Don't you love it when unlicensed, uninsured hacks price themselves so low it hurts the market?

One of my previous employees, a 22 year old nice guy but not reliable, came by the office today to tell us how things are going since we let him go. It seems he's working for himself and covered up with work. He showed me a flyer. These were his prices:
replace a 2 story foyer fixture $75
dining rm chandelier $30
ceiling fan up to 12 ft $55
flood light replacement $20

I'm sure he's making a decent wage at these prices, but he's hurting the market. I could turn him in, but I got started in much the same way. I just hope his customers know the risk they take. I warned him of the risks he's taking.