Daily Ideas·Bearish·CHGG·2026年2月12日

The SaaSacre: Whose Moats are Still Intact?

Bullseye Picks
Substack

The article argues that AI is destroying the moats of many SaaS companies. Chegg is highlighted as a company whose business model of providing homework help is being completely disrupted by LLMs like ChatGPT, which can answer homework questions for free. The author suggests that Chegg's revenue is at high risk.

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