I am short Oracle because a short position is a bet that gravity still works. You can call what is happening to Ellison correlation risk, and a risk officer would. The older vocabulary has a better word. A man spent decades converting money into power and power into impunity, and the collateral under both is repricing at once. The bonds, the judge, the states, the rating, the price war — that much is one trade, and it is unwinding as one trade. The CBS collapse and the boycotts answer to no margin call; they are the same man making the same bet in a different arena, wagering that an audience can be bought the way a backlog can. Karma names the pattern rather than the mechanism — character meeting consequence, wherever the consequence chooses to book itself. The House of Ellison was assembled at the top of a circuit, out of paper, against collateral that reprices by the week. Karma is what a margin call feels like when you had it coming.