Palmer Luckey — From Flipping iPhones to Selling Oculus & Building Anduril | My First Million

Palmer Luckey’s entrepreneurial trajectory illustrates how practical engineering and contrarian instincts can disrupt established industries. Starting as a teenager repairing iPhones to fund early VR prototypes, Luckey prioritized long-term mission over immediate profit, eventually selling Oculus to Facebook for billions to ensure the technology reached global scale. His subsequent venture, Anduril, challenges the traditional defense industrial complex by replacing slow, cost-plus contracting with a model where the company invests its own capital to build proven systems before seeking government contracts. This shift toward private-sector risk-taking in national security aims to modernize procurement and enhance deterrent capabilities. Luckey’s success stems from cross-disciplinary expertise in optics and software, a reliance on merit-based hiring from maker communities, and a commitment to aligning financial incentives with rehabilitation or defense outcomes. His journey underscores the power of building alternative systems rather than merely critiquing existing ones.