How can I give reality check to my ''sigma male'' nephew ?

My nephew is a teenager, this year he made around %3000-%4000 profit on meme coins with a small amount of money. After that he bought himself a designer suit, fake Rolex, fake followers on Instagram and Tiktok. A few months ago, he came to my house and took hundreds of pictures with different clothes to share until next year. He is now selling trading/investing courses on a site and giving financial advices while making a good amount of money for a teenager. But, he is failing every class and probably will fail SAT too.

I have talked with my lawyer about his situtation, and consequences that can happen. According to him, he may even go to a state prison if someone sues him for a big amount of money.

Last week we had an argument. I have a private Instagram account that I only follow family members and close friends. Because of his increasing follower base I had to remove him from my Instagram for not being associated with him. He sent me a message asking me why I removed him, after telling why, he told me exactly this ''Sigma males don't need other people, no worries''. I still can't believe to the things I'm hearing from him. He became a different person after getting into this meme coin cult.

His parents are middle class and on the softer side, so he did not listen their advices and continued to invest in stupid coins, and now his parents have hopes that he may become a millionaire. Even though he doesn't tell the exact amount of money he has, I'm assuming that it's more money than his parents have in their bank account. Because his parents opened his account with parential consent, they can stop all the transactions and withdraw all the money, but they won't do it to not effect his life goals...

I did a really long talk with him yesterday. He told me about his plans, and it's so dumb. He is waiting for Elon Musk to tweet about next meme coin so he can multiply his money and become a millionaire while growing up his ''financial advice'' business. Also he is hoping to go to Stanford or Harvard by showing his ''entrepreneurship'' on crypto market, then drop out and start his own crypto chain with his friends and become billionaires. When I told him that it was just luck that he made profit, he told me that dinasours will not understand the crypto market, and he made a profit in a month that I will never make in 10 years...

Even though he is a disrespectful dumbass, he will waste his life by doing this. He will either go broke, or get sued by someone for bad financial advice. I can't believe that there are sites letting him sell financial courses and give financial advice. Sad thing is that his parents are literally not stopping him from doing this because they don't believe that someone can sue them over crypto, and he can lose all the money.

There is no possiblity of me recommending him to someone, so if he doesn't go to a college he will be working for a minimum-wage job.

Any advices ?

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Comments (36)

  • Research Analyst in HF - Other
Nov 11, 2021 - 5:09pm

Maybe you can try to "time the market", so to speak. Wait until when he's down 60% in one day due to the volatile shitcoin he's in, and then have a talk and see if he's more receptive. Or, you can try to out-degen him. Read all the white papers on bitcoin, eth, solana, luna etc (all the web3 projects), gain a strong technical understanding of them, and have a conversation where you rigorously examine his crypto theses. That way, he can no longer consider you a "dinosaur" if you're incredibly in-tune with the developments in the crypto space (some of them may be genuinely interesting to you too). If anything, this will gain his respect. Once you start spewing crypto jargon that he hasn't even heard before, he'll think oh shit this guy knows what's up, better listen to him more carefully.

As they say, you gotta understand the enemy in order to defeat em.

Funniest
Nov 11, 2021 - 5:22pm

I think I'm following your nephew on Instagram. He charged me $500 to recommend some good crypto picks and I got 2000% return in a month.

Highly recommend 10/10.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

  • 31
Nov 11, 2021 - 5:47pm

kellycriterion

So that's where the Solana pick came from

haha wow you know my post history very well - nicely done.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Nov 11, 2021 - 5:28pm

I wonder if you might have any success by encouraging him to take some chips off the table. If he's as successful as you make it seem, this might be on the table. If you present him with internet communities like FIRE and FatFIRE, he might come to your way. This would de-risk his position substantially.

His legal position as an unregistered investment advisor is highly dangerous. Would it be possible for him to get an RIA or go legitimate with it? He might be successful if he did and built out a crypto niche.

I think the goal here is not completely shutting him down, but allowing him to go towards his interests without blowing everybody up.

If he actually used the term "sigma male," then that's another can of worms… and I don't have good guidance there.

  • Incoming Analyst in IB - Cov
Nov 11, 2021 - 5:35pm

Sometimes you gotta let them learn the hard way. He'll get a reality check once one of his shitcoins goes to 0.

Nov 11, 2021 - 5:41pm

This kid seems like an absolute dumbass virgin, I'd blow his brains out if he was related to me.

Tell him bitches find "mentors/gurus/crypto masters" cringey and he won't ever get any pussy even with money unless he breaks into PE MF from WYD/Oxbridge/LSE and gets a prestigious job. That should shut him the fuck up and get him to stop referring to himself as a sigma male.

Also 99% likelihood this post is a troll (because who the fuck unironically refers to themselves as a "sigma male" in the third person), but I'll play along.Β 

  • Intern in PE - Other
Nov 12, 2021 - 5:22pm

This is bottombuckethardo I guarantee you. He's made a new HF account with several troll posts recently. These r more subtle though. Ig he took my advice.

Nov 11, 2021 - 5:48pm

Failure will make him a better entrepreneur. The message you're trying to get across to him is bettered delivered with a real life experience he lives through than what he perceives to be your incredible opinion. Lions don't listen to sheep might be the mindset. Don't stand in the way of his lesson. Maybe he will be the lead character in Leonardo DiCaprio's next film.

VP
  • 3
Nov 11, 2021 - 11:46pm

Just let him fail. It'll happen. Be supportive when it does and help him pick up the pieces. If he keeps being an idiot just realize some people, even family, can't be helped.Β 

Array

Most Helpful
Nov 12, 2021 - 9:01am

I would stop trying to help. he doesn't want advice from you. just like an addict who doesn't want to stop using, you're fighting a losing battle. distance yourself from the nephew, maybe just tell your siblings/inlaws "hey, this guy is giving financial advice which falls under certain regulations, I'd be careful if I were you" and if they don't care, you can't do much.

if I were you, and I have friends in this bucket, I just say "good luck bro, I hope you get rich" and stop arguing. you have no upside by continuing to try to convince him of something when he's not asking for your advice.

NOW, if he does crash and burn and is still a prick, I would make him sweat, saying things like "remember that time you called me this and that? that stung, and I haven't really been in a mood to help you after that." sure you can help him eventually, but not until he wants to change/help himself

Nov 12, 2021 - 2:27pm

Yeah the kid is an insufferable douche, but I'm amazed at the shade being through at crypto and NFT money.Β 

I thought this was a forum for overachievers and alpha seekers? Y'all worried about where your fun money comes from all of a sudden?Β 

I genuinely enjoy my job which is why I haven't quit, but the crypto and NFT game straight up changed my life in terms of financial freedom and net worth.Β 

Highly recommend the jpeg and shitcoin game - all haters are clearly just jealous they don't know how to navigate it. Which is honestly not that hard once you learn, just like any other skill. We'll continue to enjoy our barrage of 5-50x plays and exponential increases in digital net worth, while you guys boast about your cash bonuses that are literally decreasing in value. Times are changing, stop thinking like boomers.Β 

Thanks for coming to my TED talk.Β 

  • Intern in IB-M&A
Nov 12, 2021 - 2:51pm

NOOOOOOOOOO YOU HAVE TO WAGESLAVE 100 HOURS PER WEEK WORKING ON EXCEL MODELS TO MAKE MONEY YOU CAN'T JUST RESELL JPEGS IT'S NOT FAIR

soy

Nov 12, 2021 - 3:22pm

There's probably little you can do to help, but here's an idea: set him up with a serious crypto investor to discuss his life goals.

The idea is to challenge him from someone he would respect. Whatever you think of crypto, there are serious investors in the field who have thoughtful answers about why they invest in the field (whether they are right is besides the point). They are likely to point him away from day trading memes coins to doing the real work of developing projects. They also might scare him a bit by telling him tales of the sharks that arb the crypto markets, and how he is the dumb money they take advantage of. They can also warn him of the financial / legal liability that he is risking by doing what he's doing giving financial advice. Even if they don't set him 100% straight, if they are able to orient him towards more productive activities (e.g., building crypto projects that may also build other skills, vs. day trading), he probably ends up in a much better position both financially and from a life prospects standpoint.

Hopefully finding this person is not too difficult if you are a hedge fund PM - there are lots of VCs going into the space, who are probably willing to spend 30 minutes with a teenager if you ask politely enough.

  • VP in IB-M&A
Nov 15, 2021 - 3:13pm

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