Yeah, we've all done dumb stuff. But, in 1981, my car had 70hp and took a month to get to 160km/h. Yes, I had a high performance motorcycle, but I had been riding for many years off road and by then my Dad knew that I was skilled on two wheels. Kids take risks, and parents have to try to reduce the potential impact. Giving your 18 year old spoiled asshat kid access to a 500hp car is an attempt to become asshat-king-of-the-world.
Not knowing where your car is at 3:00am also says something. Yup, here ya go Josh, take the M5 and don't bother about where you're going or what you're doing with my 290km/h capable machine.
Yes, at 18 I was often out at 3:00am, but I didn't live at home anymore, paid my own way, and had my car parked 'cause I couldn't afford gas, insurance AND tuition.