"The speed and scale of Google's AIO rollout, and student adoption of generative AI products, have negatively impacted our industry and our business," Schultz said. "It's our belief that the prevalence of AIO will only continue to increase, and that Google, in its attempt to maintain market share, is shifting from being a search origination point to the destination, disintermediating content sites like Chegg." Does that new, highly effective tech competition from giants like Google and OpenAI mean Chegg is a goner already? Could be. But given its previous success in seizing new opportunities to grow itself into what the Wall Street Journal recently called "an online education giant ," it would be unwise to count the company out just yet. Initially launched in 2000 by three Iowa State students as a mutual aid message board—taking its name from a "chicken" and "egg" mashup—the startup found a winning direction by recognizing the financial burden that overpriced textbooks had become for their peers.