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Shaking Up the Diamond Industry

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11–20 of 130 posts

Re: Shaking Up the Diamond Industry

#11

I still wish I'd discovered Moissanite before I got married. The rock would have been multiples larger and I'd have the satisfaction of not contributing to a monopolistic and exploitative industry.

I was fortunate enough to discover moissanite. Wife loves it, and the price was somewhere in the ballpark of 90-95% cheaper than an equivalent size diamond. The added benefit is, everyone thinks it’s a diamond and we haven’t yet felt the need to correct them...

Re: Shaking Up the Diamond Industry

#12

The right way to shake this industry would be to obliterate it completely. Finding another useless piece of glass and selling it for $$$ is not shaking anything.

Society would have to work to convince people that status symbols are not worth pursuing. Unfortunately, based on my experience of how people’s brains work, that is quite an uphill battle.

> Society would have to work to convince people that status symbols are not worth pursuing.

On this note, a book recommendation: The Theory of the Leisure Class: An Economic Study of Institutions.

Thorsten Veblen, 1899.

More relevant now than ever. From Wikipedia, a short summary:

> a treatise on economics and a detailed, social critique of conspicuous consumption, as a function of social class and of consumerism, derived from the social stratification of people and the division of labour, which are social institutions of the feudal period that have continued to the modern era.

https://en.wikipedia.org/wiki/The_Theory_of_the_Leisure_Clas...

I believe he coined the phrase Conspicuous Consumption.

Re: Shaking Up the Diamond Industry

#13
post #3

My father was a diamond cutter (one of the folk who designed the modern “Portuguese cut” of the 70s) and he went through the evolution of diamond cutting from abrasion with copper disks (for cutting windows and facets) to laser cuts. I distinctly remember going into the (then state-owned) workshops as a kid and watching the cutters at work with their loupes, and how they kept tabs on stones by checking in and out of…

Also, a note on the humanitarian side of things, but not directly related to mining: When the Portuguese colonies seceded in the 70s, many people returned or emigrated to Portugal with nothing more than the clothes on their backs and "diamonds" they had exchanged their farms and real estate for.

I remember a few dinner conversations about how a few of them came to my father to assess the value of those stones, and most were chunks of quartz or other worthless crystals.

I think some of those conversations were really tough, and one of the reasons he disconnected from work as much as he could (his hobby was electronics, and one of the reasons I got into computers was that he brought a Sinclair ZX81 from London after years of putting together various kits, including a HeathKit oscilloscope).

So, in a way, diamonds are the reason I do what I do these days.

Re: Shaking Up the Diamond Industry

#15
post #5

We should crowdfund a PR campaign that diamonds are synonyms for death and exploitation, and it’s more humane for “any gem but a diamond”. A $10 million campaign or so, targeting youth especially, can have tremendous impacts on future generations.

For 10 million, we can manufacture lab grown diamonds using MWPCVD.

Re: Shaking Up the Diamond Industry

#17
Really cool history. Thanks for sharing this.

I can imagine if you "know the truth" about the business you're in you might want to get out. I felt like that about certain financial jobs I've had in the past. The actual work felt like it provided no real value to society, but the intellectual challenges were what kept me there.

Re: Shaking Up the Diamond Industry

#18

I still wish I'd discovered Moissanite before I got married. The rock would have been multiples larger and I'd have the satisfaction of not contributing to a monopolistic and exploitative industry.

I wish manufactured diamonds were more prevalent before I got married. There's still a slight look and feel difference between these things. I feel the diamond still looks slightly more sparkling in light. This is all subjective of course...

Re: Shaking Up the Diamond Industry

#19

The right way to shake this industry would be to obliterate it completely. Finding another useless piece of glass and selling it for $$$ is not shaking anything.

Society would have to work to convince people that status symbols are not worth pursuing. Unfortunately, based on my experience of how people’s brains work, that is quite an uphill battle.

People over here in Europe are not that hung up on diamonds. Not saying we don’t care about status symbols, because we most certainly do, just wanted to point out that it’s definetely doable to “eliminate” diamonds from the “status showing” game.

Re: Shaking Up the Diamond Industry

#20
post #5

We should crowdfund a PR campaign that diamonds are synonyms for death and exploitation, and it’s more humane for “any gem but a diamond”. A $10 million campaign or so, targeting youth especially, can have tremendous impacts on future generations.

Except the diamonds discussed in the article are from Botswana, where the article states "the firm paid the Botswanan government eighty-five million dollars in taxes, and nearly thirty million in royalties, on profits of about a hundred and eighty-five million." Seems pretty good deal for the Botswanans.

To be fair, paying the government in taxes and royalty does not mean that the diamond is not obtained through exploitation of the local population while the corrupt officials took the money (this sometimes happened in my country).

I don't really know about Botswana though, if those money actually go to the Botswanans then good for them.

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