Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Have You Ever Tried to Sell a Diamond? (1982)

theatlantic.com

Post reply on HN
Print view View original

121–130 of 239 posts

Re: Have You Ever Tried to Sell a Diamond? (1982)

#121

Post by cabalamat »

HorizonXP wrote: post #26

Wow, absolutely brilliant. I can't believe this article popped up on HN's front page tonight. I just got back from looking at engagement rings with my girlfriend. I've known about this monopoly for a while, and so has she. Heck, one of the first movies we watched together when we first started dating 7 years ago was Blood Diamond. Here's the conversation we had while in the jewellery store tonight. Me: "Sweety, I rea…

> De Beers has probably pulled off the greatest marketing stunt in the history of humanity. The fact that it's so ingrained in our minds, to the point where a smart, educated, and informed person like my girlfriend still wants a diamond even after knowing all the issues with them, is fascinating.

Does she still want the diamond after being shown the article? Most people don't like being manipulated.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#122

Post by gadders »

HorizonXP wrote: post #26

Wow, absolutely brilliant. I can't believe this article popped up on HN's front page tonight. I just got back from looking at engagement rings with my girlfriend. I've known about this monopoly for a while, and so has she. Heck, one of the first movies we watched together when we first started dating 7 years ago was Blood Diamond. Here's the conversation we had while in the jewellery store tonight. Me: "Sweety, I rea…

If it's not a diamond, not matter what you call it people are going to think QVC and Diamonique.

It's not rational, and these stones might be nicer, but they're not diamonds. Branding, there.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#123

Post by confluence »

jonnathanson wrote: post #18

It's a fascinating piece, for a number of reasons. The first, and perhaps most interesting, is that the story behind the De Beers cartel is well known . Perhaps not in this depth, but still, it's no secret. Pretty much everyone knows they exercise a monopoly on diamond production and distribution, artificially keeping prices high. And yet, nobody takes the red pill and opts out of the illusion. Call it the power of t…

Free markets always tend towards monopoly/oligopoly/cartel structures in the long term - because the firms that do so retain their pricing advantage (profits) and the firms that don't - die.

I have to think that the idea of free/natural markets has to be one of the greatest tricks ever pulled by anyone at any time (next to communism). Markets are artificial and restrictive for a reason - they're created by governments for the benefit of the populace - they are probably the most unnatural constructions ever created in human history (next to the corporation/government).

It is in the interests of market participants to maximise profits (to survive/grow). Efficient markets are the enemy of profits. Hence, market participants will make markets less efficient as a function of their incentives - if they can. It may seem more efficient in the short term - i.e. price wars - but in the long term - after the field is cleared - prices always rise in some form or another.

Free/natural markets are probably one of the greatest lies ever sold.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#124

Post by confluence »

Tichy wrote: post #119
confluence wrote: post #115

Earlier quoted context omitted.

If you lived in a society that killed/tortured atheists for not believing, it would be extremely rational to (assuming that you value your life over your advertised beliefs), at the very least, pretend that you believe in whatever bullshit people want you to believe.

Pretending to believe is not believing, though.

True. To the outside world it is equivalent though.

Furthermore - there's a saying that "believe in it long enough - and you'll think it's true". So you have to be careful with that - sometimes appearances become deceiving (what you show becomes what you are).

Re: Have You Ever Tried to Sell a Diamond? (1982)

#125

Post by jamesaguilar »

brazzy wrote: post #103
boyter wrote: post #47

Earlier quoted context omitted.

I actually had this argument as well recently. She however did agree with me and is now sporting a Sapphire engagement ring. It does have some diamonds on it but the main stone in Sapphire. She wanted it because she didn't want what everyone else had. Not sure how old you are, but I have also noticed this trend in Gen Y (friends like myself) starting to get colored gemstones. Of course this is totally anecdotal but m…

Sapphires are actually even more bizarre. They can be produced artifically, at perfect quality and any size, relatively cheaply. The only way to distinguish natural ones is by their impurities. The artificial ones are literally a superior product in every way, yet are considered "fake" and thus disgraceful to wear.

If one of my friends were to hold up a loupe to my wife's ring and say, let's see how much you paid for this, James, I would probably just save them the trouble and let them know they were dead to me already. That's the funny thing about this. You can't even tell with your bare eyes whether it is the real product or not (diamonds too). The only person who can know is the person buying it and anyone they tell.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#126

Post by brazzy »

Tichy wrote: post #98
mixmastamyk wrote: post #89

A classic, I read it first almost a decade ago. My advice, take her on a trip to Paris and Versailles instead... or climb Mount Everest if you're more adventurous. We have great memories.

Try not to get her killed, though. Hasn't climbing Mount Everest something like a 20% mortality rate?

According to Wikipedia there have been 4.3 fatalities for every 100 summits (generally decreasing over time), but that can't really be meaningfully expressed as a mortality rate because the fatalities include people who never reach the summit (and may not even have planned to). What can be said is that of those who successfully reach the summit, 1.1% die during the descent.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#128

Post by melvinmt »

HorizonXP wrote: post #26

Wow, absolutely brilliant. I can't believe this article popped up on HN's front page tonight. I just got back from looking at engagement rings with my girlfriend. I've known about this monopoly for a while, and so has she. Heck, one of the first movies we watched together when we first started dating 7 years ago was Blood Diamond. Here's the conversation we had while in the jewellery store tonight. Me: "Sweety, I rea…

> I can't believe this article popped up on HN's front page tonight.

This article was actually already posted somewhere in the comments a couple of days ago: http://news.ycombinator.com/item?id=4523063

Re: Have You Ever Tried to Sell a Diamond? (1982)

#129

Post by gnaffle »

Tichy wrote: post #108
brazzy wrote: post #105

Earlier quoted context omitted.

Look up Pascal's wager. Te postulates are debatable, but it's certainly a rational argument.

He doesn't really show that it is possible to believe something intentionally, though.

I think it's certainly possible to make an intentional decision to train/brainwash yourself into believing in something.

Re: Have You Ever Tried to Sell a Diamond? (1982)

#130

Post by andyjsong »

HorizonXP wrote: post #26

Wow, absolutely brilliant. I can't believe this article popped up on HN's front page tonight. I just got back from looking at engagement rings with my girlfriend. I've known about this monopoly for a while, and so has she. Heck, one of the first movies we watched together when we first started dating 7 years ago was Blood Diamond. Here's the conversation we had while in the jewellery store tonight. Me: "Sweety, I rea…

Here's my 2 cents on the start up industry, devs are still undervalued. I'm hearing a good dev can command $125k-$150k/year + the hope of an exit, I think that's cute. Lawyers with less value command salaries $250k to $500k.

What made De Beers and the diamond industry was with cartels and marketing. I think devs inherently lack both those features being independent thinkers and gasp introverted. Let's change that.

Post reply on HN