I want to just start with Palin, 10,
founded out of 9/11. You've won business from the pandemic.
You've won business from the war in Ukraine.
Does Palin team need chaos to thrive and grow?
Does it need that kind of environment? We build products that
that shine under war conditions. So the more businesses experience
turbulence, the more the world experiences pandemics.
And unfortunately, worse, the more the tools you need actually have to work.
Our competition is jargon. Power points, fraudulent products.
And these products just disappear. When you have economic crisis, right,
pandemic, you have a war. And the stuff we've been building over
20 years, China and you see this.
You saw this in the counterterrorism context.
We saw it in the pandemic context as discussed here.
Well, a lot of that those public sector is a government.
I think what's interesting about foundry time and what we hear is a lot of those
in attendance, the deals you announced, they're actually private sector.
Well, if our theory and it's being proven is exactly the same thing happens
in the commercial sector. So if you're you have all these data
architecture, which is basically 50 products that are churning your data,
pleasuring you or providing no real alpha,
when times get bad, your supply chain gets broken.
You have to deal with a different kind of workforce.
You are you're drilling for oil under regulatory conditions that you find to
be new and harsh. You have to track emissions.
You have to rebuild your supply chain. The old products just don't work.
One of the pieces of news is some part of expanding its relationship with a 50
million dollar extension, but it's already at five.
My question is, how reliant is commentator on the private sector right
now and kind of an existing cluster of clients growing?
What do the new customers? Well, we like both.
You know, we really like the older customers because we've shown it's work.
And we can say, look, we're creating a billion in value.
We obviously should we should expand our software offering.
We like new customers. I mean, the unvarnished version is found
here is growing like a weed in the US, which is adaptive and embraces new
technologies. And we are embracing that.
Can I ask you a mechanical question? Yes.
Your target rate for a 30 percent annual growth by 2025.
Mechanical question. But the new deals you're announcing
today, evidence that you're on track to DAX.
Mark my words literally shoot me if I answer questions like that.
But if you look at what's going on in the world, radical disruption, our
products are succeeding and the US market, part of the reason I can't
answer that question is you'd have to say, well, we get to for our U.S.
market growth is really impressive to get back something you're talking
about on stage where you've been active, the war in Ukraine being one example.
But also healthcare. And when you sit down yourself, I know
you've done a lot of the deals with public sector in the past 20 years, but
also private sector. How do you get across that data?
Competency is an advantage in warfare, in ESPUELAS or in healthcare.
It really depends on the unique Ukrainian context.
They had talked to the most important clandestine service in military in the
world. They unanimously recommended Palantir
and they're very technical. So that's then you have newer clients at
this stage. My basic thing I tell clients partners
is like, look, everyone will tell you the same stuff.
It all looks the same. Why don't you just see our stuff in
action or talk to people who use the software?
You know, if you're going to buy the software off the PowerPoint, don't buy
us. You want to talk to someone who's used
our software, your bias. I know you're proud of your engineering
team. You lead engineering.
Right. But you've also done a lot on the sales
side. I noticed that when you've grown, the
sales team has been more on the private sector focus.
Is that strategy working for you? It's definitely working in the US and
elsewhere. And then elsewhere where we're at the
beginning, look, we we didn't have salespeople until a couple of years ago.
So a lot of this is figuring out how we can do this.
I think we've kind of gotten pretty close to cracking the nut in the US and
then we have to expand it outside the US.
You like working with the government, the US government?
Well, I'm proud to work with the U.S. government, but you don't sell to China
or operate in China or if Chinese companies.
Is that sort of corporate patriotism or is there no demand for you?
Well, we for 20 years when it was popular and investors, those crucial to
work in China, we've said the same thing.
There's no distinction between public and private entities there.
Our products are actually also weapons of war.
And we're not going to sell them directly or indirectly to adversaries.
This made us enormously controversial in Silicon Valley.
And still makes this controversy in Silicon Valley and quite frankly, it's
one of the most decisions I'm most proud of.
We are a company whose most important purpose is to power the West to to even
higher heights in the commercial and in the government context.
And we've done this in the anti terror, in the kinds of pandemic, in the context
of war, in the context of data protection.
And you really can't do that if you're going to also transfer those
technologies indirectly or directly to your adversaries.
And we've never done it. You were talking onstage about how
you're a public company and you have a responsibility to your shareholders.
And at times in the last 20 years, shareholders have complained to you, why
are you doing this? It's loss making.
Why are you not doing that? And we talked about your strategy.
Investors haven't really changed. If you purely go off the share price
performance, what is your message to them today about the deals being outside
that? So we are a company that has a primary
mission. The primary mission is to make the West
stronger and better. That mission has secondarily led to 61
percent CAC over 20 years, 35 percent favor in the U.S.
government and the share prices. The thing is, I think a little bit of a
red herring because all tech is down. I don't think our shares have been any
more punished than anyone else's. So if you are an investor and you want
to go long on transforming our country and our allies, you have a home,
Palantir. I have never, ever, ever wavered from
that statement. And if you don't want to invest in us
because of that, you should. And if you're investing us thinking, I'm
going to change, you're making a mistake.
You we lay our cards on the table. There is nothing besides transparency
here. We have met.
When we went to the Ukraine, I didn't ask them, can you pay us?
I did. Here's the product.
If I had gone to stand and eventually be like, well, you can't do it until they
pay you. When we started off in America on the
pandemic and in Britain, we said, look, we can help.
This is the primary mission of our company.
And I think where I'm very aligned with investors is they're hearing the truth.
I'm not saying, hey, we might change this policy.
We might do crazy deals in adversarial countries.
We might put the other nations ahead of our point now.
And by the way, I tell the most important investors that every day
Palestinians and I tell our retail investors whom I revere, that every time
I go on TV and know what you're buying when you buy a passenger in the spirit
of transparency, you yourself have sold stock regularly since the lockup expiry
in 2021. In the fall, in the fairness of full
transparency in the last year or so, I've only sold for tax reasons.
There's been no financial sales. I'm grateful to be here with you in Palo
Alto. I'm surprised to be here with you in
Palo Alto. You've talked about mono culture in
Silicon Valley. You moved the company to Colorado and
you've not come back often in the last three years because Silicon Valley is
obviously failed in its mission to produce technology that's useful and
useful for the world. It makes it a better place.
And we were, I think, the first reasonably large company to leave.
And now I'm very happy to come back and say, look, you know, on occasion, you
know, our position is a position we're proud of and be surrounded again by
people who disagree with me. There are many folks, engineers.
I think there's a ways you've used that lost their jobs recently at Southern
tech giants. I know that you were looking at growth.
Are you open to hiring those engineers? Do not join Palantir if you are not
willing to support the US military, its allies.
You can have, by the way, any political opinion you want, as long as that's not
a question for you. If it is a question for you, do not.
Here is not your home. I would ask you about the long time
because you're very involved in this company onstage or explaining the role
that you take leading engineering as well.
You have this class or share structure class along with Peter Teal, longtime.
Do you expect to stay as the CEO or a founding CEO?
What is your kind of succession plan? Have you heard rumors?
No, I'm just curious. I never get to talk to.
So I'm trying to do something. Look, I'm very happy what I'm doing and
what I'm doing. I think I'm sitting on one of the most
important levers for good in the world, and I don't plan to leave that position.
What's the long term plan for talent here?
Talk to me about the next 10 years, because he will on when the government.
Our governments are spending less than 1 percent on things that scare Russia and
China. I want that to change to like 5 percent
and balance here, while obviously a large portion of that and none the
commercial side making sure an industry that's anemic winds something we're
passionate about. So we're going to grow and build and
build. You know, over 20 years we've built for
arguably five of the most important software products in the world over the
next 20 years. We'll build four or five of the most
significant software products in the world.
We're going to grow our presence all over.
We're going to stay small and nimble, yes, and we are hiring, but we're not
like a body shop. We're just going to continue to keep our
culture vibrant. Build on our culture, build our
placements and show the world that, you know, the West is strong.
