In a medium mixing bowl, combine the breadcrumbs and milk. Let the mixture sit for 5 minutes until the breadcrumbs soften and absorb the milk.
Add the ground beef, ground pork, egg, Parmesan cheese, garlic powder, onion powder, salt, pepper, and parsley to the bowl with the breadcrumb mixture. Use your hands to gently mix until everything is evenly combined, being careful not to overwork the meat.
Scoop out about 2 tablespoons of the mixture and roll it gently between your palms to form a 1 1/2-inch meatball. Repeat until all the mixture is used, placing the meatballs on a clean plate or baking sheet.
Heat the olive oil in a large skillet over medium heat. Once the oil is shimmering, add the meatballs in a single layer, leaving space between them. Cook for 6-8 minutes, turning occasionally, until they are browned on all sides and cooked through (internal temperature should reach 160°F).
Transfer the cooked meatballs to a paper towel-lined plate to drain any excess oil. Serve warm with your choice of sauce or sides.