No one who was involved in naming the company has ever asked themselves that question, but it might be a good thing to consider for the devs wearing "Defend the Shire" shirts around.

Pippin, you weren’t supposed to actually LOOK into the Palintir! Fool of a Took.

The whole story is such a direct fable of the danger of powerful tools being used perhaps initially with neutral or good intent but ultimately serving the interest and aims of powerful evil people, how the very power itself will inevitably corrupt the bearer and how some tools are perhaps just better off never ever being used. With a company actually called Palantir, is this just lack of awareness or is it nihilism?

With someone like Peter Thiel I find it very easy to believe that all he got out of the Palantir subplot of LotR was "wow, it would be great if something like that really existed!" and all the cautionary elements of the tale just went in one ear and out the other. Or, he just doesn't mind becoming an actual Sauron figure.

Based on interviews I’ve heard with him it seems like he would have a sophisticated argument about why Tolkien was somewhat insightful about technology’s transformative power, but ultimately naive and that reading LOTR through a Girardian lens allows for a synthesis that overcomes its childish Manichean framing.

Or: if you are like Saruman, using the Palantir will corrupt you. You have to be like Sauron, who is in no danger of being further corrupted by the Palantir...

You're good at wording.

And just like Tolkien's Palantíri, said information can drive others mad and although it may be truthful, it can still be manipulated to create a false impression.

Far too fitting indeed.