Palantir Cofounder Joe Lonsdale Defends The Newly Public Data Mining Company Amid Ongoing Criticism

Palantir Technologies, the once-secretive data mining company, went public through a direct listing on Wednesday, hitting a market capitalization just north of $20 billion on its first day of trading Wednesday. The journey to IPO has been bumpy and at times controversial.

Throughout the years, Palantir has faced criticism for its work with the government, particularly its contracts with the Department of Homeland Security and Immigration and Customs Enforcement Agency . On Monday, international human rights organization Amnesty International released a report detailing how Palantir software was being used in problematic raids of migrants that led to the separation of parents from their children.

Lonsdale further explains that Palantir is simply “augmenting” what the government is already doing in a more efficient way, “What people need to understand is that Palantir was built originally as a privacy engine,” he says. “If there is a crisis going on and the CIA needs to share something in a certain way with MI6 within an hour, they can suddenly now do that, versus hiring someone to come in for three months.

AngelAuYeung Palentir is a funder of child trafficking hotline...

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Palantir officially begins trading through a direct listing - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. $NAK about to pop on partnership. BMogues It just seems like Silicon Valley pomp. Tout a lot about margins and Gov’t but it’s clear as mud where they are going. Kind of feels like the ranks Bring on some more Robin Hooders for the slaughter
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