Meet Kevin on $PLTR (Nov 3, 2026)

This morning we went through the Palunteer earnings call and I'm not going to go through all of this because some of this is just for course members. But one of the things that we realized is that Karp over at Palanteer is starting to get a little tight with who he's letting onto his earnings call.

And I think this is a little sussy because I think a transition is happening.

Now I'm not here to bag on Poundier. I'm going to be clear. I've got exposure to Poundier. I like Palanteer's cash flow. Although their cash flow yield's only about, you know, 1.3ish%.

It's not that great. Apple's got about twice the cash flow yield as Palanteer.

But this is it. These are the analysts Palanteer put on their earnings call. And I want to grab Karp and shake him and go, "What are you doing? Why don't you have some people with balls on the earnings call?"

They literally use their earnings call as a soapbox for people inside of their company or memers. They literally have Dan Ies who is a bootlicking permable. Then you have Brad, this analyst that I call the rocket ship memer.

You want to know why I would call the guy a rocket ship me? Congrats on the rocket ship quarter. This was the only question he got to ask. And he goes, "Congrats on the rocket ship quarter, guys."

And then you ready for the really hard question, Alex? You said in your shareholder letter that you see Palunteer being a pioneer of genuine and viable anti-war movement. What?

This is worthless. These analysts are crap. The only analyst that actually asked a decent question was one person and it was Jill. That's it. Jill comes in and says, "Hey, you guys are basically competing directly with Anthropic."

And that's where actually things get really interesting because people might not like to hear this, especially the Palunteer folk. But there is something interesting that happened that's going on and I think I figured it out.

But Palanteer is actually income positive and Anthropic's not, right? Palanteer actually makes money. So you got to give credit where credit's due.

SAS 2.0 is being the lockin platform. This is like being the palunteer. Okay? So, you're the palunteer. You could go use your own hardware. Palanteer sits on the cloud, but you could also use your own hardware if you don't want to sell it to the cloud.

SAS 2.0 is the platform. It is like a palunteer, but Palanteer is not going to be alone here for long. They're going to have competitors that help basically use this ontological process to break down big data into digestible bits that employees at companies can actually use.

Now, a benefit that Palanteer has is they're really good with their forward deployment engineers to integrate their AI platform, essentially their sovereign AI into companies. existing customers are increasing their spending at Palanteer by like 95%.

Really impressive. Like I don't want any of this to come across as dunking on Palunteer. Like they are crushing it. Their numbers get better and better and better and better. So what?

They have shills on their earnings call. Their numbers are very good, but the writing is on the wall that competition is coming.

Fortress cash flow, you know, twice the free cash flow as Palanteer. Pretty good. Palanteer itself uh has a PEG ratio that's also somewhere around 2.1.