A new global villain has emerged at the Alpine conclave of the great and the good: the over-mighty "corporate state" beholden to nobody.
Google and Facebook have crept up on the Pentagon and the Central Intelligence Agency - or Britain's M16 and Germany's BND - using their vast wealth to develop sophisticated technology that goes far beyond social media and is beginning to impinge on core issues of national defence.
Prof Mary Cummings from Duke University said the two digital empires have acquired drone technologies that exceed anything available to the world's most powerful intelligence agencies.
"Sorry to drop that bombshell on you all", she told a panel on the Future of War at the World Economic Forum in Davos.
These "corporate states" - as she calls them - are the shadowy forces of globalisation, operating at levels that few understand, and they have until recently escaped serious scrutiny.