Chegg should be familiar to most people who have been to college in recent years.
Unfortunately, the launch of ChatGPT all but annihilated Cheggs business model.
Its unclear what Chegg can do to stem the bleeding at this point.
Chegg’s stock has cratered 99% since the launch of ChatGPT, and bond holders fear it won’t be able to continue paying its debts.Bloomberg / Getty
The company laid off 441 employees over the summer, a quarter of its workforce.
They will return answers that lookdeceptivelycorrect but arent.
Its like having a calculator thats right 50% of the time.
For subjects like history, chatbots are somewhat better, but answers should be double-checked.
Maybe Chegg could work harder to help people understand this?
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