Over two years after leaving Oculus to start drone maker Anduril, Palmer Luckey is finding a big market in defense.
'Things don't move fast when it comes to defense'
Still, industry analysts are cautious. They say that Luckey and his 145 employees should expect a fight, noting that the incumbents are big companies with sizable research and development budgets and a long history of working alongside U.S. government agencies. "It is hard to displace established defense companies," said Jim Corridore, an analyst at CFRA. "Things don't move fast when it comes to defense. Changes aren't made rapidly."
Corridore also says that "these are established players that fight for every dollar, and they also have big lobbying arms." At age 27, Luckey is of a different time and place. Born and raised in Long Beach, California, his father worked as a car salesman while his mother homeschooled Luckey and his three sisters. He started college at age 15, but dropped out at 19.
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