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

  • 📰 Forbes
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

Palantir cofounder Joe Lonsdale defended the newly public data mining company amid the ongoing criticism by AngelAuYeung

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Joe Lonsdale: Why we built Palantir and what's next after going public - 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. i think you guys misread it - it already has done so multiple times over. But appreciate you sharing the op-ed!
Source: BusinessInsider - 🏆 729. / 51 Read more »

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
Source: BusinessInsider - 🏆 729. / 51 Read more »

The Palantir non-IPO: 5 things to know about the (formerly) secretive software company’s direct listingPalantir Technologies Inc. was known for years as being the most secretive unicorn startup in Silicon Valley, but going public has turned the company from a... Im concerned about its IPO.
Source: MarketWatch - 🏆 3. / 97 Read more »