“Palantir is capitalizing on a network of executives and officials who move between the company and high-level positions in Washington and Westminster, influencing its exceptional growth. The data intelligence company, backed by billionaire Peter Thiel who supports Donald Trump, has seen a significant increase in its stock price due to government contracts and partnerships with major corporations.
Research by the Tech Transparency Project (TTP) uncovered Palantir’s extensive ties to key government agencies crucial to its business. The company has secured billions of dollars in contracts in the US and UK, with a significant portion coming from the Department of Defense. Palantir has also increased its lobbying efforts and established a non-profit foundation to shape policy discussions.
While Palantir’s technology is praised for its analytical capabilities, its executives have been involved in political circles, including supporting Trump and hiring former government officials. This revolving door of personnel has allowed Palantir to gain influence in decision-making processes and secure more contracts.
The company’s top executives have profited greatly from its success, with shares soaring and substantial earnings from stock sales. Palantir’s chief, Alex Karp, remains optimistic about the company’s future prospects and its ability to benefit from increased government spending on national security.
In addition to hiring former government officials, Palantir has significantly ramped up its lobbying efforts, hiring prominent lobbyists and establishing a lobby trade group to influence defense policy. The company has also set up a foundation to fund research and policy discussions, both in the US and UK.
Palantir’s growing ties to government officials and its increased lobbying activities have raised concerns about its influence on decision-making processes. The company’s involvement in high-level meetings and its connections to key government figures have sparked debates about the transparency and ethics of its operations.”