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Good. The diamond industry has destroyed multiple countries, one of which I lived in (Sierra Leone). Screw em.

by mbonnet 2y ago

olliej 2y ago
Also the only reason the prices of “natural” diamonds are high is because of intentionally constricted supply
- johnea 2y ago
  Seriously. De Beers has held as many diamonds in storage as the entire world supply, specifically to manipulate the "industry". Personally, the idea that everyone has to have one to get married is just stupid. Sadly, the meme generations have just reinforced these ritual practicies...
- sham1 2y ago
  This limits the supply, but we also must remember that the reason there's enough demand to justify the diamond industry to do this kind of shady stuff is due to marketing. I seriously doubt that diamonds, and especially natural diamonds, would be as popular as they are without the marketing, since the lab-grown ones are indistinguishable in all but price, if one wants one. Famously of course, marketing is responsible for the relative prevalence of diamond wedding and engagement rings. That they'd have to be worth N months' or years' salary? All marketing. And it has clearly worked, given how prevalent it is. And it has worked so well in fact, that this very idea has been embedded into wide parts of Western society.
  - leereeves 2y ago
    > I seriously doubt that diamonds, and especially natural diamonds, would be as popular as they are without the marketing, since the lab-grown ones are indistinguishable in all but price, if one wants one. Price is often the point. Diamonds are conspicuous wealth, an easy way to demonstrate "I'm better than you because my diamond is bigger/clearer/natural" for people who think like that.
    - chii 2y ago
      > iamonds are conspicuous wealth [veblen good](https://en.wikipedia.org/wiki/Veblen_good https://en.wikipedia.org/wiki/Veblen_good).
    - nullc 2y ago
      > Diamonds are conspicuous wealth, an easy way to demonstrate "I'm better than you because my diamond is bigger/clearer/natural" for people who think like that. But are they an easy way? A fake looks the same except under careful inspection and is totally lawful. Some fancy car or designer clothes are at least unlawful to fake, even if sometimes faked.

Good. The diamond industry has destroyed multiple countries, one of which I lived in (Sierra Leone). Screw em.

olliej 2y ago

Also the only reason the prices of “natural” diamonds are high is because of intentionally constricted supply

johnea 2y ago
Seriously. De Beers has held as many diamonds in storage as the entire world supply, specifically to manipulate the "industry". Personally, the idea that everyone has to have one to get married is just stupid. Sadly, the meme generations have just reinforced these ritual practicies...
sham1 2y ago
This limits the supply, but we also must remember that the reason there's enough demand to justify the diamond industry to do this kind of shady stuff is due to marketing. I seriously doubt that diamonds, and especially natural diamonds, would be as popular as they are without the marketing, since the lab-grown ones are indistinguishable in all but price, if one wants one. Famously of course, marketing is responsible for the relative prevalence of diamond wedding and engagement rings. That they'd have to be worth N months' or years' salary? All marketing. And it has clearly worked, given how prevalent it is. And it has worked so well in fact, that this very idea has been embedded into wide parts of Western society.
- leereeves 2y ago
  > I seriously doubt that diamonds, and especially natural diamonds, would be as popular as they are without the marketing, since the lab-grown ones are indistinguishable in all but price, if one wants one. Price is often the point. Diamonds are conspicuous wealth, an easy way to demonstrate "I'm better than you because my diamond is bigger/clearer/natural" for people who think like that.
  - chii 2y ago
    > iamonds are conspicuous wealth [veblen good](https://en.wikipedia.org/wiki/Veblen_good https://en.wikipedia.org/wiki/Veblen_good).
  - nullc 2y ago
    > Diamonds are conspicuous wealth, an easy way to demonstrate "I'm better than you because my diamond is bigger/clearer/natural" for people who think like that. But are they an easy way? A fake looks the same except under careful inspection and is totally lawful. Some fancy car or designer clothes are at least unlawful to fake, even if sometimes faked.