Euphoria Season 3, Episode 3 delivered a beating to Nate Jacobs (Jacob Elordi), and it's largely due to a debt that changed his life forever. The third season of HBO Max's original drama series by Sam Levinson brought back the core characters from the first two seasons, and they all changed in more ways than one.
One of these characters is Nate, who appears to have matured in the show's five-year time jump, taking over his father's construction business and on the verge of marrying Cassie Howard (Sydney Sweeney). Nate, though, is having some money problems in Euphoria Season 3, which is amplified by the fact that Cassie wants an expensive wedding.
Why Nate Gets Beat up in Euphoria
Euphoria Season 3, Episode 3 revolved around Nate and Cassie's lavish wedding, but everything descended into chaos after a loan shark, Naz, crashed the event and publicly confronted Nate about his massive debts in front of the guests.
As it turned out, Nate owed thousands of dollars to Naz to keep his business afloat while saving face to attract investors. This led to him getting beaten up for failing to repay the money he borrowed to prop up his failing business and luxurious lifestyle.
Naz threatened Nate in front of Cassie, demanding his money back and declaring that he would be Nate's "worst nightmare" on his wedding day. Nate tried to downplay everything while Cassie was already freaking out over the debt that she didn't know about.
Following the ceremony, Naz and his henchman were waiting for Nate and Cassie. Nate was brutally beaten up, with him being dragged and pummelled throughout his mansion. Cassie tried to intervene but was thrown to the floor and broke her nose.
Nate suffered an extreme beating in Euphoria Season 3's final moments while Cassie cried in the background, hysterically complaining how her wedding night was ruined and how it was so "unfair" for her.
While Nate begged for mercy, crying out, "I have your money," Naz cut off his toe as a warning before telling Cassie, "Some women inherit wealth, you inherit debt." The episode ended on a grim note, with Nate's blood gushing on the floor and a traumatized Cassie.
There is a deeper meaning behind Nate being beaten up over his debt: it highlights his financial recklessness and the hollow facade of the successful man he desperately tried to project to Cassie and everyone else in his life.
Why Nate Owes Money Is Due to His Inflated Ego
While Euphoria Season 3 initially portrayed Nate as a mature, changed man, Episode 3 completely flipped the script, revealing that he had truly never gotten over his inflated ego. In fact, his life worsened, even though he had everything.
By taking over his father's construction business, Nate's deep-seated hatred for his dad prompted him to become the worst version of himself in the most reckless way possible. Nate attempted to outperform his father's legacy, and his ego led him to believe he was invincible, which is why he decided to take a risk and borrow money from dangerous men.
Nate's debts were not simply the result of bad financial decisions. Instead, it symbolized his inability to forge his own identity through honest effort.
Rather than working hard to build the successful life he envisioned for himself and Cassie, he chased an over-the-top goal and inherited a version of power and wealth modeled after his father (who is also a failure), only to watch that illusion collapse on what's supposed to be the best day of his life.
His inflated ego is also amplified by Cassie's full belief in him, as she never questioned how they became rich so quickly.
