You talked about multi-stakeholder Collaboration as being part of this meeting and we have 1700 participants from some 90 different countries Jeffrey, can I turn to you and ask you how? Collaboration between some of those participants can move us towards concrete action on some of the development issues We're faced with certainly We live in a world where the challenges we face today are far too complex for anyone organization or nation to solve alone World Economic Forum and This very important event is bringing together innovative leaders from across government industry academia and global development organizations and By doing so it enables new connections and with those connections new solutions I can speak from experience having attended events in the past That connections made and fostered by the World Economic Forum have enabled us to make Contributions to some of the world's greatest challenges for example last two years ago at Davos I met with Andrew Steer the CEO of World Resources Institute that led to a collaboration Which has helped us contribute to the mitigation of the environmental impact of forest fires in Indonesia and fires started by As a result of land conflict and clearing lands for palm oil a Meeting with Chris Elias Elias of the Bill and Melinda Gates Foundation with Bill Gates himself last year Led to a partnership which has enabled us to make a contribution to their extraordinary efforts to Eliminate eradicate polio Where it exists in the world? My hope for the next few days is that We will I'll be able to make new connections that will help us contribute But also as co-chair more importantly to help others do the same to make those kind of connections that Enable those here and the World Economic Forum to contribute to some of the most pressing global challenges of our time and Also to contribute to economic growth that comes from collaboration Jeffrey, thanks very much one of the Voices we heard from from China this morning was Chong Wei of the DD Qwadi One of the companies that's almost synonymous with the sharing economy is Airbnb If I can turn to Nathan Blacharszek and ask you Nathan How is the sharing economy going to deliver on the promise and the expectation? Is it are we placing too much hope on on what it can do for us in transformation terms? Well, this is my third year at the Annual meeting of new champions and my first year here. I must say that The sharing economy was an obscure term Airbnb was an obscure term most people here hadn't heard of it It wasn't on their radar, and I think really over the last two years. It's become a really big part of the the agenda in conversation here and Everyone I've met has has used Airbnb And I think it really speaks to how far we've come into the fact that this idea has scale Incredibly so and in that sense, I think it has met the expectations that were originally laid out But of course the real question is how big and how mainstream can the sharing economy become? You know in the Airbnb case 50 million guests have used Airbnb today 17 million alone this summer So incredible trajectory, but where will it all end? And I think my hope for the conference this year is to have a conversation across industry and With different heads of state and figure out how do we connect this new and clearly very powerful concept to? traditional business and and traditional governance to to really realize the full potential of the sharing economy and For their mainstream this activity Thanks to all of our co-chairs. Can I just get a sense in the room of questions? I know all of them have full schedules and appointments lady the front and Can we get a? Microphone to you. I think we might have to pop our headphones on non-Chinese speakers amongst us and If you give us a moment to do that that would be fantastic. It's on channel one for the English translation Sorry, I was remembering your question this morning I have a question for blackie and my question is that what's your opinion of the relationship between innovation and sorry between innovation and the regulatory and What experience do you learn from the American and the European markets about this and how can't be used in China? Thank you Well, I think initially it was important to prove the model before there was really a willingness for For regulators to have a conversation Now that it's clear that this this model has the potential to scale and impact many people We are trying to engage in conversation as proactively as possible and we've seen a lot of progress There's been about 12 different Countries and cities in the last 18 months That have engaged in conversation deep discussion and past new policies balance policies for the 21st century That strike the the right balance between growth But also making sure that our guardrails and in place And I think this is something that we expect and hope to play out in Asia, too I think this is a concept that was born in the US and Europe But now most of the fastest growing countries in the world are in Asia China is our fastest growing from a consumer demand perspective And so I think hopefully will not be too much longer until we can have and see substantive change from a policy perspective in Asia Thank you. Can I lady at the bank? Hi, um the question that I have that dovetails you just tell us your name I'm Sylvia with Barita Satu in Indonesia So the question I have that dovetails the answer that you just gave is it's into well Indonesia is the second largest Market for Facebook and Twitter. So we're just wondering what plans does a B&B has for Indonesian market And whether in general is Indonesia on your radar Okay, and can I also just get a sense of if we have other questions For the panel because I want to make sure I bring in our other two co-chairs So we have questions more broadly lady there and lady there my quick response will be that Bali certainly a very popular destination and one where we've had some activities meeting with our community All of Asia is growing very quickly But we have to prioritize our focus has really been on China in Japan And soon to be India Thanks Lady there Thank you. I'm the journalist from CBN news and I got a question for them and You mentioned that you have 50 million customers now and I want to Know how many customers are from China and what's your next plan to open up China market? I Don't have the specific breakout from China But what I can say is China is the fastest growing outbound market It's grown 700% in terms of travelers coming from China going elsewhere in the world using Airbnb And so we see huge potential here obviously someone question for For our other coaches picking up off that is is what to what extent is China going to become a Place where lessons are imported to one where lessons are exported where we're seeing China as somewhere where we have to Not just bring Practices in but export practices from Jeffrey. Well, we see China as playing both roles And the way that we participate in the market in China is primarily through a joint venture With a Chinese entity China Seaway, which is part of CASC Mitchell Well, there's no question that China is and will be an even bigger source of innovation And new ideas going forward. I think the degree to which those export well Depends a little bit on the nature of the Chinese market and the structure if it's a very highly localized market and if it's a market that's protected from Global competition then I think the export of Chinese innovations will be much more difficult because they will be Very locally grown and that's of course difficult to market. So I think the extent to which the Chinese Economy is open and and participates in a give-and-take with the global economy will increase the opportunity For Chinese companies to become truly global Lady that with the microphone I will asking Chinese okay the theme of this annual meeting is technology and growth But innovation is more than just technology It also include complices many other environmental, you know a talents issues. So This question could be small could be big. So what do you think is the real driver for economic growth It's just science technology or something else. So what is the real driver? for economic growth second question For your institution in which you are working for What is the fundamental driver for your long-term sustainable growth? It's one of the sub themes for this meeting is being human So human capital I think is a big part of what the forum sees in addition to technology and innovation as being crucial to To the future of economic growth But if I can turn perhaps first to you Mitchell and just ask on those two points What do you see as one of the fun as the fundamental driver Of economic growth and also what's important to to your foundation in terms of long-term? I say there's a few different drivers of economic growth a few fundamental ones You can start with that, you know a healthy population for example You know or resources, but I'll focus more on the innovation technology question The key piece the key driver for us at Mozilla is the strength of our networks That that means the underlying physical network, but it also means the social network of people So not just human capital, but the connections between people and what they're doing and also the innovation networks where do ideas come from and It's that combination for us because we're completely internet company There's there's nothing we do nothing really we grow communities, but but we're completely about the network It is actually the strength of the networks that sit on top of that including real connections between people and Unexpected connections, which is where innovation comes from Nathan Yeah, I would say there's a few components to economic growth I think you know it's gonna start with a powerful idea But then the question is how can you scale that idea and then ultimately what is the impact of that scale? With regards to scale, I would say Ideas that can engage a broad set of the community are the most powerful And I think maybe most important for driving global growth and making sure that Everyone gets to participate in that growth, and I think in the Airbnb case You know, this is one of the few economic opportunities that are really open to All the middle class at the very least which is to say if you have a home and a little bit of hospitality You can participate in this community and derive a second income and then thinking about impact for for our company We are very mission oriented We think about our long-term impact on the world not as an ROI calculation But to what extent have we achieved our North Star of helping People to belong anywhere, which means when someone is traveling outside of their element Can we connect them and make them feel at home comfortable even while discovering something new? That is our mission, and I think it's really important that companies have a strong Mission and that they articulate that mission to their community and not just have a narrow mercenary focus Jeffrey I would say when it comes down to economic growth The solution or the the fuel is innovation It's open markets, and it's geopolitical factors When I look inside my own company it comes down to talent in that talent creates new innovative product offerings that meet real customer needs And maintaining a leading edge in technology, and that is only possible by collaborating with others Just probably have time for one more question If I can just look around the room and see if we have one more question to for the panel Or else I'm going to release them into the wild and send them back into the Congress Center to their next sessions So I hope you'll join me in thanking them and look forward to seeing all of you back for the next press conference It could have us to thank you very much indeed. 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