1
00:00:00,080 --> 00:00:03,757
I'm trying to understand just if you
look at sort of the growth trajectory,

2
00:00:03,840 --> 00:00:07,437
the sales, how much of the sales frankly
I think actually even coming there's a

3
00:00:07,520 --> 00:00:11,597
huge part coming from even existing
customers and just what the scale of

4
00:00:11,680 --> 00:00:15,117
this thing ultimately looks like in
your mind. Okay, there are two parts. You

5
00:00:15,200 --> 00:00:19,517
know, of course, when I hear short
sellers attacking uh what I believe is

6
00:00:19,600 --> 00:00:22,637
clearly the most important software
company in America and therefore in the

7
00:00:22,720 --> 00:00:24,557
world in terms of our impact simply to

8
00:00:24,640 --> 00:00:27,037
make money and calling trying to call

9
00:00:27,120 --> 00:00:29,757
the AI revolution into question where we

10
00:00:29,840 --> 00:00:34,797
have these this anomalous numbers 114,
rule of 40, etc. It just is super

11
00:00:34,880 --> 00:00:38,397
triggering because these people they
could pick on any company in the world.

12
00:00:38,480 --> 00:00:41,437
They have to pick on the one that
actually helps people that actually has

13
00:00:41,520 --> 00:00:45,037
made money for the average person.
that that is actually supporting our war

14
00:00:45,120 --> 00:00:48,797
fighters. Why do they have to go after us?
And I'll tell you what though, it's

15
00:00:48,880 --> 00:00:51,997
crazy motivating because I'll tell you
why the short sellers are constantly

16
00:00:52,080 --> 00:00:55,837
getting screwed by Palanteer because
every time they short us, we just are

17
00:00:55,920 --> 00:00:57,917
like tripling down on getting the better

18
00:00:58,000 --> 00:00:59,917
numbers and part honestly to make them

19
00:01:00,000 --> 00:01:03,117
poorer. But okay, so um the the the the

20
00:01:03,200 --> 00:01:07,757
the question of like uh the actual power

21
00:01:07,840 --> 00:01:11,517
of the business and what is it worth?
I mean at the end of the day one of the

22
00:01:11,600 --> 00:01:14,877
things that is actually in the book the
the biography and that I actually think

23
00:01:14,960 --> 00:01:17,997
that you always have to ask to to the is

24
00:01:18,080 --> 00:01:21,197
the person persuasive or are they right

25
00:01:21,280 --> 00:01:25,757
and across all sorts of movements
political I mean you see this on the

26
00:01:25,840 --> 00:01:29,197
regressive part of the Democratic party
we're about to probably have a complete

27
00:01:29,280 --> 00:01:33,037
disaster I was born in New York like
but if you actually said do these things

28
00:01:33,120 --> 00:01:36,477
actually work everyone's like of course
I'm not going to vote for that but

29
00:01:36,560 --> 00:01:40,877
instead they asked does it work in theory
the theoret politicians, you have

30
00:01:40,960 --> 00:01:43,197
to ask how often have you been right?

31
00:01:43,280 --> 00:01:45,517
And Palanteer is about pragmatic

32
00:01:45,600 --> 00:01:48,397
decisions that create unfair advantages

33
00:01:48,480 --> 00:01:53,437
for America and its allies. And on that,
we've been right for almost 20 years on

34
00:01:53,520 --> 00:01:56,957
all major decisions. And I believe we'll
be right going forward. Now, you could

35
00:01:57,040 --> 00:01:59,917
argue, I don't know, like they're
constantly like, but they they thought

36
00:02:00,000 --> 00:02:03,917
Palanteer was overvalued at 10. They
thought it was overvalued at 20. I'm not

37
00:02:04,000 --> 00:02:05,517
even here saying what the valuation is.

38
00:02:05,600 --> 00:02:07,757
I'm just saying find a company in the

39
00:02:07,840 --> 00:02:10,637
world that has a rule of 114 that has US

40
00:02:10,720 --> 00:02:12,797
commercial growing at 121% that

41
00:02:12,880 --> 00:02:15,757
aggregate growth in the US is 77% that

42
00:02:15,840 --> 00:02:20,317
has throwing off free cash flow in a way
that's anonymous and that is fully

43
00:02:20,400 --> 00:02:23,917
aligned with our customers and you
figure out the value but they're in the

44
00:02:24,000 --> 00:02:26,637
business of being skeptical and being
wrong and we're in the business of

45
00:02:26,720 --> 00:02:28,797
giving an unfair advantage to American

46
00:02:28,880 --> 00:02:34,157
workers, American war fighters and
our investors. Being short is is a very

47
00:02:34,240 --> 00:02:37,117
difficult place to be because you can
lose everything, right? You can drive

48
00:02:37,200 --> 00:02:39,197
these people into the ground. Michael

49
00:02:39,280 --> 00:02:41,517
Bur put a really big bet on. It's almost

50
00:02:41,600 --> 00:02:44,317
a billion dollars. It's 912 million

51
00:02:44,400 --> 00:02:49,117
dollars. That's a big step for him
to put into that. What when you say you

52
00:02:49,200 --> 00:02:50,797
redouble your efforts, what do you do?

53
00:02:50,880 --> 00:02:53,597
What do you go back in? >> Um,
well, first of all, he's it's like

54
00:02:53,680 --> 00:02:57,357
he's actually putting a short on AI. So,
the way I read it was us and Nvidia and

55
00:02:57,440 --> 00:03:00,797
it's like >> the biggest position is you
though. I just threw all the shorts.

56
00:03:00,880 --> 00:03:03,997
>> Okay. So, and and then by the way
with the shorts is very complex. It's not

57
00:03:04,080 --> 00:03:07,517
even clear that I honestly I think what
is going on here is market manipulation.

58
00:03:07,600 --> 00:03:11,597
We delivered the best results everyone
anyone's ever seen. It's not even clear

59
00:03:11,680 --> 00:03:14,637
he's not doing this to get out of his
position. I mean these people they claim

60
00:03:14,720 --> 00:03:18,797
to be ethical, but you know like they're
they're actually shorting one of the

61
00:03:18,880 --> 00:03:22,077
great businesses of the world. And I'm
not against shorting as a matter of

62
00:03:22,160 --> 00:03:25,037
theory, but I'm just saying pick
something that is not doing a noble

63
00:03:25,120 --> 00:03:28,557
task. And you know, it's us against them.
And that's a good position for us.

64
00:03:28,640 --> 00:03:32,877
I I mean, look, when you're printing
a rule of 114, again, people who aren't

65
00:03:32,960 --> 00:03:36,877
technical, I think roughly a an
incredible score, like an Olympic grade

66
00:03:36,960 --> 00:03:41,117
score on rule of 14 is like 50. I mean,
that's roughly like if you're between 50

67
00:03:41,200 --> 00:03:45,037
and seven, you're an Olympic athlete,
a unique influential athlete. This is like

68
00:03:45,120 --> 00:03:48,877
Michael Phelps like score like Michael
Jordan. Like there are no scores like

69
00:03:48,960 --> 00:03:51,917
this there. and and 121 growth off of

70
00:03:52,000 --> 00:03:54,237
almost a 1.5 run rate in US commercial

71
00:03:54,320 --> 00:03:57,677
and a 77 77% growth in the US and an

72
00:03:57,760 --> 00:04:00,077
aggregate off of an aggregate base of of

73
00:04:00,160 --> 00:04:02,957
$4.5 billion. By the way, I predicted

74
00:04:03,040 --> 00:04:07,197
we'd get here. So, you know, it's like I

75
00:04:07,280 --> 00:04:09,917
if you want to short that, be my guest.

76
00:04:10,000 --> 00:04:13,597
You go ahead. We're just going to go do
our things. I mean, look, I'll tell you

77
00:04:13,680 --> 00:04:15,357
there's a tale of two cities in our

78
00:04:15,440 --> 00:04:18,957
society. We need experts versus retail.

79
00:04:19,040 --> 00:04:22,957
And you see it like, you know, I don't
know why these newspapers are running

80
00:04:23,040 --> 00:04:27,357
helping Mandani win. I don't know why we
can't have honest discussions about our

81
00:04:27,440 --> 00:04:31,597
future. I don't know why we have
to allow fentanyl attack. But it's almost

82
00:04:31,680 --> 00:04:35,597
always sympathy for the expert that
doesn't need it. The short seller that

83
00:04:35,680 --> 00:04:39,677
has some ridiculous reason for doing
something against I mean most of GDP

84
00:04:39,760 --> 00:04:41,517
growth in this country is because of AI.

85
00:04:41,600 --> 00:04:45,517
The real question is how do we grow that
and expose workers? What is the worker

86
00:04:45,600 --> 00:04:49,357
available GDP? That's the question
for our society. Instead of aligning on

87
00:04:49,440 --> 00:04:53,037
that, we've got these completely.
And again, if the numbers weren't there,

88
00:04:53,120 --> 00:04:56,477
great. Be my guest. But then the numbers
are there. So then you you're not it's

89
00:04:56,560 --> 00:05:00,157
not even clear he's actually shorting us.
It's it's probably just how do I get

90
00:05:00,240 --> 00:05:03,837
my position out and not look like a fool.
I don't know. But I do think this

91
00:05:03,920 --> 00:05:05,837
behavior is egregious and I'm going to

92
00:05:05,920 --> 00:05:11,520
be dancing around when it when it
when it proves it's proven wrong.