How Chegg got into trouble for helping students cheat
A thread.👇(1/9)
Would you have a problem with a website that does the noble deed of providing students answers to textbook questions? (Only if you're the textbook company). (2/9)
We're talking about 'Chegg' that made cheating super convenient for students, and the textbook company Pearson that's now going after it. (3/9)
For starters, Chegg is an ed-tech company that provides textbook rental services, online tutoring, and (here’s the contentious bit) textbook solutions. Edtech was on a roll last year - Chegg’s revenue spiked 51%, taking its total subscribers to over 6.6 million. (4/9)
But how are these people really using Chegg?
Well, to be fair - there are many bona fide students who use the platform to learn stuff. But then there are a lot many students who leverage it to get the answers to exam questions. (Those who’ve done it may feel attacked.) (5/9)
So here’s the deal - Pearson, a textbook publishing company, is suing Chegg. It claims that Chegg is ‘selling’ answers to the questions contained in Pearson’s books & that’s just not fair - it violates copyrights. (6/9)
What does Chegg have to say about that, huh? Its saintly argument is basically, "We give students the entire explanation & workings of how you arrive at the answer... (7/9)
You don’t call that copying. We have a feature called the ‘Honour Shield’ through which unis can submit their test questions to us and we’d block those questions for some time." (8/9)
But you see the problem - universities don’t want to share question papers with a platform that essentially facilitates cheating.
Either way, cheating is now on the legal radar. So it’s probably time you got down to studying.
Let us know your thoughts (9/9)
Sources:
Legal Experts On Pearson V. Chegg And Why It Could Be A Huge Deal: Forbes
Pearson v. Chegg Challenges Lawfulness of Supplementary Educational Materials - Association of Research Libraries
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Ever since the Taliban came to power in Afghanistan, its economy hasn’t exactly been stellar. To make matters worse, the country now faces a major #cash crunch.
What’s behind this? (2/8)
For starters, the Afghani economy is highly “dollarized”: meaning that alongside Afghani (which is their currency), they use dollars for pretty much everything- from buying cola to buying homes.
In a Taliban-free world, shipments of US dollars would arrive in Afghanistan. (3/8)
How did Domino’s manage to capture ~70% of the #Indian pizza market?
A thread.🧵(1/9)
Well, to begin with, every fast-food chain entering India has to modify their menus as per Indian taste preferences and the pizza giant had to do it too. (2/9)
But what’s more, is that it even hyperlocalized its pizzas. In 2014, the chain launched a spicy raw banana pizza specifically for South India. For inspiration, the chefs go on regular ‘food walks’ through local markets.
(3/9)
Sri Lanka's forex reserves have dropped precipitously, from $7.5B in Nov '19 to just $2.8B in July.
And now a lot of people are worried about Sri Lanka's worsening economic crisis.
So what's the deal? 👇(1/9)
Sri Lanka’s problem seems to stem from the fact that the country is quickly running out of foreign exchange reserves — Things like gold, dollars, and other dollar-like assets.
But how did it get here? (2/9)
Well, Sri Lanka is what you call a “Frontier Economy” — it’s neither underdeveloped nor big enough to be branded an emerging economy. Countries like these are usually dependent on a few specialized sectors.
(3/9)
Some of the most unusual economic indicators you've probably never heard of- Part 2!
A thread👇 (1/11)
1.) The Bike Fatality Index - Evidence from the UK suggests that bike fatalities increase during recessions.
During periods of financial uncertainty, commuters avoid trains & cars in favor of bicycles.
More cyclists out on the roads raise the probability of mishaps. (2/11)
2.) Romance Novels Indicator - A bad economy can be heartbreaking. And what can be a good escape from heartbreak? A larger-than-life, cheesy romance novel! (3/11)
The brilliant psychological ploy #businesses use to trick YOU into overspending.
A thread.👇
A decade ago, behavioral economist Dan Ariely noticed something strange about the subscription option of the international weekly magazine, The Economist.
The options were: 1. Web-only subscription - $59. 2. Print-only subscription - $125. 3. Web + print subscription - $125.
Dan thought what you’re thinking right now - "why would anyone buy the print-only subscription?"
On conducting a #study among MIT students, he found out that 84% chose the web and print option while only 16% of the students chose the web-only option.