Podcast Summary: The Indicator from Planet Money Episode: More for Palantir, less for mRNA, and a disaster database redemption arc
Release Date: August 8, 2025
Host/Author: NPR

Introduction

In this episode of The Indicator from Planet Money, hosts Waylon Wong and Darian Woods, joined by special guest Amanda Roncik, delve into three significant economic and technological developments shaping today's landscape. The discussion navigates through Palantir's soaring sales, the health department's substantial cuts in mRNA vaccine projects, and the revival of a billion-dollar weather and climate disasters database.

Palantir’s Explosive Growth and Controversies

Amanda Roncik introduces the week's first indicator at [02:15], highlighting Palantir's impressive $1 billion sales growth in the last quarter. She attributes this surge to the company's expanding contracts with the Trump administration. To provide context, Roncik explains Palantir’s origins and core operations:

"Palantir was co-founded by Peter Thiel of PayPal fame a couple of years after 9/11. The idea was they could take similar anti-fraud software that PayPal used and apply this to combating terrorism. And so now Palantir has a few lines of work, like helping private companies with a lot of it revolves around integrating data sets from around government departments, mostly for intelligence and the military." (02:39)

The hosts humorously critique the ominous naming of Palantir’s software:

Waylon Wong: "These names get darker and darker. Why couldn't they have called it Palantir Pleasantville, Palantir Whoville?" (03:08)

Roncik details Palantir’s key product, Palantir Gotham, used extensively by intelligence agencies and police forces to track and predict individual movements. She cites CEO Alex Karp's statement from an earnings call:

"Palantir is here to disrupt and make our institutions... and when it's necessary to scare enemies." (03:17)

Despite Palantir’s valuation soaring to approximately $420 billion—outpacing giants like Johnson & Johnson and Home Depot—analysts express skepticism regarding the sustainability of such a high valuation relative to its $1 billion quarterly revenue:

Waylon Wong: "I mean, I'll say that's a huge gulf between revenue and this valuation." (04:56)

Health Department’s $500 Million Cut in mRNA Vaccine Projects

Transitioning to the second indicator, Darian Woods reveals a significant $500 million cut by the health department from 22 mRNA vaccine projects (05:05). This decision marks a substantial shift in governmental support for mRNA technology development, a field that gained prominence during the COVID-19 pandemic.

Woods provides a brief historical overview of mRNA vaccines, emphasizing their rapid development and impact:

Darian Woods: "In just months, a vaccine is created and it's tested and it starts being prod. If you still have a vaccine card tucked in a drawer somewhere and you have the Pfizer Biontech or the Moderna vaccine, that is an mRNA vaccine." (05:34)

Amanda Roncik adds that mRNA vaccines were a cornerstone of Operation Warp Speed, a public-private partnership aimed at accelerating vaccine development, which ultimately saved millions of lives and earned two researchers the Nobel Prize in 2023.

However, the recent funding cuts, as explained by Woods, reflect ongoing debates about the efficacy and future of mRNA vaccines:

Darian Woods: "Robert F. Kennedy Jr. Isn't investing health department money in vaccine development anymore?... He just says he's cutting the funding for mRNA vaccines. He says that the mRNA vaccines fail to protect effectively against upper respiratory infections like Covid and flu. And sure, these vaccines are not perfect, people do still get sick. But the idea that they fail to protect effectively is simply not true." (07:03 – 07:17)

The Billion-Dollar Weather and Climate Disasters Database Redemption Arc

Waylon Wong presents his indicator at [07:36], focusing on the billion-dollar weather and climate disasters database managed by NOAA (National Oceanic and Atmospheric Administration). The database, which records extreme weather events in the U.S. incurring at least $1 billion in damages, had been retired in 2024 but is now being resurrected by Climate Central with the expertise of Adam Smith, the original architect.

Amanda Roncik playfully compares the scale of the database funding to Palantir’s revenue:

Amanda Roncik: "So it's a database of disasters that cost as much as 1/4 of Palantir revenue." (08:09)

Wong elaborates on the challenges faced in redeveloping the database:

Darian Woods: "It's pretty complicated landscape to redevelop something like this. It's certainly not straightforward, but that's where we are right now with sounds like it is not that simple." (09:10)

The team discusses the comprehensive nature of the database, which aggregates data from over a dozen public and private sources, including the U.S. Department of Agriculture and insurance companies. This aggregation allows for detailed tracking of damages across various sectors like homes, vehicles, forests, and electricity grids.

Conclusion

The episode wraps up with reflections on the interconnectedness of government contracts, public health funding, and environmental data management. The hosts express appreciation for the updates and insights provided by Amanda Roncik and each other, emphasizing the importance of understanding these economic indicators to make sense of broader societal trends.

Darian Woods: "Thanks for the update, Waylon. I feel like I just live here in the indicator all the time and I can just... Thank you." (09:53)

Notable Quotes

• Amanda Roncik on Palantir’s Valuation:
  "It's now valued in the stock market at about $420 billion, which is among the very top echelon of companies in the US—it's more than Johnson and Johnson. It's more than Home Depot. It's more than Bank of America." (04:27)

• Darian Woods on mRNA Vaccine Funding Cut:
  "He just says he's cutting the funding for mRNA vaccines. He says that the mRNA vaccines fail to protect effectively against upper respiratory infections like Covid and flu. And sure, these vaccines are not perfect, people do still get sick. But the idea that they fail to protect effectively is simply not true." (07:03 – 07:17)

• Waylon Wong on Disaster Database Funding:
  "It's a database of disasters that cost as much as 1/4 of Palantir revenue." (08:09)

Key Takeaways

• Palantir’s Growth: The company has experienced significant revenue growth through government contracts, particularly with defense and intelligence agencies. However, its lofty market valuation raises questions among analysts regarding its long-term financial sustainability.

• mRNA Vaccine Funding: The health department's $500 million cut from mRNA projects underscores the ongoing debates about vaccine efficacy and future investment directions in public health.

• Disaster Data Revival: The rejuvenation of NOAA’s billion-dollar disaster database by Climate Central represents a crucial step in enhancing the tracking and management of extreme weather events, reflecting a broader commitment to addressing climate change impacts.

This comprehensive discussion offers listeners a nuanced understanding of these pivotal issues, highlighting the intricate balance between government roles, private sector innovation, and public welfare.