A 23-year-old raised $225 million, rode an AI thesis to a $25 billion peak, and then watched two-thirds of it vanish in a week. This is the story of how being right about the future isn't enough if you get the math of leverage and timing wrong — and why the market's oldest predators are always waiting for exactly this moment. It's a sharp look at genius, hubris, and the difference between having an edge and knowing how much to bet on it.