Consumer Internet: Commerce, Mobility & Media

Own digital platforms whose core businesses serve consumer shopping, transportation, entertainment and banking rather than selling AI infrastructure. The technology drawdown creates an opportunity to distinguish established consumer franchises from capital-intensive compute suppliers. Monetization depends on consumer activity and retention, while weaker household spending and intense competition remain the central risks. Launch basket (equal weight): BKNG, UBER, NFLX, SHOP, NU, MELI, SPOT, SE Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.