Molt was an engineer who had worked on a flying car, the Aerocar series, for over 30 years. He'd actually built and flown his design and got it certified for production. One of the Big 3 automakers (Ford, according to this article was going to put the plane into production with the initial goal of selling 10,000 a year.

Enter the bureaucrats: The Aerocar was a car, so they jumped in with all sorts of requirements like 5 MPH bumbers, safety glass, etc. that added a lot of weight and expense to the vehicle. These were new requirements at the time. But wait, it's also a plane! By the time they were finished, a person had to have about 7 different licenses and permits to operate an Aerocar. The automaker threw up its hands (and probably its lunch) and backed off. Needless to say, Molt didn't have many nice things to say about bureaucrats.

Aerocar Model I

I admit, it's a homely little thing. The model 3 version looked much better, sort of like an Opel GT. There a Model I at my local airport. The owner is studying it in the attempt to build his own flying car design.

From all that I've seen over the last several years, the Skycar is nothing more than a fiberglass shell designed to lure investors. Until it flies, it's nothing more than a pipedream and may even be a scam.