Palantir’s stock slumped more than 9% on Tuesday, falling for a fifth straight day to continue its pullback from all-time highs.
The artificial intelligence software provider’s stock has slid more than 15% over the last five trading sessions, after a stellar earnings report earlier this month propelled shares to all-time highs. The report was Palantir’s first-ever $1 billion revenue quarter.
It’s a start, I guess. Keep it up and tank that shit to hell where it belongs.
Could the bubble be finally bursting?
Palantir is a mass surveillance company~~, not an AI company like the article suggests. They are those black cameras and solar panels you see popping up on every inch of road across the country. They track your every movement, logging license plates and car descriptions. Then they make it available to any highschool bully with a badge.~~
EDIT: Whoops, I confused them with Flock. Palantir is still a mass surveillance company that does shady stuff for the government, but they aren’t the car cameras.
You may be thinking of Flock.
Whoops, thanks for the correction! Fuck both of them.
Definitely Flock. They use Amazon AWS as their backing-store too. No direct connection to Palantir. Although I’m sure they’ll start making out sooner than later.
God I hope so, Thiel seems to be shifting all his money to crypto (of course after Palantir already secured billions in contracts for AI) but public opinion seems to be finally acknowledging how over hyped it’s been.
I just always question when the narratives being pushed suddenly changes so abruptly without much pushback. It just happens so often and always seems to follow the same predictable Thiel pattern. All we’ve heard for the past 8 months is that AI is this inevitable future, and we have to stop fighting progress. Now suddenly it feels like “ok we’ve safely moved our money somewhere else, so it’s ok to go back to acknowledging the reality of AI now.”
As always, Thiel has his very blameworthy public scapegoat set up (this time it’s Alex Karp). Honestly makes me wonder out of curiosity, what would happen if anyone really put effort into getting a narrative going critiquing known issues with cryptocurrency.
If I had the knowledge, I would love to start an ETF to short publicly traded companies run by assholes and douchebags. Similar to inverse REITs for real estate. It would probably lose money spectacularly, I admit, but I would still run it out of pure spite.
The PLTR bubble, maybe. You got plenty of big tech with decent PEs that won’t suffer dramatic sell offs.