Say that to Elon Musk. Imagine the inventors using this money in the same way Musk did. If they do (or at least try) I'd say humanity comes out on top - even though this killed our dream of VR in the near future.
How many Elon Musks are there? Most billionaires seem to spend their money on fancy yachts and high-profile charity projects that make them look superior to their peers. Few are deploying their resources to push the technological envelope.
Although I don't agree with you about their motives (wrt just trying to look superior to their peers), I won't argue that point.
But even if you think their motives behind the charity are selfish, don't discount the effects.
How many Einsteins, von Neumans, Ramanujans, or Musks (pick your genius of choice, really) are stillborn in the developing world because of malaria or HIV? How many never achieve their potential because of malnutrition or polio?
If the Gates Foundation eradicates malaria and polio, and we get a few more world-changing geniuses out of it, they'll have done much more to push the technological envelope than any other endeavor.
I'm not going to argue that eradicating malaria is a bad thing, but it's inaccurate to infer that the only thing preventing the worlds extreme poor from being leaders of industry is good health.
