Hello, fellow Roe Capital, hope you're well. So we've got some big news today. Some huge layoffs

have been announced. In fact, the last one just came on the wire maybe an hour ago.

And I was totally shocked by this one. We'll get to that last. And then yesterday we got cut off because of the internet.

So I want to go over what's happening there with this most recent blowup in the subprime lending space. But first and foremost,

let's go over to the corporate layoffs that were just announced. So right here we've got meta,

and this is not the one that I was shocked by.

In fact,

this didn't surprise me at all.

Number one and two,

didn't surprise me at all.

Number three,

really surprised me.

So meta,

or what I keep calling Facebook,

it's Facebook.

You want to go with meta?

You can go with beta because Mark Zuckerberg.

He's trying to be more alpha recently, you know, going to the UFC and everything.

But at the end of the day, it's like, come on, dude.

You are the most beta human being on the planet Earth.

But anyway, getting back to the article here, beta lays off 600 from bloated AI unit.

Now, let's remember that AI and the AI bubble is propping up not only the S&P 500, but basically

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