$1,000,000 Chess Match Challenge: Steigman vs Thiel

Chess blog for latest chess news and chess trivia (c) Alexandra Kosteniuk, 2012

Hi everyone,

Steigman

This chess news actually puts the sport in the big league - figuratively speaking! A.J. Steigman is the chief executive of Soletron, a social e-commerce platform. Peter Thiel is a legendary venture capitalist and co-founder of PayPal. Both are internationally ranked chess players.
In perhaps the oddest investment strategy ever seen, Steigman has challenged Thiel to a chess match.

“If I win, Peter would invest a million dollars at a pretty decent valuation,” Steigman told VentureBeat. “If I lose, I would give up a chunk of equity to Peter.”

Soletron’s social commerce platform is similar to Etsy — the company finds up-and-coming designers and artists and gives them a place in which to showcase and sell their products. The company already has angel investments from a number of prominent investors but is seeking a first round of venture capital.

Soletron’s curious investment strategy has its roots in the fact that both Steigman and Thiel have been chess masters for many years. Thiel is currently ranked 919 in the US; Steigman is 456, so perhaps he has an edge.

But win or lose, Steigman expects charity to be a big beneficiary.

“My goal is that the event will be sponsored, and that revenue will go to charity,” he said.

In addition, Steigman says he wants to show entrepreneurs that “unconventional tactics can work” when seeking funding for a company.

From Alexandra Kosteniuk's

www.chessblog.com

Also see her personal blog at

www.chessqueen.com

Special Chess Show - Karpov versus Seirawan in Saint Louis

Chess blog for latest chess news and chess trivia (c) Alexandra Kosteniuk, 2012

Hi everyone,

SAINT LOUIS, May 24, 2012 -- The Chess Club and Scholastic Center of Saint Louis is going to host former World Champion GM Anatoly Karpov in a special match against four-time U.S. Champion GM Yasser Seirawan. The two will face off June 9-13 in a unique competition that will test their classical chess skills along with their abilities at both blitz and rapid play.

Tourney Format:
Two Classical Games: 90 minutes for the first 40 moves followed by 30 minutes for the rest of the game with an addition of a 30-second increment per move starting from move one
 
Each Classical game is worth three points.
Two Rapid Games: 25 minutes plus a five-second increment
Each Rapid game is worth two points.
Ten Blitz Games: Five minutes plus a two-second increment
Each Blitz game is worth one point.
Prize Fund:
1st Place: $10,000
2nd Place: $7,000


The opening ceremony for the event will take place on June 9 at 6 p.m. Central and will feature a special book signing event for fans and spectators. Play begins on June 10 at 1 p.m. Central with the first round of classical chess. Visit www.saintlouischessclub.org/karpov-vs-seirawan for the full event schedule and more information.

The event will feature live commentary from GM Ben Finegold and WGM Jennifer Shahade. The Chess Club will be hosting a series of big events throughout the summer including the U.S. Junior Closed Championship, which will be held in Saint Louis July 10-16. 


From Alexandra Kosteniuk's
www.chessblog.com  
Also see her personal blog at
www.chessqueen.com

Top 5 Reasons Why You Can Never Give Up Chess!

Chess blog for latest chess news and chess trivia (c) Alexandra Kosteniuk, 2012


Hi everyone,


We found this nice article sent to us by Swakilki in our weekly ChessBlog haul of emails. We have the letter here. So, how many reasons work for you? Or, do you have your own reasons. Enjoy.


Hello Chess Queen,

I have been a great fan of yours and find your energy boundless. Your recent game at the Russian Team Chess Championship (chessqueen Russian TCh: Kosteniuk Avoided Kramnik's Way Preferring an Utter Extreme chess-news.ru/en/node/6959<-- I like risk, and I proved it!) had me on the edge of my seat all through. Awesome.

I write to you about the top-5 reasons (in no particular order) why I could never give up chess. 

• Chess is guaranteed to bring you out of your worst moods and depression any day, any time, and every time! You might lose a bit when you cannot focus, but even that helps lift your mood eventually. You escape into the beautiful world of the chessboard with no pain or worries.
• Chess is way better than sex. Okay, okay, it's been said and refuted and said again. But, I go with it. So many positions, so many people, so many ideas, and surely safer than sex!!! with the same high - win or lose. 
• Keeps you young forever. I am sure the legendary Korchnoi is a norm and not an exception. If the chess bug bites you, Life is Made. It's intensity will stay with you forever. Chess will never fail to excite you. Doesn't matter whether you reach grandmaster level or not. Chess will be your one loyal love forever.
• Chess is better than drugs, better than television, better than endless time on the Internet, totally natural activity with no strain on eyes, keeps you involved all day, and there is always someone whom you can teach it to without any side-effects.
• Chess Queen - As I said, the reasons are not listed in particular order. I will never give up chess because I like to go back to the Internet and check what's the latest thing Chess Queen Alexandra Kosteniuk has done. The latest chess project for children, charity, fun, modeling, or simply a killer game in a high-profile tournament. I could never give up chess thanks to you Chess Queen and am sure a whole lot of people would agree with me out there. You have done a lot to make chess exciting, sexy, enjoyable, and plain lovely. 

Best wishes,
Swakilki

If you have a chess letter for Chess Queen, don't forget to send it to us! :)

From Alexandra Kosteniuk's
www.chessblog.com
Also see her personal blog at
www.chessqueen.com