Anduril founder says U.S. can spend billions less on defense: 'We spend too much money on the wrong thing'

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Defense spending has been the talk of Singapore’s Airshow this week but that’s not an accurate way to measure military strength, Palmer Luckey, founder of defense tech firm Anduril Industries, said on CNBC’s “Squawk Box Asia” Wednesday.

That comes after U.S. President Donald Trump in January expressed interest in raising the U.S military budget to $1.5 trillion in 2027, which he said would allow Washington to build a “Dream Military.”

“Too many people measure the success of the defense base in terms of dollars,” Luckey said.