The podcast delves into the theme of the upcoming World Economic Forum at Davos which is 'Rebuilding Trust'. The hosts question the substantive value of the event and highlight the contrast between Davos' self-presentation and its actual substance. They also discuss the bid by Japan's Nippon Steel to take over US Steel, examining the national security argument against the takeover bid and the potential impact on union jobs. The hosts raise concerns about the deal and criticize the Biden administration's lack of action.