Chris Bryant, Columnist

Palantir Failed to Spot Pattern in SPAC Debacle

The data-analysis company aimed to use deals with startups to jumpstart its non-government business. There were some misfires.

November 29, 2022 at 5:00 AM UTC

By Chris Bryant

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

Alex Karp, chief executive officer of Palantir Technologies Inc.
Photographer: Bloomberg/Bloomberg

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Palantir Technologies Inc.’s raison d’etre is identifying patterns hidden within mountains of data. Yet somehow it didn’t spot the risks in its own investment strategy or the danger that startups might not be able to pay their bills.

Palantir’s losses from a portfolio of businesses that went public via special purpose acquisition companies, show the dangers of correlated stock investments and an unsustainable growth strategy.