Via Gizmodo. Chegg, the company that offered a variety of online courses and homework cheats, rose to a fine Tech Tyrant peak of Holy Share Value during the Bush-Trump concentration camp. Investors are cheaters, so they love a cheating technology. Since then, the Tech Tyrants moved on to the superior cheating and stealing of AI, taking over the homework cheat market. Chegg’s Holy Share Value collapsed by 99%.
Schadenfreude is delicious. Admittedly Chegg wasn’t really competing in the college courseware market. It was seeking direct online customers, not specific courses assigned by specific profs. Still, it was aiming to take over the whole area, and now it’s collapsed. Nice bit of selfish crass satisfaction!
One techy stock adviser says that investors are starting to seek more stable companies, less susceptible to Altman’s all-consuming destruction. Pick the mouse who knows how to be a mouse, not the mouse who tries to be a cat. This isn’t exactly an analog moment, since investors will always turn back to idiocy. Only a super-FDR could restore real sanity by deleting the entire stock crime and all of its derivative branches.
Polistra's Mill 