That defeat, at Anfield, is one of only two setbacks in the top flight - the other on the opening day at Chelsea - under new boss Patrick Vieira, who has guided the Eagles to victory at champions Manchester City, and wins over Spurs and Wolves.
For Vieira, it is his first managerial role in England, having had spells with New York City in the MLS and Nice back home in France.
And while things are currently going swimmingly for Palace, Clarets boss Sean Dyche feels Vieira's knowledge of the Premier League - where he spent 11 seasons with Arsenal and then Manchester City, means he won't be getting carried away.
Asked what changes Vieira has made, after the summer departure of Roy Hodgson, Dyche said: “Along with the recruitment, it looks to me there’s that-new-manager edge, trying to be on the front foot more, trying to pass, trying to play.
“I don’t know him that well, I met him recently by chance. I did remind him 'enjoy it now' because it doesn’t last forever.
"I did say that to him because I’ve been down that road.
“At the end of the day he will be trying to get his point across to the players.
"I don’t think he’s naive, I think he’s been around the game long enough to know the challenges of the Premier League.
“I’m sure he won’t think they’re the real deal or anything like that.
“I’m sure he will now he will need to keep working with those players.”
Vieira had to move swiftly to replace a number of players leaving Palace at the end of their contracts, signing Joachim Andersen (£15.75m), Odsonne Edouard (£14.67m), Michael Olise (£8.37m), Conor Gallagher on loan from Chelsea, Marc Guehi (£21m) and Burnley target Will Hughes (£6.3m).
Dyche's business at Burnley has been more evolution, even under new owners, and he added: "I have a lot of respect for the job he’s done there to stabilise things and calm things.
“He’s looking to format his style in the way they can play. He’s had a good start it seems to me.
“The longevity is the key. Teams can have good periods of a season in the Premier League, it’s prolonging the good period or not being damaged by the bit when it doesn’t go so well.
“Unless you’re in the top six, everyone outside of that, is likely to have a period where it doesn’t work so well for them.
“So the measure of a team is not when it’s going well, it’s the bit when they’re not going so well.
“I’m sure that will be at the back of Patrick’s mind. I’m sure he thinks they are going well at the minute.
"I’d be very surprised if he thought that controls the rest of the season.
"It might do, but there are plenty of challenges in the Premier League that remind you of the truth of it and I’ve worn that t-shirt a number of times.”