Let's talk about Anduril

I’m producing a preliminary analysis of Anduril based on Lattice activity

The reporting on Palantir links stopped a year ago. This gave me a lot of time to reflect and, during that journey, enjoy the ride up to a point where every share was valued $100 more than when I initially bought.

In these months I’ve experienced a change in my professional life that made me stop posting on X under my Either_Square account, but I kept this Substack open, just in case I decided to come back. I made a promise that I’d begin reporting on Anduril, and with the recent activity surrounding the company and its efforts in recruiting (the Don’t Work at Anduril campaign) plus a probable public offering in the not too distant future, I’d say now is the time.

There is of course a close connection between Palantir and Anduril, and I’m not only talking about the Lord of the Rings and how Peter Thiel has interests in both companies, but the symbiosis in work ethic, culture and a shared belief in preserving the West and our way of life. It’s also both companies that acknowledge defense and technology as the best way to deter our enemies and recent Pentagon initiatives make us think that there is room for growth in the hardware and software defense environments.

Up until SkyKit, Palantir didn’t offer any hardware product, and we haven’t really seen anything else other than TITAN, which was in collaboration with a number of companies, including Anduril. The collaboration of both for a common enterprise doesn’t only apply to TITAN, but we can also bring up the AI Consortium for National Security, established in December of 2024, and the integration of WarpSpeed in Anduril’s Arsenal OS.

In the last months of the Palantir DataBase, I began adding data on Anduril in a separate subset, and just before shutting it down I had exactly 33 unique Anduril links related to internal, commercial and government entities, all with their own date of creation.

One year later, this number has grown substantially, to more than 2x.

Given my previous inactivity, the accuracy of prior quarters is not reliable. I will now begin a quarterly update so that when Anduril decides to DPO or IPO we will have the experience and data to keep track of the company and the progress of Lattice distribution. As time passes, we will perfect this machine, and just as with the Palantir one, we will yield precious resources to those with access to it.

I’ll also be keeping track of other indicators to back this new project, so that the integrity and value of future reports can increase. The Palantir journey has been and still is amazing and it made us learn a lot in different areas of business and life. Coming from that adventure, I won’t be disclosing the names of individual entities, so that any information that I share doesn’t compromise Anduril and the nature of their job.

Given the relatively low demand for Anduril content at this time, this also presents itself as an opportunity to refine and take all the time in the world to perfect this new project. For the time being, this will be a free and open project and those that want access to it just have to ask.

I’m beyond excited to return to what I did and enjoyed, and will keep it only Anduril at this time. If there’s positive feedback and there’s a demand for it, I’ll consider doing the Palantir quarter reports again, focusing only on link growth and geography distribution, without naming any individual company or entity.

Expect the first Report on Anduril on March 31st.