Palmer Luckey - Inventing the Future of Defense - [Invest Like the Best, EP.350]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Technology, Business, Investing

4.7 • 2.5K Ratings

🗓️ 31 October 2023

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Palmer Luckey. Palmer is the founder of Defense company Anduril Industries, which makes next-generation military technology for the US and its allies. Since bringing the company to life in 2017, Palmer and Anduril have disrupted the established order in the Defense industry. Prior to Anduril, Palmer founded Oculus VR, a virtual reality business that he sold to Facebook for $2 billion. Palmer is only in his early 30s, but he has already experienced more than most people will in a 40-year career. We talk about innovation, invention, differentiated thinking, and so much more. Please enjoy this great discussion with Palmer Luckey. Listen to Patrick's Business Breakdown with Anduril CEO. Listen to Founders Podcast For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Tegus. Tegus is the modern research platform for leading investors, and provider of Canalyst. Tired of calculating fully diluted shares outstanding? Access every publicly-reported data point and industry-specific KPI through their database of over 4,000 drivable global models hand-built by a team of sector-focused analysts, 35+ industry comp sheets, and Excel add-ins that let you use their industry-leading data in your own spreadsheets. Tegus’ models automatically update each quarter, including hard-to-calculate KPIs like stock-based compensation and organic growth rates, empowering investors to bypass the friction of sourcing, building, and updating models. Make efficiency your competitive advantage and take back your time today. As a listener, you can trial Canalyst by Tegus for free by visiting tegus.co/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Show Notes: (00:03:28) - The importance of synthetic long-chain hydrocarbon fuel (00:09:37) - Ranking America's potential for innovation (00:12:43) - Why there aren't more Thiel Fellowships (00:14:56) - The principles that motivate and drive him (00:18:21) - What it has been like working in the world of defense after the attack on Israel (00:20:34) - Surprising lessons learned when building a large company (00:24:02) - How to approach a new field initially (00:28:45) - Meeting other out-of-the-box thinkers (00:33:11) - Inventors working backward from existing systems versus forward from their ideals (00:34:51) - The most pressing issue in national security (00:41:01) - What matters most for America from a defense perspective (00:43:58) - How to determine which problems to prioritize (00:50:24) - Lessons learned from working with AI (00:57:21) - How Apple is shaping the future of VR (01:01:36) - Which videogame a prospective employee should excel at (01:04:06) - Why Oculus was so successful in marketing (01:11:13) - The kindest thing anyone has ever done for Palmer

Transcript

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0:00.0	This episode is brought to you by Ticus, the modern research platform for leading investors and the provider of
0:05.1	Canalist. Tired of calculating fully deluded shares outstanding, access every publicly reported data point and
0:11.5	industry-specific KPI through their database of over 4,000 drivable global models,
0:17.2	hand-built by a team of sector-focused analysts, 35-plus industry comp sheets, and excel add-ins that
0:23.5	let you use their industry-leading data in your own spreadsheets. Ticus is models automatically
0:27.9	update each quarter, including hard-to-calculate KPI's like stock-based comp and organic growth rates,
0:33.2	empowering investors to bypass the friction of sourcing, building, and updating models.
0:37.2	Make efficiency your competitive advantage and take back your time today. As a listener,
0:41.8	you can trial Canalist by Ticus for free by visiting tegus.co-slashpatrick.
0:46.8	If you're a regular listener of my podcast, I have another recommendation for you. The podcast is
0:51.8	called Founders, and it's hosted by David Senra, who has devoted his life to learning from
0:56.2	history's greatest entrepreneurs. Each week, David distills the lessons of a different founder,
1:01.0	from Henry Ford to Coco Chanel to Edwin Land. His recent episode on James Cameron is particularly
1:06.8	excellent if you're looking for somewhere to start. I guarantee if you listen to Founders,
1:10.8	you'll feel inspired to level up whatever you're working on. You can find a link to Founders in
1:15.5	the show notes of this conversation, and because Founders is part of the Colossus Network,
1:19.6	you can search all the past transcripts on our website at joinkalossus.com.
1:27.5	Hello and welcome, everyone. I'm Patrick O'Shaunasey, and this is Invest Like The Best.
1:31.8	This show is an open-ended exploration of markets, ideas, stories, and strategies that will
1:36.7	help you better invest both your time and your money. Invest Like The Best is part of the Colossus
1:41.5	family of podcasts, and you can access all our podcasts, including edited transcripts,
1:46.4	show notes, and other resources to keep learning at joinkalossus.com.
	...

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