Palantir's business operations are not a secret, despite the company's latest efforts at obfuscation. In fact, there is a recent academic study about Palantir and the surveillance data industry:

Sarah Brayne (2020) Predict and Surveil: Data, Discretion, and the Future of Policing, Oxford University Press

https://www.amazon.com/Predict-Surveil-Discretion-Future-Pol...

According to the book, Palantir is one of the largest companies specializing in surveillance data management services for clients in the U.S. military, law enforcement and other corporations. Palantir does not own its data but rather provides an interface that runs on top of other data systems, including legacy systems, making it possible to link data points across separate systems. Palantir gathers its data primarily from "data brokerage firms," including LexisNexis, Thomson Reuters CLEAR, Acxiom, CoreLogic, Cambridge Analytica, Datalogix, Epsilon, Accurint. As Brayne observes, these data brokerage firms "collect and aggregate information from public records and private sources, e.g., drivers licenses, mortgages, social media, retail loyalty card purchases, professional credentials, charities’ donor lists, bankruptcies, payday lenders, warranty registrations, wireless access points at hotels and retailers, phone service providers, Google searches and maps geolocation, and other sources who sell your data to customers willing to pay for it. Yet it is difficult to fully understand the scope of the data brokerage industry: even the FTC cannot find out exactly where the data brokers get their information because brokerages cite trade secrecy as an excuse to not divulge their sources" (pp. 24-5, 41-2).

Why is this a concern for people living in a democratic society with a supposedly strong legal system that protects individual freedoms? "Big data companies argue that their proprietary algorithms and data are trade secrets, and therefore they refuse to disclose their data, code and techniques with criminal defense attorneys or the public" (p. 135). This means that, "In many cases it is simply easier for law enforcement to purchase data from private firms than to rely on in-house data because there are fewer constitutional protections, reporting requirements and appellate checks on private sector surveillance and data collection, which enables police to circumvent privacy laws" (pp. 24-5).

There is an excellent academic study about the (mis)use of surveillance data in the criminal justice system:

Sarah Brayne (2020) Predict and Surveil: Data, Discretion, and the Future of Policing, Oxford University Press

https://www.amazon.com/Predict-Surveil-Discretion-Future-Pol...

Based on field work conducted with officers and IT personnel in the Los Angeles Police Department, the author convincingly shows that law enforcement generally follow an "institutional data imperative," i.e., a mandate to collect as much information as possible, in part by securing routine access to a wide range of data on everyday activities from non-police databases. Data originally collected for one purpose is used for another (p. 53).

This is a great article. For more background on this growing industry, I recommend a recent academic study on the use of surveillance technology at the Los Angeles Police Department. The book documents the LAPD's use of data brokerage firms that collect and aggregate info from public records and private sources (e.g., Palantir), as well as automatic license plate readers (ALPR’s) which record vehicles are they move around the city, and Suspicious Activity Reports from police and civilians, which include reports of mundane activities such as using binoculars, drawing diagrams, or taking pictures or "video footage with no apparent aesthetic value." All this data ultimately gets parked in Fusion Center facilities built after 9/11 where federal, state and local law enforcement agencies collaborate to collect, aggregate, analyze and share information. As the author observes, "The use of data in law enforcement is not new. For almost a century, police have been gathering data, e.g., records of citations, collisions, warrants, incarcerations, sex offender and gang registries, etc. What is new and important about the current age of big data is the role in public policing of private capitalist firms who provide database systems with huge volumes of information about people, not just those in the criminal justice system."

Sarah Brayne (2020) "Predict and Surveil: Data, Discretion, and the Future of Policing," Oxford University Press

https://www.amazon.com/Predict-Surveil-Discretion-Future-Pol...