Josh Baer: Great. Thanks.
Operator: Our next question comes from Ryan MacDonald with Needham & Company. Please proceed with your question.
Ryan MacDonald: Thanks for taking my questions. I’ll have two separate ones in this. On the first one is just a clarification, Dan, in terms of your commentary around retention rates and sort of the new accounts sign-ups improving. Should we expect then second quarter subscriber counts to sort of trough here in 2Q and start to see improvements as we go into the back half of the year? And then separately, just curious to get your thoughts. There were some research out, I think, Stanford and Berkeley, in mid-July about sort of potentially the maybe declining or lack of efficacy from GPT4 on math problems. And just wondering if you’re using that at all when you think about the additional rollout of Chegg of leaning into that math use case more and sort of the functionality you have with the math way to further differentiate yourself. Thanks.
Dan Rosensweig: Yes, good question. Let me take the second one first. One of the things about the college market that we’ve learned over the years is, it’s very viral in nature in terms of students communicate to one another. And I think that’s to our advantage. It was when we were building the company. And I think people got very excited about ChatGPT. And we are too by the way, and AI in terms of helping education. I mean if you’re going to apply AI to anything, how great would it be if it could help people with all backgrounds, all walks of lives, have the ability to elevate themselves both with academic support and skills-based support. I think we’d all root for that, and that’s what Chegg is building. And I think that’s why a lot of people are rooting for our success that would surprise you in terms of the people that have been calling to be interested in and to help.
So that message gets out on its own. And it takes one person getting the wrong information to destroy their semester, and so that happened pretty quickly. And I think we’re known for our accuracy. So there’s really nothing more to lead into it, because we’re great and getting better. To be honest with you, I think I forgot the first question, would you mind re-asking it?
Ryan MacDonald: Yes, It was around the commentary in one of the previous Q&A around retention rates and that you’re seeing sort of fewer cancellations and more subscribers that are up for renewal actually renewing. So as you think about sort of that dynamic, would we expect sort of second quarter subscriber count to be sort of the trough level here and you start to see growth in that metric as we get into the back half of this year?
Dan Rosensweig: I think, I’m sure Andy will add to this. From our perspective, I think we’re going to stick to the one quarter at a time like we mentioned earlier, because we’ve had false promises before in terms of what we see, and — but we — if current trends continue, and we’ll find out if current trends continue as the year goes on, then I think you’ll see a very different and a very positive trend that we’re all looking for and I’ll expect to happen. We do expect to return to growth. From our perspective, we think the launch of the new products will be very valuable to that. We think the fact that the Stanford Research that you pointed to also acknowledge is that it isn’t really good for what we do. And what we do is more valuable to students than what they do, which is writing papers, which we don’t do.
So we expect to be a growth company again. And — but when that happens, we’re just going to have to wait and see, but the trends are moving in the direction that we were hoping for.
