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Palantir: Hunting Season is Open
Hunting season for talent is open.
Scared of a recession, many companies are cutting costs dramatically and laying off massively.
Palantir is doing exactly the opposite and hiring massively.
This short article is an update on the previous article (PLTR Against the Tide).
Palantir reached, according to LinkedIn numbers, 3.779 employees compared with 2.920 as of December 2021. That’s almost a 30% increase!
From the same snapshot in July we can see that the speed of hiring is accelerating. From July, Palantir hired ~200 people, +5% of employees in just two months.
Interestingly, Palantir has a Median tenure of 2.4-2.8 years. This puts Palantir among the companies with the best tenure among tech companies.
As we mentioned before, the new hiring focuses mainly on:
From the chart below we can see Palantir keeps hiring a multitude of Senior profiles.
New high-standing entries include:
Markus Löffler, former Allianz CTO;
Blaise Roulet, former VP at Salesforce ( CRM 0.00%↑ ) ;
David Spirk, former Chief Data Officer at the Department of Defense.
How do you attract such high-standing employees?
Strong business opportunities: US Commercial is still tiny compared with the potential (PLTR: Sell Sell Sell);
Strong financial structure: $2.4bn cash and ~25/30% FCF Margin.
A glance at the SaaS big players
Salesforce ( CRM 0.00%↑ ) is also hiring, but far less aggressively.
ServiceNow ( NOW 0.00%↑ ) hasn’t slowed down its hiring.
In addition to direct hunting, Palantir is getting more and more involved with sector events. This would help get new clients and hire talents.
Few examples, (thank you @lordgri52420459):
The opportunity in the turmoil
In the recent interview with the legendary investor Stanley Druckenmiller, Karp expressed how hard it was for Palantir to hire new talents when the sector was in clear euphoria:
“Bad times will be an enormous advantage for Palantir. In euphoric times you have competition for talents. A lot of companies are going to fail but those prevented people from coming here […] and enjoying life while failing”. - Alex Karp, Palantir CEO
Now that the enthusiasm in the SaaS space cooled, therefore the hunt for talents should become easier for Palantir.
“Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.” - Nassim Taleb, Antifragile author
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View expresses are my own. Do not represent Financial Advice.
I own (many) PLTR 0.00%↑ stocks.