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> I just saw a mention about how a homework help company called Chegg has had their stock drop 99% because everyone is just using ChatGPT. I don’t understand,
by rlt 2y ago
> I just saw a mention about how a homework help company called Chegg has had their stock drop 99% because everyone is just using ChatGPT.
I don’t understand, this seems like the opposite of an example of “hype” causing damage. These customers found a better/cheaper alternative.
- MBCook 2y agoA bunch of people are out of a job from a VC funded thing that may be gone in year for all we know. There are tons of business that probably went through this.
- gremlinsinc 2y agobusinesses don't exist to just give people jobs. If there's no value in the market, they should go out of business. That's how it works. This is going to happen to so many businesses and industries that a universal basic income will become a necessity if we don't want revolts.
- from-nibly 2y agoThe waste comes from everyone assuming that AI is a ticket to a successful company that does deserve to exist.
- MBCook 2y agoVCs don’t exist to destroy parts of the economy. There was value in the market. VCs destroyed it through dumping. And for all we know they’ll give up in a year and we’ll have nothing. No jobs and no existing solution.
- herval 2y agoOpenAI alone employs thousands of engineers _more_ than Chegg, and does a better job than it. Destroying old stuff is part of creating something new. "The economy" wasn't destroyed by a legacy company folding.
- kenjackson 2y agoExactly. Homework is one of the best areas for ChatGPT. My daughter uses it for French -- and while I'm sure its probably sometimes wrong (I actually don't speak French), it has helped my daughter to a 99% so far in her class. She considers it her own private tutor. It generates quizzes for her, explains not only what the answer is, but why she probably answered the way that she did -- the number of times my daughter has said, "Oh, now that makes sense!" has been plenty.