National Student Clearinghouse, fall 2025 enrollment. The $23M is arithmetic, not a forecast.
08 / 13
What’s on the Test
Remember Chegg?
Students don’t.
Fortune · May 2023
Chegg’s shares tumbled nearly 50% after the edtech company said its customers are using ChatGPT instead of paying for its study tools
Market value at each year end and on Oct 2, 2026: StockAnalysis.com. Headline: Fortune, May 2, 2023.
09 / 13
What’s on the Test
Why now?
57%
of students use AI for coursework every week.
280×
cheaper to run GPT-3.5-level AI in two years.
$10M+
annual recurring revenue at Turbo AI, built by two 20-year-olds.
Lumina Foundation–Gallup, 3,801 US students, Oct 2025 (at least weekly). Stanford AI Index 2025 (Nov 2022 to Oct 2024). TechCrunch, Oct 2025 (“eight-figure”, self-reported).
10 / 13
What’s on the Test
Built by students. For students.
Andrew DeUgarte · CU Boulder
Vincent Mirisch · NYU
Alfie McLoughlin · UC Berkeley
Ben Sigman
[ADD: each person’s role, and who is full-time]
[ADD: team photo — office-team.jpeg]
[ADD: alfie-interview.jpg]
[ADD: rooftop-boxing.jpeg]
11 / 13
What’s on the Test
$50,000 for 10%
A $500,000 company, your money included.
Where it goes
$25k · Winning students
$10k · AI trials
$10k · Canvas & legal
$5k
[ADD: what $50,000 gets us to (paying students, monthly revenue, by when) and the terms]