Thiel is wrong. What is happening in batteries is insane. SpaceX is doing amazing things in space and many smaller companies are doing great things too. Starlink itself is revolutionary, Starship is arguably even more so.

And btw the advancements in batteries and EV is exactly what is needed actually do flying cars, if that is even a good idea in the first place.

Government programs are often massively badly managed, politically captured, this is not new. But it doesn't mean nobody is inventing anything new anymore.