Palantir is priced like the second coming of Google, but the numbers tell a very different story.

Palantir isn’t valued on fundamentals. It’s running on hype, government contracts, and dreams. When the market wakes up, reality will hit hard.

Palantir is 85% of the market cap of Salesforce.

In the past twelve months:

Salesforce did $11.87b in free cash flow
Palantir did $1.1b in free cash flow

Salesforce did $37b in revenue
Palantir did $2.8b in revenue

Palantir would need to grow revenue at 67% per year, for…

— Joseph Carlson (@joecarlsonshow) February 11, 2025