While I believe Tim's business has nothing to do with this, I think that I agree with JohnGenXs conclusion that parents can do a lot to teach some of the things that Tim wishes his son took into consideration.
I live among people just like this. They are wealthy and their adult children are total shits, drinking and driving and crashing their expensive cars. Most of them are making nothing of their lives 'cause they have not been parented. they have no idea of what it is like to make their own way. They have not been given any self reliance skills. The parents spend all their time making money, and then use that money to "parent" and sooth their guilt by buying stuff for the kids, like an Audi S4.
So, his business does have a lot to do with it. If he spent less time at it, and more time parenting, things probably would have turned out better.
Now, people from all socio-economic groups can be poor parents, but where I live (no poor folks) the middle class people that sacrifice their careers somewhat tend to have great kids that become great people, while the rich folks spend a lot of their spare time bailing their kids out of jail. Kids need time, not fancy cars.
Tim should take out a full page ad:
"Parents of young children, please spend as much time with your children as possible and be a great role model for them. Show them through your actions about personal responsibility. Grow with them as they become adults and by being a terrific and responsible person, they will know no other way. Control their peer group. If the school is filled with spoiled shits, move. Keep them involved in activities where they meet the "right" sort of kids."
And so on. We don't need laws to keep that kid off the road. We need parents and communities. He should man-up and admit he was a lousy parent and stop asking for new laws. It is ALREADY against the law to drink and drive, no matter how old or young.