That same year, Palantir went nuclear: It sued the Army, accusing it of improperly excluding the company from the competition for the next stage of DCGS—A.
Several former military officials told me there was no personal bias against Palantir. The issue, they said, was the way the company had ignored the rules by giving away free goods and services in the form of Palantir software and training. Elon Musk, the founder of SpaceX, sued the Air Force in his quest to break into the market for military rockets. Just days after winning its lawsuit against the Army, Palantir had another stroke of good luck.
According to emails that Andrew Granato, the Stanford graduate, received under the Freedom of Information Act, Thiel met in January with Francis Collins, who was on his way to Trump Tower to ask the president-elect to reappoint him as head of the National Institutes of Health.
At the same time, he nudged Thiel about his reappointment. More taxpayer money quickly followed. The company has lost two of its biggest supporters in Washington. In January, Duncan Hunter resigned from Congress after pleading guilty to corruption. In July, Kratsios — a year-old with an undergraduate degree in political science — became acting chief technologist at the Pentagon, where he replaced Mike Griffin, a former NASA administrator with a Ph.
Like all smart defense contractors, Palantir has ensured its future in Washington by spreading money around to Democrats as well as Republicans. But despite all its federal contracts and bipartisan connections, Palantir is far from healthy. After nearly two decades of aggressive marketing, the company is still losing money and burning cash. In that light, analysts say, its decision to go public amid a historic economic downturn could be driven by investors and longtime employees eager to be paid out.
Palantir has struggled to expand its commercial business, a key pillar of its promise to investors. Palantir has also had surprisingly limited success in marketing itself to police, a seemingly natural customer for software that can track criminal networks.
The company worked pro bono for the New Orleans Police Department for six years on a secretive contract to target alleged criminals, but the project appears to have ended in He dispatched a member of his analytics staff to help Bronx detectives use Palantir to create a map of gang members and their activities, marrying data from social media and a wide variety of government sources. Hundreds of officers and federal agents swooped down on the Bronx, bursting into homes and waking families at gunpoint.
Every time the NYPD asked the company to add more data, the price went up. The need for customization points to a deeper problem for Palantir. The acronym stood for Rooms Full of People, meaning the army of analysts required to clean up the data and crunch the numbers.
Is it artificial intelligence parsing large data sets of complex financial transactions to find the next terrorist? Or is it a room full of eager software engineers sleeping on the floor? Palantir portrays its software as like its namesake — a crystal ball you gaze into for answers. The company emphasizes that it has reduced the time needed to get its software up and running, and former officials told me Palantir has made big improvements to its back end over the years.
That distinction did not matter to the soldiers in Afghanistan who were trying to pinpoint IEDs, but it makes a huge difference to potential investors, because Rooms Full of People are not nearly as profitable as simply installing software and walking away. But the problem is that all of these data sets are terrible.
It may be entered inconsistently or provided in wildly different formats or riddled with inaccuracies. The interface struck me as user friendly, something anyone with basic computer literacy could figure out. Want to know how many aircraft are available for a specific mission and how long it will take them to get to their destination? With a simple query, Palantir can tell you. It sounded a lot like Rooms Full of People. On September 9, Alex Karp appeared on an investor webcast dressed in bright sports gear and hiking up a trail on roller skis.
News Title. Peter Thiel's Palantir Technologies now accepts bitcoin for payments. Data analytics firm Palantir now accepts bitcoin for payments. The company is also considering adding bitcoin to its balance sheet. The startup hopes to capture more Pentagon AI contracts, as well as win over healthcare and manufacturing clients, in a path similar to Palantir's. Palantir continues push beyond defense contracts with new life sciences capabilities.
Palantir signs contract with National Nuclear Security Administration. With a new contract finalized last week, Palantir will supply software for government's nuclear weapons branch as it seeks more deals under Biden. Palantir posted a surprise loss in their Q4 earnings, but Goldman analysts are bullish on the company, citing a path to "sustainable growth.
The data software company attributed losses in the final quarter of to operating expenses, including stock-based compensation and payroll taxes. Palantir's God's-Eye View of Afghanistan. The company's software can sift through enormous amounts of data, and those metrics can be used to make life-or-death decisions. Early employees of PayPal went on to create nearly a dozen major tech startups after leaving the company.
The financing was led by Presight Capital, with participation The pandemic has shifted how many tech companies value in-office work, leading many Bay Area residents to migrate to more affordable cities. Soros Fund Management also disclosed a stake in Palantir, but told CNN on Tuesday that it had already sold its stake in the big data company. Palantir cofounder Joe Lonsdale already moved his family outside of the Bay Area, and now, he's moving his venture capital firm too.
Secretive, never profitable Palantir makes its market debut. Seventeen years after it was born with the help of CIA seed money, the data-mining outfit Palantir Technologies is finally going public in the biggest Wall Street tech offering since last year's debut of Slack and Uber. What's a Palantir? A tech start-up named for objects in "The Lord of the Rings" has become a major government contractor.
But what it does is not easy to understand. Secretive data startup Palantir has confidentially filed for an IPO. As the coronavirus pandemic spread throughout the world, Palantir pitched its technology to bring big data to tracking efforts.
Palantir Technologies Files to Go Public. Company attributes Industry. Artificial intelligence AI. Software engineering. Enterprise software. Geospatial intelligence. New York. Palo Alto, California. Company status. Palantir was founded in by venture capitalist and Paypal co-founder Peter Thiel along with Joe Lonsdale, Stephen Cohen, Nathan Gettings, and Alex Karp, its eccentric CEO who has a law degree and a PhD in neoclassical social theory and keeps 20 identical pairs of swimming goggles in his office.
Palantir even sued the US Army in to force it to consider using its intelligence software after the Army chose to go with its own. The company suffered one of its first rounds of bad press in when a hacker discovered it was part of a proposal to Bank of America to sabotage Wikileaks.
Palantir denied working with the NSA on that particular project but has worked with the agency on others, according to an internal video that was leaked to BuzzFeed News. The program ended in amid doubts that predictive policing was an effective crime deterrent, as well as criticism from civil rights organizations that it unfairly targeted minority communities.
In the past few years, nonprofits have dropped Palantir as a corporate sponsor, and students regularly protest Palantir-related campus events and recruiting sessions. He has a personal security guard at all times.
That reputation has followed Palantir even as its technology seems to be doing some good during the Covid pandemic. Palantir admitted in its filing that negative coverage — which it said was often inaccurate and misleading — and the resulting public perception of its services could damage its relationships with current customers, dissuade potential new customers, and upset both investors and employees.
An investment in Palantir only serves to profit off the continued surveillance and exploitation of communities by ICE. Palantir is also controversial because its co-founder and board chair, Peter Thiel, is controversial.
Its contract with ICE caused numerous civil rights organizations to blame Palantir for helping the agency find and deport unauthorized immigrants. While other companies were ending their relationships with certain government agencies over purported ethical concerns, Palantir renewed its ICE contract in despite reported opposition even from its own employees, some of whom left the company over it.
We stand by them when it is convenient, and when it is not. Perhaps to that end, Palantir recently moved its headquarters from its longtime home of Palo Alto to Denver, Colorado. They might say the wrong thing all the way through an interview. But Karp has seemed more amenable to the idea in the last few years. When Palantir added its first female board member in June, a public filing seemed all but certain — according to California law , public companies must have at least one female board member.
Palantir filed its initial paperwork with the SEC on July 6 in a confidential filing that allowed it to avoid revealing much about its inner workings to the public. Twitter, Uber, and Spotify, among other startup giants, have done the same thing. But has been mostly good to Palantir, if to no one else.
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