I think there are two camps with this one... going to space helped us with all kinds of tech... so it follows that building flying cars will also make lots of amazing technology avialable, something about a rising tide mumble mumble...
But there's also the line of thinking that if these guys have the willpower to do that, why can't we get clean drinking water for every person on the planet... or solve world hunger, or whatever great cause du jour.
I think rich playboys pick things like rockets and flying cars because it allows them an intellectual outlet while avoiding the nasty business of fixing the "human problems" like warlords, ignorance and superstition, and apathy. Those are the real reasons we have starving people on this planet... not because of lack of technology.
Also, I have to agree about the price of housing. Why all tech companies all have to be physically located within walking distance of each other befuddles me. Hopefully one day Tele-presence tech will get good enough that it doesn't matter where you live, and commuting will be a thing of the past... Then you can live where you want and not have to worry about traffic and insane housing costs.