Palantir losing key clients and employees
“Over the last 13 months, at least three top-tier corporate clients have walked away, including Coca-Cola, American Express, and Nasdaq, according to internal documents. Palantir mines data to help companies make more money, but clients have balked at its high prices that can exceed $1 million per month, expressed doubts that its software can produce valuable insights over time, and even experienced difficult working relationships with Palantir’s young engineers. Palantir insiders have bemoaned the ‘low-vision’ clients who decide to take their business elsewhere.
More than 100 Palantir employees, including several prominent managers, have left the company this year through April 15, a confidential log shows. At that rate, the company is on track to turn over about 20% of its staff in 2016, almost double the average rate of the three previous years, according to internal figures.”