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Palantir CEO: California will benefit from people leaving
$Palantir (PLTR.US)$ Palantir Technologies CEO Alex Karp said Tuesday that the recent trend of major companies leaving California will ultimately help the state, arguing that the competition will drive innovation.
The chief executive at Palantir also defended the company's generous stock compensation program, which has received criticism for diluting shareholders.
Karp took a long view on the compensation question, contending that attracting top talent will lead to better products, which, in turn, will support long-term stock growth.
"We've hired the best and most interesting and eclectic people in the world. ... They are very fairly compensated and we will continue to develop these products and continue to comp people," he said.
On California, Karp, who moved PLTR's headquarters from Silicon Valley to Denver, argued that California "has a lot of advantages for building tech" but will benefit from a more diverse corporate climate.
"Long-term, this will help California. Short-term, it's a huge problem," he said of the recent exodus from the state.
PLTR is one of many high-profile companies that have left California for other states recently, including Elon Musk's Tesla, which announced a move to Austin, Texas.
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John Dow : let me guess..they move to republican states… but they keep voting for those that made them flee in the first place.
FooTY : Ok
woodfill John Dow : They did the same thing in Paradise Valley. Move here and then plant water extensive gardens to feel like "home" and now we have water rationing. Thanks!
pennypincher : bet it turns out better for the companies then it does for California
Johnsh John Dow : Colorado is not exactly a Republican state, and Arizona is turning purple. The question is whether Texas starts turning...
ChclABkTHD Johnsh : We sure aren't a red state here in CO. The only red pockets are some very poor, stuck in the 60s rural communities in the South bordering OK - basically like most parts in the country look like.
fWY3TQgFdr John Dow : Destroy California with immigration and mail in voting. Implement the same policies in other states... Blame the disenfranchised refugees.
fPyTvyOaaW : Of course he defends his stock based compensation he’s the only one making money lol not shareholders
KHVgqUvpZS fPyTvyOaaW : Not really... He could sell higher....
rARVOf0f5Z KHVgqUvpZS : Ya at shareholders expense lol what google how much he makes with stock based compensation and how much fcf the company generates subtracting stock based compensation. Then come back to me and tell me what it says about someone’s integrity that pays themself a kings ransom and makes shareholders not a penny of fcf.
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