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> First, diamonds are not fucking rare. True, but jewel-grade diamonds are rare. Likewise, run-of-the-mill executive talent isn't rare... but top quality talen

by jquery 13y ago

> First, diamonds are not fucking rare. True, but jewel-grade diamonds are rare. Likewise, run-of-the-mill executive talent isn't rare... but top quality talent is.

ForHackernews 13y ago
"The difference is that the world diamond market is largely controlled by a single private enterprise, the South Africa-based De Beers cartel. The geniuses behind De Beers recognized early on that a stable, profitable diamond industry depended on controlling both supply and demand. De Beers rarely discovers new sources of diamonds; rather, it focuses on controlling existing ones, limiting production, and if necessary buying up surplus gems and stockpiling them to prop up the market. It sets prices arbitrarily and cuts off supplies to dealers who buy through unauthorized channels. On the marketing side, De Beers hired advertising firms, starting with N.W. Ayer in the late 1930s, to render axiomatic the idea that diamonds = true love." http://www.straightdope.com/columns/read/2524/is-a-diamonds-price-a-true-measure-of-its-value http://www.straightdope.com/columns/read/2524/is-a-diamonds-... http://www.barnesandnoble.com/w/the-rise-and-fall-of-diamonds-edward-jay-epstein/1013550616?ean=2940012796721 http://www.barnesandnoble.com/w/the-rise-and-fall-of-diamond...
- jquery 13y ago
  De Beers is no longer a monopoly and controls roughly 50% of the market: http://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly http://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly > On the marketing side, De Beers hired advertising firms, starting with N.W. Ayer in the late 1930s, to render axiomatic the idea that diamonds = true love." Irrelevant to anyone except history buffs. Want to learn how Christmas started?
Florin_Andrei 13y ago
For every Elon Musk out there, there's a thousand smooth talkers who are exceptional only at projecting an image.

by jquery 13y ago

> First, diamonds are not fucking rare. True, but jewel-grade diamonds are rare. Likewise, run-of-the-mill executive talent isn't rare... but top quality talent is.

ForHackernews 13y ago

"The difference is that the world diamond market is largely controlled by a single private enterprise, the South Africa-based De Beers cartel. The geniuses behind De Beers recognized early on that a stable, profitable diamond industry depended on controlling both supply and demand. De Beers rarely discovers new sources of diamonds; rather, it focuses on controlling existing ones, limiting production, and if necessary buying up surplus gems and stockpiling them to prop up the market. It sets prices arbitrarily and cuts off supplies to dealers who buy through unauthorized channels. On the marketing side, De Beers hired advertising firms, starting with N.W. Ayer in the late 1930s, to render axiomatic the idea that diamonds = true love." http://www.straightdope.com/columns/read/2524/is-a-diamonds-price-a-true-measure-of-its-value http://www.straightdope.com/columns/read/2524/is-a-diamonds-... http://www.barnesandnoble.com/w/the-rise-and-fall-of-diamonds-edward-jay-epstein/1013550616?ean=2940012796721 http://www.barnesandnoble.com/w/the-rise-and-fall-of-diamond...

jquery 13y ago
De Beers is no longer a monopoly and controls roughly 50% of the market: http://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly http://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly > On the marketing side, De Beers hired advertising firms, starting with N.W. Ayer in the late 1930s, to render axiomatic the idea that diamonds = true love." Irrelevant to anyone except history buffs. Want to learn how Christmas started?

Florin_Andrei 13y ago

For every Elon Musk out there, there's a thousand smooth talkers who are exceptional only at projecting an image.