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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 suggested in an extensive interview with The New York Times that Trump’s rise was a direct result of Silicon Valley’s “excesses.”
He specifically pointed to the distance between tech giants and 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.”
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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.
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 provides artificial intelligence models to armed forces, including those of Israel and Ukraine.
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Why it’s important: The timing of Karp’s comments is telling, as Palantir has been in the spotlight lately. The company’s shares rose after reporting strong second-quarter earnings and announcing a new partnership with Microsoft Corp. This collaboration aims to improve data analytics and AI services for the U.S. defense and intelligence community.
Furthermore, the broader context of Silicon Valley’s political influence is underscored by Mark Cuban’s recent comments. Cuban criticized the tech industry’s desire to position Trump as a CEO-like figure for the country.
Further complicating the political landscape is venture capitalist David Sacks, who organized a high-profile fundraiser for Trump. Sacks, who has endorsed several political figures, believes the recent legal challenges against Trump will only strengthen his support.
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This article Trump’s rise is linked to Silicon Valley’s ‘excesses’, says Palantir CEO Alex Karp: ‘I don’t believe you would have a Trump phenomenon without…’ originally appeared on Benzinga.com