In their latest episode of the VALUE: After Hours Podcast, Brewster, Taylor, and Carlisle discuss Which Industries Will ChatGPT Disrupt? Here’s an excerpt from the episode:
Bill: A short idea I saw on Twitter, somebody just threw it out and I think it’s pretty interesting to think on is Chegg. They’re basically like the cheat sheet for colleges. What does ChatGPT do to that business?
Tobias: I had shorted that thing when I was doing a little bit of shorting. I haven’t looked at it for a while. It’s short. It was pretty gnarly when I looked at it. A few of those things– [crosstalk]
Bill: That’s actually the type of thing that I could see ChatGPT not just disrupting but disposing of.
Tobias: Is that what Chegg is? Is it cheating?
Bill: More or less.
Tobias: I thought they were like–
Bill: It’s got all the answers and stuff. So, if you’re a college student, you pay and then you get the answers.
Tobias: I hadn’t quite understood that part.
Bill: [crosstalk] I’m sure there’s more– [crosstalk]
Jake: The real world’s all about– [crosstalk]
Bill: Pitch. But come on, how are people actually using it?
Jake: Isn’t that what you would want in a businessperson though, is find the cheapest way to find the answers? [laughs]
Tobias: I like the line about ChatGPT. Someone said, it’s like a newly minted MBA. It’s very, very confident and it’s often right, but there’s also lots of little mistakes in there.
Tobias: No disrespect to the newly minted MBAs.
Bill: Nah, plenty of disrespect–
Jake: Or CFAs, apparently. That’s a hot topic right now.
Tobias: Yeah. [crosstalk]
Bill: Why are you going at the CFA?
Jake: I don’t know.
Tobias: The exams are coming. Everybody’s studying for them.
Jake: Oh, okay. Has ChatGPT passed that one yet?
Tobias: That’s a good question actually, because the thing that makes it hard is it’s a closed book test, not that the questions are really that difficult, just that you have to memorize it all.
Bill: Yeah, I had to learn how to do it. I couldn’t memorize my way through that test, which is what I thought was benefit of the closed book. I had to learn how to think about the problems, not memorize.
Tobias: I just think memorizing formulas is a waste of time. I think that you got to know which formula to use, because you got to go so fast that you can’t be looking everything up. You couldn’t take in the six textbooks and look everything up as you went through it. You have to know what you’re looking for. And then, you’re just going to find where’s the bracket? That’s all I would have liked it for.
Bill: Yeah. I enjoyed the process a lot. I understand the merit of open book text. That’s how law school was.
Tobias: That’s live too.
Bill: Is that the law school was in Australia?
Tobias: Yeah. You can read notes.
Bill: Having notes, that’s a good way to test.
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