Economist Robert Reich issued a stark warning on Palantir Technologies Inc. (NASDAQ:PLTR), calling the Silicon Valley giant a growing threat to civil liberties as it continues to expand within the federal government.
The ‘Most Dangerous Corporation’ In America
On Tuesday, Reich, who served as the Secretary of Labor under President Bill Clinton, called Palantir “the most dangerous corporation in America,” warning that its tools could enable unprecedented levels of surveillance “that may put your most basic freedoms at risk,” on his YouTube channel.
See Also: Palantir Technologies (PLTR) Stock Price Prediction: 2025, 2026, 2030
He tied the company’s name, borrowed from the Lord of the Rings trilogy, to its real-world function, saying that in the books, a Palantir is a “seeing stone” that can be used to spy on people and distort the truth.
He argued this parallel was deliberate, since the company “bears a striking similarity” selling “AI-based data platforms” to governments, militaries and law enforcement agencies capable of analyzing “massive amounts of your personal data.”
Risks of Political Targeting
Reich warned that “billions of your tax dollars are going to Palantir” and said its work could eventually be used against the same taxpayers.
Quoting investor Paul Graham, Reich said that the company is essentially “building the infrastructure of the police state,” while warning that all this data “can be used by a tyrant to intimidate or silence opposition.”
“We've already seen Trump target people or organizations he considers enemies,” Reich said, while warning of a future where a President might choose to “punish or deny services to individual Americans based on their political affiliations.”
Reich also raised concerns about Palantir co-founder Peter Thiel, a prominent ally of President Donald Trump, saying that Thiel “has made no secret of his disdain for democracy.”
Palantir Denies Spying On Americans
Palantir has repeatedly denied spying on American citizens in recent months, after being compared with Nazi collaborators by Democratic lawmakers.
The company has responded by saying, “Palantir is not building a master database. Palantir is neither conducting nor enabling mass surveillance of American citizens,” while emphasizing its transparent record of working for two decades in partnership with the U.S. government.
Recently, the company’s CEO, Alex Karp, denied these claims, saying, “We are the single worst technology to use to abuse civil liberties, which is, by the way, the reason why we could never get the NSA or the FBI to actually buy our product.”
Palantir did not immediately respond to Benzinga’s request for a comment on this matter. This story will be updated as soon as we receive a response.
Shares of Palantir were up 1.91% on Tuesday, closing at $170.69, and are up 0.64% overnight. The stock scores high on Momentum and Growth in Benzinga’s Edge Stock Rankings, with a favorable price trend in the long run. Click here for deeper insights into the stock, its peers and competitors.
Read More:
Photo Courtesy: PJ McDonnell on Shutterstock.com
