Soros Regrets Investing in Palantir Tech, Says Would Not Do it Again

US

Palantir Technologies is a US software company primarily involved in big data analysis. Founded by Paypal co-founder Peter Thiel, Palantir hires itself out to various government structures in several different countries.

American investor George Soros released a statement on Wednesday, expressing regret over his investment in data-analytics company Palantir Technologies, slamming its “business practices”.

The statement outlined that SFM “would not make an investment in Palantir today”.

The SFM investment in Palantir accounted for approximately 1% of the company’s Class A shares, and, according to the statement, was made before Palantir became a publicly-traded company in 2012. The investment was made by a portfolio manager who is no longer part SFM.

What’s the Deal With Palantir?

Palantir was founded by PayPal’s Peter Thiel, an outspoken supporter of Trump’s 2016 campaign, and the firm has long been under fire for its work with the US government among other entities, particularly counter-terrorism efforts within US Immigration and Customs Enforcement agency.

Palantir’s critics mainly focus on the software the company develops, maintains and sells to facilitate the deportation of immigrants, while also raising concerns about the widespread collection of data on private citizens.

In particular, US Representative Alexandria Ocazio-Cortez called for an investigation to be launched regarding the sale of Palantir products to foreign governments, notably…

Continue Reading This Article At Sputnik News

LEAVE A REPLY

Please enter your comment!
Please enter your name here