Palantir's 2020 listing letter from Alex Karp

About this letter

Alex Karp, Palantir's co-founder and chief executive, wrote this letter for the registration statement on form S-1 that Palantir Technologies filed with the SEC on 25 August 2020. The filing registered the resale of shares by existing stockholders through the New York Stock Exchange; unlike an initial public offering, that resale was not underwritten by any investment bank. The letter is signed by Karp as chief executive officer and co-founder.

It is written in five short numbered sections. Karp argues that the welfare and security of institutions depend on effective software, and that the enterprise software industry's focus on custom tools and applications is misplaced. He presents the company's culture as a precondition for building that software, sets out the ethical questions its work raises, and closes on the link between technology and the survival of democratic government.

What to notice

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   Karp contrasts Palantir with consumer internet companies: it has repeatedly turned down opportunities to sell, collect or mine data, while for many consumer firms people's behaviours and browsing habits are the product for sale.

“We have chosen sides, and we know that our partners value our commitment.”