Tech-focused hedge funds lost 10.2% in July — (https://www.cnbc.com/2026/08/06/situational-awareness-wasnt-the-only-hedge-fund-that-had-a-bad-july.html) for the category. That's not a blip, that's a structural signal. When your best-funded money is getting crushed in your supposed alpha plays, the next shoe to drop is insider capitulation across leadership roles. Look at what's actually happening: Matthew Prince at $NET dumped $4.4M in shares on Aug 5.

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