Chegg reported second quarter 2026 total net revenues of $51.8 million, a 51% year-over-year decrease. The learning and workforce skilling company posted a net loss of $3 million and adjusted EBITDA of $9.1 million. The company's Chegg Skilling segment generated $17.5 million in revenues, up 2% year-over-year. Gross margin stood at 55%, whilst non-GAAP gross margin reached 57%. Chegg plans to launch an employability platform combining its academic, skilling, and language learning services. The platform will automate job search and matching whilst providing coaching to help students secure internships and employment. For the third quarter, Chegg expects total net revenues between $43 million and $44 million, with adjusted EBITDA of $1 million to $2 million. The company repurchased $1.7 million in shares during the quarter.

AI is systematically dismantling business models built on gatekeeping information, with companies like Chegg serving as cautionary examples. The education platform, which once charged students monthly fees for homework answers, has seen its stock plummet nearly 99% from its 2021 peak, now trading around $1. In May 2023, former CEO Dan Rosensweig admitted ChatGPT was impacting customer growth, triggering an overnight 50% stock collapse. The pattern reveals a critical vulnerability: businesses offering raw knowledge without proprietary data or operational value face extinction. Companies surviving this shift help customers move from answers to action, particularly when leveraging unique datasets or relationships. Two factors determine survival: whether a business offers answers versus actionable solutions, and whether its output can be replicated by AI models at zero marginal cost.

Chau Nguyen wins Entrepreneur Of The Year 2026. The unmistakable journey of Chau Nguyen. Every now and then, a story hits the headlines that makes you take stock of what an unwavering entrepreneurial spirit can truly accomplish. Chau Nguyen, founder and CEO of Vintage Modern, Inc, just snagged the EY US Entrepreneur Of The Year(R) 2026 Southeast Award - a nod not only to his business triumphs but to his relentless ambition. From humble origins to new ventures. Nguyen isn't new to the entrepreneurial grind. Before crafting Vintage Modern into a luxury automotive innovator, he sold two tech ventures: Campus Special, which Chegg snapped up, and Hirewire, later acquired by Seasoned. But in 2018, he shifted gears - quite literally - with a vision to breathe modern functionality into classic luxury autos. This isn't just about restoring some old gas guzzlers and calling it a day. Vintage Modern handcrafts over 250 cars annually, blending sleek, timeless design with cutting-edge safety and technology. The result? A brand-new category in the automotive world, something Nguyen proudly coined the 'Modern Classic.' A disruptor in the high-end car scene. Talk about influence! Vintage Modern has more than 4 million enthusiasts globally. Imagine a clientele involving names like Mark Wahlberg or LeBron James, keeping this company in the fast lane to becoming a pretty formidable player on the luxury scene. That's some serious clout no slick marketing campaign could replicate overnight. The recognition, Nguyen says, "acknowledges a journey defined by resilience, discipline, and an unwavering belief that there is always a better way forward." What's next for Vintage Modern? With the Southeast Award in the bag, Nguyen now eyes the national stage, poised to compete in November's Entrepreneur Of The Year 2026 National Awards. It's not just another trophy. Bagging the national title means a shot at the EY World Entrepreneur Of The Year(TM) Award in May 2027 - a true coup in the entrepreneurial echelon. This isn't just about Nguyen riding high on a wave of already-celebrated CEOs like Reid Hoffman (LinkedIn) or Howard Schultz (Starbucks). This is an acknowledgement of his role as a bold leader who steps up to redefine industry standards when everyone else sticks to what's been tried and true. * Chau Nguyen, Vintage Modern * Mark Wahlberg * LeBron James * Ryan Reynolds * EY Entrepreneur Of The Year 2026 Judgment day from the award panel. Winning wasn't simple, either. An independent panel scrutinized long-term value creation, the ambitious entrepreneurial spirit, as well as the substantial growth and societal impact. They ultimately saw Nguyen's transformative vision as an indicator of positive industry change. With both national and international badges of honor poised within reach, Nguyen remains optimistic about Vintage Modern's continued influence - thinking even bigger and pushing the envelope where others might blink. Evolving the entrepreneurial landscape. Commemorating 41 years, the EY Entrepreneur Of The Year program steps beyond recognizing business leaders - it celebrates ingenuity and courage. From bootstrap beginnings to billion-dollar ventures, this award highlights entrepreneurial leadership that doesn't shy away from innovation. Nguyen's story is a testament: the embodiment of resilience flourishing under any bearing. Fuelled by his team's talent, Vintage Modern is shaping modern luxury cars. And judging by Nguyen's trailblazer instinct, the best chapters might well be unwritten.