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> which is a database consultingware company and a JV version of Oracle in all the senses we care about

Are you sure about this? I would kick the tires on that theory a bit.

What part of it doesn't ring true to you?

Very small workforce (~3k) for a fortune 500, much higher than consulting margins. One of if not the single largest AWS customer. Only software company that is also a defense prime. Also their software is has some rough edges but is very powerful. Nobody else really offers what they do.

Oracle was started to build databases for the Central Intelligence Agency, gets ~90% of its revenue from services, is a huge GSA/DISA contractor, and earns about 16x what Palantir does. I've heard people with direct ties to Palantir describe it as "Oracle but with the Web 2.0 stack".

I don't doubt they're more efficient than Oracle; you'd kind of have to be, right?

Look at revenue per employee. Revenue growth year over year. Margin etc. then just look into any command center, 90% of screens are displaying Palantir software.

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