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jerryking : palantir   8

Wealth Managers Enlist Spy Tools to Map Portfolios - NYTimes.com
AUG. 3, 2014 | NYT | QUENTIN HARDY.

Karen White, Addepar’s president and chief operating officer, says a typical customer has investments at five to 15 banks, stockbrokers or other investment custodians.

Addepar charges based on how much data it is reviewing. Ms. White said Addepar’s service typically started at $50,000, but can go well over $1 million, depending on the money and investment variables involved.

And in much the way Palantir seeks to find common espionage themes, like social connections and bomb-making techniques, among its data sources,[jk: traffic_analysis] Mr. Lonsdale has sought to reduce financial information to a dozen discrete parts, like price changes and what percentage of something a person holds.

As a computer system learns the behavior of a certain asset, it begins to build a database of probable relationships, like what a bond market crisis might mean for European equities. “A lot of computer science, machine learning, can be applied to that,” Mr. Lonsdale said. “There are lessons from Palantir about how to do this.”
wealth_management  software  valuations  Quentin_Hardy  Addepar  Palantir  money_management  social_connectivity  machine_learning  correlations  portfolio_management  investment_custodians  tools 
august 2014 by jerryking
Unlocking Secrets, if Not Its Own Value
MAY 31, 2014 | NYTimes.com |By QUENTIN HARDY.

Founded in 2004, in part with $2 million from the CIA’s venture capital arm, Palantir makes software that has illuminated terror networks and figured out safe driving routes through a war-torn Baghdad. It has also tracked car thieves, helped in disaster recovery and traced salmonella outbreaks. United States attorneys deployed its technology against the hedge fund SAC Capital, which was also an early investor in the company....Palantir’s software has been used at JPMorgan Chase to spot cyberfraud and to sell foreclosed homes; at Bridgewater Associates to help figure out investments for its $157 billion under management, and at Hershey to increase chocolate profits. The technology is complex, but the premise is simple: The software consumes huge amounts of data — from local rainfall totals to bank transactions — mashes it together and makes conclusions based on those unlikely combinations. Where is a terrorist attack likely to occur? What is a bad financial bet?...As Palantir expands into offering services to the private sector — now perhaps 70 percent of its business — Mr. Karp’s worry is losing control of what happens with its software....“The thing Alex worries about the most is they have a culture that’s hard to sustain as it grows,” said Mr. Carville, the Democratic consultant. “I take walks around Stanford with him, and he talks about it: ‘If we become something besides Palantir, what are we?’ ”...Palantir’s founders started with an idea from PayPal. At one point, PayPal was losing the equivalent of 150 percent of its revenue to stolen credit card numbers. It figured out how computers could spot activity — like a flurry of payments to a brand new account — at a global scale. ...“The idea was to pick one bank, and the rest would follow,” Mr. Ovitz said. JPMorgan was the first. Much as Palantir figured out navigating Baghdad by analyzing recent roadside attacks, satellite images and moon phases, it derived home-sale prices by looking at school enrollments, employment trends and retail sales. Data that JPMorgan thought would take two years to integrate was put into action in eight days.

JPMorgan still uses Palantir for cybersecurity, fraud detection and other work, loading half a terabyte of data onto a Palantir system each day, according to a Palantir video. ...Government clients also struggle with a data explosion. “Everything becomes more difficult, the more crime becomes global, the more state actors are involved, the more trades there are around the globe,” said Preet Bharara, United States attorney for the Southern District of New York. “It’s malpractice to have records and not search them.” He has used Palantir for several cases, including the SAC investigation....Palantir is now Palo Alto’s biggest tenant after Stanford, occupying about 250,000 square feet in downtown buildings, which hold many of Palantir’s 1,500 employees. Contracts around the world have surged as everyone’s data increases in size and diversity.
Palantir  Silicon_Valley  CIA  security_&_intelligence  software  Michael_Ovitz  organizational_culture  massive_data_sets  Peter_Thiel  data  information_overload  cyber_security  fraud_detection  platforms  actionable_information  JPMorgan_Chase 
june 2014 by jerryking
Invest like a legend: Peter Thiel
Jan. 30 2014 | The Globe and Mail | Alec Scott.Special to The Globe and Mail.

Is tech investing different from other sorts of investing?

It’s incredibly hard to get people to adopt new tech solutions, and you only get adoption of something if it’s 10 times as good as the next best thing. Amazon had 10 times as many books. PayPal was at least 10 times as fast as cashing a cheque....How do your years of competitive chess-playing help you invest?

Chess champion José Raúl Capablanca said, “In order to improve your game, you must study the endgame before everything else.” Successful businesses have a very long arc. In 2001, we concluded that three-quarters of PayPal’s value would come from 2011 and beyond. The same thing applies to all the big tech companies currently—LinkedIn, Facebook, Twitter. Most of their value comes from the 2020s, 2030s and beyond. And so one of the critical questions is, what does the endgame look like, not how they will do in the next month.
Peter_Thiel  endgame  chess  Palantir  start_ups  long-term  market_risk  strategic_thinking  customer_adoption  personal_finance  orders-of-magnitude  Big_Tech  10x 
february 2014 by jerryking
Lunch with the FT: Peter Thiel - FT.com
December 20, 2013 4:06 pm
Lunch with the FT: Peter Thiel

By Richard Waters

Venture capital, where success depends on picking winners in the next hot tech markets and sticking with them, seems a long way from riding booms and busts as a hedge fund manager. In Thiel’s world, however, all things are connected, as he stitches ideas together into a grand unifying theory of our times.

The pieces fit together something like this. The historically anomalous bubbles of recent years – Japan’s stock market boom of the 1980s, the dotcom mania of the 1990s, the housing finance frenzy of the past decade and, now, the government bubble – all resulted from the fact that people retained outsized expectations for the future, even as reality came up short.
"Twitter may not be enough to take civilisation to the next level"

The reason for this expectation gap, Thiel argues, is that technological progress came to a halt at the end of the 1960s. As the website of Founders Fund declares: “We wanted flying cars, instead we got 140 characters.” Thiel is still making it up to Twitter for this jab: it’s a perfectly fine company, he says, and may even be worth the high valuation placed on it by Wall Street, though he adds with deadpan irony that “it may not be enough to take civilisation to the next level”
anomalies  boom-to-bust  bubbles  dotcom  expectations  Founders_Fund  libertarians  Palantir  Peter_Thiel  Richard_Waters  Silicon_Valley  Twitter  vc  venture_capital 
december 2013 by jerryking
Palantir Reloads for the Corporation - NYTimes.com
December 5, 2013, 10:00 am Comment
Palantir Reloads for the Corporation
By QUENTIN HARDY

Palantir Technologies is a big data software company whose roots in government security mask a growing corporate presence. It is also getting a larger war chest to go with that growth....The company’s initial customers included several United States defense and intelligence agencies. But today, more than 60 percent of its revenue is from commercial sources, according to the Palantir executive, who spoke on the condition on anonymity.

While most big data companies create databases that gather large and diverse information sources, then apply pattern-matching software to see if something interesting pops up, Palantir’s technology tries to encode a human element. It has worked on augmenting the way humans in a given field parse information by studying specialists in such areas as fraud spotting, or doctors who isolate outbreaks of food poisoning. The software then augments those human pattern-finding skills.

While this has proved effective for finding insurgent bomb makers and missing children, it also seems to work in finance, health care and other industries.
Palantir  data  data_mining  artificial_intelligence  large_companies  massive_data_sets  security_&_intelligence  pattern_recognition  information_sources 
december 2013 by jerryking
The value is in the details
November 30, 2012 | FT.com | By Ravi Mattu.

Troy Carter is the Founder and CEO, Atom Factory. He's also
Lady Gaga's manager used the web to help build her career and is turning his sights to big data.

One of those friends was Joe Lonsdale, co-founder of the Palo Alto-based data management company Palantir. “He said, ‘Send me all the data you have.’ So, we sent him everything and he said it was the worst data he had ever seen in his life.” The problem wasn’t the amount of data – they had lots of it, from Ticketmaster, Lady­gaga.com and merchandise sales – but the quality. Existing social media platforms weren’t much better. “When you deal with Facebook, the information you get is geographical – what city people are logging in from, what time of day – but you don’t get the behavioural information to help you build a better experience.”
massive_data_sets  music_industry  Lady_Gaga  data_driven  Facebook  African-Americans  behavioural_data  entrepreneur  data_quality  haystacks  data_management  customer_experience  detail_oriented  Palantir 
february 2013 by jerryking
Big data, cows and cadastres
Jul 5, 2012 | KMWorld Magazine July/August 2012, [Vol 21, Issue 7]| by Stephen E. Arnold.

The hero of the story is a bull named Badger-Bluff Fanny Freddie. Dairy cattle sired by him yield more milk. Genetic information processed by sophisticated numerical recipes yield more efficiency. With Badger-Bluff Fanny Freddie, the dairy industry has an opportunity to convert big data into more milk per head. Therefore, the knowledge generated by big data analytics methods translates directly to money.

The article explained: "Dairy breeding is perfect for quantitative analysis. Pedigree records have been assiduously kept; relatively easy artificial insemination has helped centralize genetic information in a small number of key bulls since the 1960s; there are a relatively small and easily measurable number of traits—milk production, fat in the milk, protein in the milk, longevity, udder quality—that breeders want to optimize; each cow works for three or four years, which means that farmers invest thousands of dollars into each animal, so it's worth it to get the best semen money can buy. The economics push breeders to use the genetics."...The IBM approach is to understand the prospect or customer's problem, develop a plan of action and then assemble the solution from the components in IBM's toolbox....The only problem is that the user-friendly system assumes that the marketing manager understands sample size, the strengths and weaknesses of specific statistical methods and the output itself. Eye-catching graphics is not the same as statistically valid data.
The challenges

The problem in those two examples boils down to people. There is a shortage of staff with big data and analytics skills. The problem is not local; it is global. Data and the need to exploit it are rising faster than the talent pool required to use the sophisticated, increasingly user-friendly systems. Kolmogorov worked with a pen and paper. He could tap into today's powerful system because he had the mathematical expertise required to tame big data. Using a mouse is the trivial part of figuring out cow genetics.
dairy  massive_data_sets  data_scientists  IBM  Google  Palantir  Pentaho  Jaspersoft  talent_pools 
december 2012 by jerryking
Palantir, the War on Terror's Secret Weapon - BusinessWeek
November 22, 2011, 3:56 PM EST
Palantir, the War on Terror's Secret Weapon
A Silicon Valley startup that collates threats has quietly become indispensable to the U.S. intelligence community

By Ashlee Vance and Brad Stone
security_&_intelligence  Silicon_Valley  Peter_Thiel  threats  Palantir 
november 2011 by jerryking

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