Tom Watson’s move to Palantir is the latest sign of how far the rot has spread in UK politics

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-09-24 • Permanent link

Momentum shifted in the financial markets yesterday as news broke that Tom Watson, the former Labour deputy leader, has joined Palantir, a firm built on surveillance and military targeting. The move has sent shockwaves through the industry, with investors reassessing their exposure to the company. Palantir's shares plummeted 5% in early trading, wiping out billions of dollars in market value. The sell-off was particularly pronounced among tech stocks, with Palantir's rival, Microsoft, seeing its shares rise 2% as investors bet on a potential shake-up in the market.

Consequences of this move will be far-reaching, with implications for investors and consumers alike. As a former Labour leader, Watson's involvement with Palantir raises questions about the company's lobbying efforts and potential influence on government policy. This could lead to increased scrutiny of the firm's activities, particularly in the areas of data collection and surveillance. Regulators will be watching closely to ensure that Palantir's activities align with the law, and investors will be eager to see how the company responds to the backlash.

Industry insiders point to Palantir's history of controversy as a key factor in Watson's decision to join the firm. Founded by Peter Thiel and Palantir's CEO Alex Karp, the company has faced criticism for its work with the US government on border surveillance and its handling of sensitive data. Since last quarter, Palantir's stock has been on a tear, driven by growing demand for its data analytics platform. However, the company's reputation has been tarnished by allegations of wrongdoing, and Watson's involvement may be seen as a attempt to revamp the firm's image.

As the dust settles, investors will be keeping a close eye on Palantir's quarterly earnings report, due out next week. The company is expected to report strong revenue growth, driven by increasing demand for its data analytics platform. However, the sell-off in Palantir's shares has raised concerns about the company's ability to maintain momentum. With Watson's involvement, Palantir may be seen as a bellwether for the tech industry's approach to data collection and surveillance, and investors will be eager to see how the company navigates the challenges ahead.