AIBU to worry DS19 is chasing day trading and AI hype?

[smithypants]

My DS19 lives at home with us and has a couple of options. He has a Uni place for sept26, he is applying for degree apprentices and has a nice temp job with the local council until August. All nice and perfect!

He is really really sociable, always has been but he has recently had his head turned by a couple of his mates who day trade and appear to be making “lots of” money.

He has also been speaking to mentors via his old school about Claude and launching businesses on AI. He says none of our (his patent’s jobs) will exist in a few years, he doesn’t want the 9-5 slog and he thinks our lives suck.

I totally out of my depth with all this. I can relate to jobs, uni and apprenticeships. But I just don’t understand day trading which appears to be manosphere gambling and AI generated businesses.

We are in near constant conflict at home, he isn’t happy. We aren’t happy and I am torn between trying to readjust my view of supporting what is a good outcome for him and feeling like he just needs to massively grow up - it is really comfortable planning to make millions whilst your parents pay for the roof over your head etc.

Our greatest fear is that we have a man baby living with us forever. Any words of wisdom from people navigating this would be really welcome. Sorry so long.

Day trading is not gambling but it is very very difficult to make consistent regular money from it. To do it properly involves an enormous amount of intensive study over a long period of time and tremendous psychological discipline. If it was easy everybody would be millionaires.

I would be very suspicious of his "mates". There are no get rich quick schemes and they could well be trying to get him to pay for courses or mentors whereby they will gain affiliate commission.

No i think day trading is just another pyramid scheme type thing

These men's incomes is being supplemented in other ways. Like those on only fans claim to make lots of money

Tell him to follow uni or an apprenticeship, but not to be naive in following these men who are likely to be involved in something that crosses the line into criminality

Watch the new louis theroux doc on Netflix. Explains a lot of these types of trading.

Most amateur day traders will lose money, and potentially a lot of money. You're basically backing yourself to outperform professionals with a whole office and IT system supporting them. To give you some idea, trading firms locate their servers in Basildon where the LSE's trading system is, because those few milliseconds are enough to give them the edge. This is the context in which your son would need to be outperforming. Most promoted day trading schemes are scams or as near as dammit.

OTOH I think starting a business and using AI to help develop it is a good idea. He's right that a lot of jobs won't exist to the same extent within a few years. But he needs to be thinking about how to build a successful business over time, which will take hard work even if AI can help. He shouldn't be thinking of it as a "get rich quick" scheme.

We have a whole city of London with tech and highly trained mathematicians. I doubt a school leaver can find the magic solution they all miss

Yeah, I'd second this. I was amazed by how many of the influencers on there were promoting a lifestyle which seemed to be largely funded by the people they were promoting it to.

Thanks so much for the advice and validation that my suspicions were correct.

I think the crunch moment will come when he decides whether to take any of these degree offers. I will be poised to let him know that he needs to move out whatever choice he makes and start living independently.