Meet the first company officially wiped out by Ai Chegg was once a major player in online education, reaching a market value of around $14.5 billion in 2021 with millions of students paying for homework help, study tools, and learning resources. After ChatGPT launched in late 2022, many students started using free AI assistants for instant answers and explanations instead of relying on paid platforms like Chegg. In 2023, Chegg became one of the first publicly traded companies to openly state that generative AI was impacting its business, causing its stock price to drop sharply. The company attempted to adapt by introducing CheggMate, an AI learning assistant powered by GPT-4, but the rise of free AI tools and AI-powered search features continued to change how students accessed information. As subscriptions and revenue declined, Chegg went through layoffs and saw its market value fall dramatically from its peak. Chegg’s story has become a powerful example of how quickly generative...