$Meta Platforms(META.US) Meta's Reality Labs budget has been slashed to the bone this time, and I feel it's a landmark event. Honestly, AI becoming the main theme was bound to happen sooner or later, but this cut is particularly brutal. After the metaverse narrative squeezed out the last bubbles, big tech couldn't resist switching directions. Now with Zuckerberg leading the charge in wielding the axe, Horizon Worlds and Quest will likely all face downsizing - layoffs might even be scheduled through 2026. Capital clearly only chases hot money, and AI is the new ATM this cycle while old stories get wiped out overnight. What worries me is we'll see a bunch of psychologically broken permabulls later, and there'll probably be another minor quake by year-end - market rhythms increasingly resemble the post-pandemic liquidity vacuum, who dares say they're completely unfazed... Speaking of gloom, VR investors from recent years have been on an emotional rollercoaster, waiting for winds that change with the sky 🤡