Is This Why Palantir Doesn't Have Any Competition?
Of everything in Palantir Technologies' (NASDAQ: PLTR) annual report, this line at the top of its competition section may be the most telling: "We are fundamentally competing with the internal software development efforts of our potential customers."
In other words, when Palantir goes into a sales meeting, it's not competing against big tech companies or other software-as-a-service platforms, but in-house efforts to build something similar to its own data analytics platform. The company goes on to say, "Organizations frequently attempt to build their own data platforms before turning to buy ours."
On its earnings calls, management regularly tells stories of failures in the government to develop proprietary software, leading to agencies embracing Palantir. Its platform has become a favorite in the Trump administration, used by the Department of Government Efficiency (DOGE), Immigration and Customs Enforcement (ICE), and other agencies.
Source Fool.com
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