Palantir co-founder, CEO Alexander Karp gets $1.1bn bumper payday in IPO year
(2021/04/30)
- Reference: 1619808067
- News link: https://www.theregister.co.uk/2021/04/30/palantir_payday_ipo/
- Source link:
CEO and co-founder of controversial AI and data analytics firm Palantir Alexander Karp raked in a total of $1.10bn following the company’s September IPO, filings have revealed.
A [1]regulatory listing showed he got $797.9m in options and $296.4m in stock on top of his regular measly salary of $1.1m in 2020. The total Karp received was up from $12.1m in 2019.
[2]
After the firm gained two-and-a-half times its debut price on the IPO, co-founder and president Steven Cohen was paid $192m, compared with $16.1m in 2019.
The company has attracted some criticism because of its background in the analysis of data at US defence agencies and the CIA, although it also claims Rio Tinto and IBM among its private sector clients.
NHS awards £23m two-year deal to controversial Peter Thiel AI firm Palantir [3]READ MORE
But, keen readers may ask, what’s wrong with being richly rewarded for a Trump-linked [4]startup that was working with ICE during the time it was separating child immigrants and refugees from their parents?
In a market seemingly crowded with AI, analytics and data management firms, Palantir remains competitive by seemingly breezing into government contract without outside competition. Take the UK for example.
[5]
Here, the NHS has [6]signed a £23m two-year contract with Palantir without scrutiny or outside competition.
It took the [7]threat of a judicial review to ensure that the government's contract with the US AI firm would not be extended beyond COVID work without a public consultation.
The firm also [8]acquired a role in mitigating and managing potential disruption at the border during the UK’s official departure from the EU.
[9]
Palantir largely carries out information analysis and processing work for the defence and intelligence communities, often creating bespoke solutions such as digital-profiling tools for organisations like the CIA and ICE.
The firm was founded by [10]prominent Trump financier and [11]PayPal investor Peter Thiel. ®
Get our [12]Tech Resources
[1] https://d18rn0p25nwr6d.cloudfront.net/CIK-0001321655/540955f8-6f8d-4efd-87bd-c9c274fa683b.pdf
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[4] https://www.theregister.com/2020/08/26/palantir_s_1_ipo_filing_ice/
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[6] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[7] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[8] https://www.theregister.com/2020/09/17/uk_contracts_palantir_border/
[9] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[10] https://www.theregister.com/2016/11/22/thiel_asks_silicon_valley_to_help_trump/
[11] https://www.theregister.com/2010/02/18/paypal_on_facebook/
[12] https://whitepapers.theregister.com/
A [1]regulatory listing showed he got $797.9m in options and $296.4m in stock on top of his regular measly salary of $1.1m in 2020. The total Karp received was up from $12.1m in 2019.
[2]
After the firm gained two-and-a-half times its debut price on the IPO, co-founder and president Steven Cohen was paid $192m, compared with $16.1m in 2019.
The company has attracted some criticism because of its background in the analysis of data at US defence agencies and the CIA, although it also claims Rio Tinto and IBM among its private sector clients.
NHS awards £23m two-year deal to controversial Peter Thiel AI firm Palantir [3]READ MORE
But, keen readers may ask, what’s wrong with being richly rewarded for a Trump-linked [4]startup that was working with ICE during the time it was separating child immigrants and refugees from their parents?
In a market seemingly crowded with AI, analytics and data management firms, Palantir remains competitive by seemingly breezing into government contract without outside competition. Take the UK for example.
[5]
Here, the NHS has [6]signed a £23m two-year contract with Palantir without scrutiny or outside competition.
It took the [7]threat of a judicial review to ensure that the government's contract with the US AI firm would not be extended beyond COVID work without a public consultation.
The firm also [8]acquired a role in mitigating and managing potential disruption at the border during the UK’s official departure from the EU.
[9]
Palantir largely carries out information analysis and processing work for the defence and intelligence communities, often creating bespoke solutions such as digital-profiling tools for organisations like the CIA and ICE.
The firm was founded by [10]prominent Trump financier and [11]PayPal investor Peter Thiel. ®
Get our [12]Tech Resources
[1] https://d18rn0p25nwr6d.cloudfront.net/CIK-0001321655/540955f8-6f8d-4efd-87bd-c9c274fa683b.pdf
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[4] https://www.theregister.com/2020/08/26/palantir_s_1_ipo_filing_ice/
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[6] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[7] https://www.theregister.com/2020/12/21/nhs_awards_23m_twoyear_deal/
[8] https://www.theregister.com/2020/09/17/uk_contracts_palantir_border/
[9] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44YIx9@V5lBlgwiN-XUKVRgAAAAEg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[10] https://www.theregister.com/2016/11/22/thiel_asks_silicon_valley_to_help_trump/
[11] https://www.theregister.com/2010/02/18/paypal_on_facebook/
[12] https://whitepapers.theregister.com/
Re: AI
Chris G
AI doesn't worry me nearly as much as many of those who wish to employ half baked possibly not fit for purpose AIs for almost every problem or function they don't already have a solution for, a fair percentage, even if they do have a working solution still want to replace it with an AI solution because AI....
You are not alone in not knowing how they work, few people employing 'AI' have much of an idea of what an AI is and whether or not what they think is an AI actually is, mostly the accurate part of the description is Artificial, the Intelligence is frequently questionable.
AI
AI seems to be flavour of the month. There is the article on 'Big Tech' sponsoring research into AI ethics, and the 'AI adventure' game thing creating sexually NSFW responses for those mentioning children or even "4 melons". (Both current el Reg articles.)
I find the problem I have with AI is that when it comes to individual AI systems I have no idea how they work, and frankly, if they are intelligent enough (such as the AI machine that taught itself 'Go' and beat the human world champion) neither do the creators / programmers. Which would scare me a bit if I wasn't already maxed out being scared of Covid, Brexit, global warming, people stealing my pension fund and the possibility of yet another water leak in my flat that means I have to spend even more* on redecorating the downstairs flat's kitchen. (It is ok, I don't live in Downing Street, I am nothing to do with that 'redecoration'.)
Are other el Reg readers worried about AI and whether anyone actually understands it well enough to know what it is doing?
*I've just been billed for £300 (invoice 'INV0001' not a vat receipt as the 'builder' does not qualify for vat) for 'work including materials'.