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Will Chess.com go out of business soon? Just wondering.
I lost half of my family income over the past two years as my wife lost her job, and then her unemployment benefits ran out. All luxuries have ended for us, like my diamond membership to chess.com.
How many more people around the world will drop their premium chess.com memberships (Gold, Platinum, and Diamond) by the end of 2012, to afford a few Christmas presents under the tree for our children? How much will this hurt chess.com financially. The kids who run this wonderful site are sadly doing business in what many call the new normal, where higher unemployment of 10% or higher is normal. Too many young adults in their 20’s, including my three oldest, can’t find work in California, and they went to college!
When I graduated from college back in 1982, jobs literally fell in my lap. Principals would call me on the phone, asking if I would be their band director. I never had to go looking for a job, and I have worked for three different school districts, and never had to bother looking. They went looking for me.
Now, my wife can’t find work as a school teacher in California, and students that I taught in elementary school bands, who then went on to earn teaching degrees, can’t find a teaching job in California. They are earning far less as substitute teachers with NO Medical/Dental Benefits.
What did us old timers do wrong (me included) to so completely screw up the job market for our children! A 16 trillion dollar national debt (US) can not be paid off in a few years. We will be in this mess (new normal) for decades. And what hurts America, hurts other countries. California is not in a recession, but a depression, when you factor in all of the people who quit looking for work, those who have run out of unemployment benefits, and those who are working fewer hours for less pay.
By the time we get out of this recession/depression, IF we ever get out of it, the kids running chess.com will be old men and women.
A few gloomy headlines for today, October 3, 2012.
Global slowdown 'becoming a genuine possibility,' as Europe, China decelerate further. The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter. – NBC
Tesco sees half-year profits fall, The UK's biggest retailer, Tesco, reports its first fall in profits since 1994. – BBC
Iran clashes over currency crisis, Riot police in Iran break up protests in the capital, after sharp falls in its currency, the rial, which has plummeted against the US dollar. – BBC
Another Weak Jobs Report Coming This Week? The economy is this week is likely to be dominated by Friday’s September jobs report from the Labor Department. The August survey was dismal, with just 96,000 jobs added by employers. Some economists are looking for improvement in September, but the latest forecast from the Business Roundtable is gloomy. – ABC
Some EU banks skirt capital rules using loopholes. Some European banks are using questionable assets and loopholes to claim they have met capital target requirements, according to a report from the Bank of International Settlements. This means many of these financial institutions may not be as secure as they report they are. – CBS
Soaring costs 'will leave families £200 worse off’ . Families will see modest pay rises wiped out by sharp increases in energy bills, mortgages and petrol costs, one of the country’s biggest investment banks has warned. – The Telegraph
Cities in California have filed for bankruptcy, including San Bernardino and Stockton. Many local governments across the U.S. face steep budget deficits as they struggle to pay off debts accumulated over years. As a last resort, some have filed for bankruptcy. Number of Bankruptcy Filings Since 2010 = 28 – Governing Data
Your happy news for today.
Meh, the poorest in the UK still spend the same amount as a years diamond membership in 2 months on a phone contract or on funding their smoking habit.
Maybe people have other priorities, but I don't buy that people can't afford it, and they seem to have survived the few years since the economic crisis started so what makes you think they are in more danger now?
Pull up the active members list and start paging through it. Plenty of folks with premium memberships out there still. And they'll keep at it so long as chess.com stays up with producing good content.
$100 once a year is easy enough to come up with if you really want to. Heck, go out and mow a couple of your neighbor's yards one weekend like my kids do and you'll have the money for a diamond membership for the next year.
Ads r always a back up to earn money.
Simply because the economic crisis will only get worse, before it gets better, IF it gets beeter. I see that after this crisis, we will enter a new normal, where middle class wages are smaller.
Sure hope not...been to plenty of other chess sites with memberships and in my opinion, by far, this site has the best content and online/live play!
Chess.com has over 5 million members. Is the list of Diamond members a public document? How many diamond members are there, and has that number increased, or decreased.
To all who read this topic, please understand that I am not complaining about the Diamond membership fee of $99.00. You get a lot of excellent content for a low price.
I just don't have a hundred bucks right now, and perhaps an increasing number of people around the globe have seen their disposable income fall. It is definitely like that in California.
Far as I can tell chess.com seems to have expanded not contracted its operations over these recession years.
As Ironknight suggests, click on the ads. It will generate more income for Chess.com than the few quid you pay for diamond membership. I'm a cheapskate as well with three kids but I like the firms that advertise here to finance the site. Keep clicking on their harmless banners.
As a chess teacher in NYC, I will say this:
Chess is growing each year. Every year. The number of afterschool programs keeps growing with no end in sight.
There might be a small hit in the amount of students who take private lessons, but there are always enough out there.
From my perspective, chess is a great field to be in with a poor economy. My income increases every year, no matter the state of the economy.
Musikamole, you asked what your generation did so wrong to screw up the economy. The answer is the welfare state. The only way to restore the economy to its former glory is to cut off social spending at the knees and let a few million useless eaters die off.
I hope this is just bad sense of humour...
The 1% will keep them afloat.
It's what some people believe.
Lets forget that the French welfare state is a lot more generous than the US one and they are in far less trouble.
It's obviously about division of wealth and financial control.
I dont think Chess.com go out of business..... I agree with AlCzervik....the 1% or 2 or 3 will keep them afloat
Entertainment is the place to be. Look at the spending on consoles and games. Look at Disneyland. Look at tourism.
And a worldwide market can't hurt. China and India are heading towards affluence. Lots of potential growth there.
Definitely wont go out of business. Chess.com is international with many GMs, FMs, IMs etc...
And many people willing to pay to either increase knowledge or learn chess.
i hope not
If the world ends on December 21, 2012, perhaps a month to month plan makes sense. Although, I agree with those that think the Mayan's just got tired of calendar making at that point.