Even better

zsh/oh-my-zsh/themes/laptop.zsh-theme

@@ -48,10 +48,15 @@ fi
 truncated_pwd() {
     local max_allowed_size=$(( `tput cols` - 30 ))
     local path_name=$(print -rD $PWD)
+    local new_path_name=""
     local truncated=0
     while [ ${#path_name} -gt $max_allowed_size ]; do
         truncated=1
-        path_name=`echo $path_name | cut -d '/' -f 2-`
+        new_path_name=`echo $path_name | cut -d '/' -f 2-`
+        if [[ "$new_path_name" == "$path_name" ]]; then
+            break
+        fi
+        path_name=$new_path_name
     done
     if [ $truncated -eq 1 ]; then
         echo "~/.../"$path_name