Karp, a Palantir cofounder with a PhD in philosophy, opened the digital event roller skiing through a forest outfitted in exercise garb and goggles, and laid out what would remain his main argument throughout the 2-hour presentation: "Our business is just different than what you'll find in most software businesses.
For Palantir, which is eschewing a traditional IPO in favor of a directly listing, making a good first impression with investors is critical. Since investors — whether institutions or laypeople — buy shares directly from existing shareholders in a, it's important to get people hyped about the company, or the shares won't sell and the stock price will fall. Traditionally IPOs ensure against crashes by selling large chunks to institutional investors, who can stabilize the price.
Kevin Kawasaki, the company's head of business development, highlighted Palantir's 49% jump in revenue during the first half of 2020, compared with the period before, part of what he said was a trend of accelerating rate of growth revenue.Palantir works with private companies, like Chrysler, BP, and banks, and with government agencies, including the branches of the armed forces.
"Palantir builds stacks five to 10 years before the general public realizes that this way of looking at the world will literally save your institution," Karp said. "We compete against ... our customers' desire to build their own solution internally," Sankar said. Crises are "a tailwind for us because it means that the competitive alternative of building your own solution in three years or more, it's just not viable.
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