Joe Lonsdale, Palantir co-founder and 8VC founding partner, joins ‘Squawk Box’ to discuss the latest market trends, what to make of the market sell-off, impact of AI on companies, Big Tech and regulation, 2024 election, and more.
date 2024-08-08 14:48:02
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Palantir co-founder Joe Lonsdale: I’m for holding Big Tech accountable, not radical regulators
In a recent conversation, Palantir co-founder Joe Lonsdale shared his thoughts on the current state of the economy, tech industry, and politics. Lonsdale believes that the private sector is driving innovation and growth, with AI being a key factor in this process. He agrees with recent reports from Goldman Sachs that AI’s impact on the economy may not be as immediate as previously expected, but sees long-term potential in increasing productivity and efficiency.
Lonsdale also touched on the concept of "little Tech" and "Big Tech," distinguishing between innovative, agile companies and the larger, more established players. He argues that "Big Tech" has become slow, ideologically corrupted, and has the potential to become monopolistic, highlighting the need for regulation to curb their power.
Regarding the judge’s decision against Google, Lonsdale believes that "Big Tech" companies have become anti-competitive and in need of scrutiny. He supports holding them accountable, but opposes radical regulation that would harm the overall economy.
In the realm of politics, Lonsdale is critical of the current administration’s approach to deal-making and regulation, citing the example of the FTC and its recent decisions. He worries about the erosion of the rule of law and the potential for abuses of power.
Lonsdale remains a strong advocate for innovation, entrepreneurship, and free-market principles, while encouraging a more balanced approach to regulating Big Tech. His values are largely rooted in his entrepreneurial background, where he has seen firsthand the potential for innovation and growth in the private sector.
