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Palantir CEO Alex Karp says this deadly tidal wave of macroeconomic risks will get rid of some companies

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Palantirco-founder and CEO Alex Karp believes this era of “deadly” macroeconomic uncertainties will crush many companies with shaky fundamentals.

“Bad times are incredibly best for Palantir… bad times really uncover the durable companies, and tech is certainly going through bad times … interest levels will be the reason,” Karp said Thursday on CNBC’s “Squawk Box.” “Will this deadly tidal wave get rid of some companies? Yes it’ll.”

The Federal Reserve on Wednesdayraised benchmark interest levelsby another three-quarters of a share point to a variety of 3%-3.25%, the best since early 2008.THE LENDER of England, the Swiss National Bank, and the central banks of Norway, the Philippines, South Africa, Taiwan, Vietnam and Indonesia followed suit, hiking rates to regulate inflation which has spiraled during the last year.

Palantir is really a developer of data analysis software thatwent public with a direct listing in September 2020after nearly 2 decades as an exclusive company. The stock is down nearly 60% this season.

Karp said only those quality companies producing durable goods would survive the crisis.

“So as to the durable companies which come using this in three, four years … are largely likely to be from America, largely from the West Coast plus they are likely to be concentrating on producing items that actually matter,” Karp said.

Watch CNBC's full interview with Palantir CEO Alex Karp

The chance of a recession in the U.S. crept higher because the Fed vowed to beat inflation with aggressive rate hikes. The central bank has dialed down its economic projections, predicting higher unemployment and far slower GDP growth.

Karp believes that the problem is a lot more dire overseas.

“Folks are scared s—less about energy beyond America,” Karp said. “They’re so scared concerning the macro-political conditions that nobody wants to discuss them. Their enterprises are designed for a static and unified world of peace. The total amount sheets obviously tend to be not prepared for after that happen, that i think will probably be pretty bad within the next year or two politically and economically.”

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