How Palmer Luckey built a successful career. Explore key moments that defined the journey.
Palmer Luckey is an American entrepreneur who founded Oculus VR and designed the Oculus Rift, a pioneering virtual reality headset. He is credited with revitalizing the VR industry. After leaving Oculus in 2017, Luckey founded Anduril Industries, a defense technology company specializing in autonomous drones and sensors for military applications. He was recognized on Forbes' list of America's Richest Entrepreneurs Under 40 in 2016.
In 2009, Palmer Luckey founded the ModRetro Forums with a friend. It was an online community for "portabilization", revolving around converting old hardware into portable units.
In 2009, at age 16, Palmer Luckey began building his own VR headsets to address the shortcomings of existing head-mounted displays, such as low contrast and high latency.
In April 2012, Palmer Luckey launched Oculus VR to facilitate the Kickstarter campaign for the Oculus Rift.
In August 2012, after a successful Kickstarter campaign, Palmer Luckey hired Brendan Iribe as the CEO of Oculus VR, leading to company expansion and further development of the Oculus Rift.
In 2012, John Carmack demonstrated id Software's Doom 3: BFG Edition on Palmer Luckey's Oculus Rift prototype at the Electronic Entertainment Expo, generating significant attention and leading Luckey to drop out of university to focus on the Rift full-time.
In March 2014, Facebook acquired Oculus VR for US$2 billion. Palmer Luckey's share was not made public.
In September 2016, Palmer Luckey donated $10,000 to "Nimble America", an organization promoting "America First" ideals and offered to match donations from r/The_Donald users. Following negative impact on Oculus, Luckey apologized on Facebook, stating he acted independently. It was later reported he was pressured to make the statement as a condition of employment.
In March 2017, Palmer Luckey left Facebook and stopped his involvement with Oculus VR. No explanation was given by either party.
In June 2017, Palmer Luckey founded Anduril Industries, a military technology company focused on autonomous technology.
In 2017, Palmer Luckey left Oculus VR. He subsequently founded Anduril Industries, a military technology company focused on autonomous drones and sensors.
In March 2018, Anduril Industries began a pilot program for the US government to detect human trafficking and drug smuggling at the southern border of the US.
In September 2020, Palmer Luckey announced that Anduril received a $967M contract for the Advanced Battle Management Systems (ABMS) project by the U.S. Air Force.
In February 2022, Anduril won a $1 billion contract to lead counter-unmanned systems work for United States Special Operations Command (SOCOM).
On May 4, 2022, Anduril and the Australian military began commercial negotiations for a $100 million co-funded program to design, develop, and manufacture extra-large autonomous undersea vehicles (XL-AUVs) for the Royal Australian Navy.
In November 2022, Palmer Luckey created a VR headset art piece, a modified Meta Quest Pro, that kills the user in real life if they die in the video game. The headset uses explosive charges to target the user's forebrain.
In December 2022, Anduril raised around $1.5 billion led by Valor Equity Partners, valuing the company at $8.5 billion.
In June 2024, ModRetro, the company founded by Palmer Luckey, released its first product, the ModRetro Chromatic, a handheld retrogaming device designed to play original Game Boy games.
In May 2025, Anduril and Meta announced a partnership to develop extended reality (XR) devices for the U.S. military, combining Meta’s Reality Labs hardware and Llama AI model with Anduril’s Lattice software. This followed the Army reassigning a $22 billion augmented reality contract from Microsoft to Anduril earlier in the year.
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