🤖The First Company Destroyed by AI
Chegg Inc — an American online education platform built around helping students with homework – was once thriving.
🗓In 2021, its stock traded around $90, marking peak success.
🗓In 2022, ChatGPT arrived. Instead of paying $15–20 per month for Chegg, students could simply ask ChatGPT for free and get instant answers.
👇The result: Chegg’s stock collapsed from $90 to $0.99, losing 98% of its value.
Key takeaway: If a company’s only revenue source is access to information, and AI can provide that information for free, the company risks being wiped out from the market.
by 🏴Crypto Head
Chegg Inc — an American online education platform built around helping students with homework – was once thriving.
🗓In 2021, its stock traded around $90, marking peak success.
🗓In 2022, ChatGPT arrived. Instead of paying $15–20 per month for Chegg, students could simply ask ChatGPT for free and get instant answers.
👇The result: Chegg’s stock collapsed from $90 to $0.99, losing 98% of its value.
Key takeaway: If a company’s only revenue source is access to information, and AI can provide that information for free, the company risks being wiped out from the market.
I can also recast this into a Telegram‑style flash caption like:
“🤖 Chegg stock down 98% — first company destroyed by AI” — so your audience gets the instant takeaway. Would you like me to prepare that condensed version?
by 🏴Crypto Head