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Palantir Technologies Inc (NYSE:PLTR) CEO Alex Karp linked the rise of former President Donald Trump to the actions of Silicon Valley.
What Happened: Karp, in a wide-ranging interview with The New York Times, suggested that the rise of Trump was a direct result of the “excesses” of Silicon Valley.
He specifically pointed to the detachment of tech moguls from the average American and their support for policies that exempt them from bearing the costs.
He said, “I don’t believe you would have a Trump phenomenon without the excesses of Silicon Valley.”
Karp, who initially supported President Joe Biden before switching to Vice President Kamala Harris, also criticized the tech industry’s lack of accountability and the divisive content on their platforms.
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Palantir, a company founded by Karp and Peter Thiel in 2003, provides data-mining and analytics software to government and law enforcement agencies, including the Department of Defense, the FBI, and the CIA. The company also supplies artificial intelligence models to military forces, including those of Israel and Ukraine.
Why It Matters: The timing of Karp’s comments is significant as Palantir has been in the spotlight recently. The company’s stock surged after reporting strong second-quarter earnings and announcing a new partnership with Microsoft Corp. This collaboration aims to enhance data analytics and AI services for the U.S. Defense and Intelligence Community.
Additionally, the broader context of Silicon Valley’s political influence is underscored by Mark Cuban‘s recent remarks. Cuban criticized the tech industry’s desire to position Trump as a CEO-like figure for the country.
The political landscape is further complicated by venture capitalist David Sacks, who hosted a high-profile fundraiser for Trump. Sacks, who has supported various political figures, believes the recent legal challenges against Trump will only bolster his support.
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Palantir CEO Alex Karp. Photo by WEF on Flickr
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
Posted In: PLTR
