The market for natural diamonds will cease to exist when you can buy lab-grown versions for a couple bucks.
They wanted to differentiate between natural and lab-grown versions with the former being much more expensive. But that train has left the station since there's little to no difference in quality between the two. In fact, I once predicted there'd be huge scams where lab-grown ones would be repackaged and sold as natural ones and that would ruin customers' trust in natural diamonds.
But it now seems that isn't going to happen because customers are voting with their feet and leaving natural diamonds behind.
> there's little to no difference in quality between the two
Lab grown can be way better quality. To me it was a no-brainer considering the ethical concerns, then add in the cost difference. The only argument I've heard for natural is "I like the imperfections". Sounds like brainwashing to me. They're chemically identical
I personally find lab grown much more beautiful, in that they’re an amazing accomplishment of mankind’s science and technology. So a tree got squeezed underground until it turned into a crystal? Cool, I guess, but big deal. Humans learned enough about how matter works to recreate those conditions at industrial scale? That’s amazing!
I’d much rather wear a monument to our cleverness than a dinosaur mashed under a rock.
My spouse lost the main stone on their ring. We were able to get another that was twice the size and WAAAY better clarity and quality for about half of the price of the first one.
It's astonishing that it has taken this long to have this kind of impact.
Well the privet to luxury was due to quartz watches taking their core business, and now Chinese superclones are in the early days of threatening their luxury business. At a certain point it’s hard to care about the residual difference.
Given the infamous conditions of diamond mining, to me that reads like “won’t someone think of the jobless slaves?” Someone no longer being forced to slave away in the mines is not exactly a great loss to workers rights.
“De Beers: Because the tears of children make it sparkle!”
I wonder if diamonds become cheap enough, and we are growing the crystal anyway, if we can introduce dopants and get interesting electrical properties.
The first person hedged their statement with "I heard once" so it's likely true regardless of whether the rest is accurate.
In a similar vein it has been said (by me, just now) that DeBeers is actually already out of diamonds and manufactures then de novo from the compressed ashes of orphans.
Brutal news for Botswana which was really breaking new ground in raising Sub Saharan living standards. 30% of their GDP and a huge portion of government revenues are diamond exports. And they had gotten to 100% formalized and child labor free supply lines
I'm not trying to read your comment as whataboutism, but it did get me wondering: From a moral or ethical standpoint, if there is a gradient route from "very immoral to moral", but it involves first going from "very immoral" to just plain old regular immoral - do we view it as an improvement or a deficiency? Is there a route that involves going from very immoral to moral in one direct step?
For example, exploitation is bad, but child exploitation is worse. So moving from just child exploitation to adult exploitation is a positive move that still results in an abhorrent status quo. On the other hand I can't think of an example where we went from child exploitation --> no exploitation of any kind...
Botswana's diamond mining industry is exactly one company: Debswana, a 50/50 joint venture between the government of Botswana and De Beers.
Which means, when you think about it, that half of one subsidiary of De Beers is effectively producing ~one third of Botswana's GDP. Really puts into perspective how exploitative De Beers is.
This is a difficult conclusion to draw given that the implied counterfactual is the assumption that Botswana could have had similar results sans De Beers. I don't think that's at all obvious. If my problem was that I had raw diamonds a few hundred meters underground and wanted to turn them into dollars, I'd probably call the preeminent experts on mining, refining, and marketing diamonds as well.
The venture began in 1969 and as difficult as the economic situation there is now, subsaharan africa was an even worse place then. So I think your counterfactual needs put into perspective. Additionally in 2013, the state created the 100% owned Okavango Diamond Company to export diamonds using the institutional knowledge they'd gathered over the decades.
Hopefully, the have foreseen this and they have diversified adequately. Relying on a single source for most of your income is never good. Whether that is diamonds or oil. Hopefully they got their own sovereign fund up and running/
Its not gonna be just diamonds, pretty much every gemstone is subject to the lab grown stuff.
Im into gem cutting as a hobby so its been great for me to find stuff like these cheap ruby roughs[1] but yea, its gonna fuck up anyone selling the natural stuff.
Yes. And there are a ton of companies that sell just loose stones, so you can take it to a locally owned shop for the ring and setting, thereby keeping more of the money in your own community.
How will we survive without the safe and wholesome diamond mines? I guess we'll all have to be okay with the much superior and cheaper lab diamonds...
The picture subtitle says everything that needs to be said about this: "Miners like De Beers have positioned diamonds as synonymous with love and devotion."
True, but it's also the case that in some places and subcultures we're already at a point where meat with certain qualifications in some contexts is a Veblen good, and the rhetoric around it is very much a quasi-mystical blend of notions of purity and vitalism (see e.g. paleo/primal/ancestral diet influencers). That edge, almost by definition, can't be produced in a lab, and if we were really being purely rational/utilitarian about these things, I doubt we'd be eating as much meat as we are today.
I love a good cheeseburger. I’ve enjoyed ones from Michelin restaurants and from local holes in the wall; I’m not choosy. To me, the taste and texture of a cheeseburger is one of the best testing things on the planet.
I do not eat cheeseburgers to feel manly or dominant. I eat them because they are delicious. If I could have a plant-based or otherwise non-meat burger that tastes as good as the real thing, I’d eat it. Beyond burgers are getting close and I’ve had my fair share of them, but they’re not there yet. They’re near enough that I’m confident we’ll get there soon.
why substantially cheaper? Break-even would be fine too, no? And as a plus, lab-grown meat is much more ethical.
I also think that replacing 'cheap' meat like ground beef would already be sufficient and would make a huge impact, there is really no need make it difficult for ourselves and try to replace rib-eye.
For me, it would have to be mass produced and about an order of magnitude cheaper.
I'd rather not be testing/tasting experimental lab stuff. And mass production bringing down the price with economies of scale is the real proof that the technology is ready.
The test of 'identical' to me is going to be mass production with economies of scale. I surely don't have the equipment to test whether it's identical, nor would I trust the marketing.
I don't think most people are going to grab lab grown out of the grocer fridge if normal beef is available for the same price. I know I would not. But if its 25% cheaper I'm happy to try it
Agree, as long as it's meat. Lab grown meat from cells is meat.
The reason impossible never worked was becuase it wasn't meat.
Very few people are going to trade meat for soy and vegetables
Yeah impossible was targeting a weird small niche.
The intersection of 'vegan by all means', 'loves the taste of meat', 'does not care about ultra processed food', 'enough money to go for the expensive option'.
Even though I do eat meat I still enjoy black bean burger patties far more than Impossible because a black bean patty is tasty in its own way and not trying to replicate meat.
A black bean patty or similar is a tasty bit of food that works well in a burger form.
I like meat but not every meal I eat needs to have meat in it. Give me tasty (and cheaper) alternatives to meat and I’ll eat them in place of meat sometimes.
IDK what "never worked" means here, the market cap for Impossible/Beyond alone is still over a billion dollars. You can still get an Impossible Whopper at any Burger King in the US.
There's plenty of issues with selling meat alternatives, I don't think you're the person to speak to them for some reason...
Hopefully most people here getting ribeyes aren’t getting them from the same factory farms that supply McDonald’s and sell other cheap kinds of beef. A ribeye is an occasional luxury and best bought from the farmer.
They wanted to differentiate between natural and lab-grown versions with the former being much more expensive. But that train has left the station since there's little to no difference in quality between the two. In fact, I once predicted there'd be huge scams where lab-grown ones would be repackaged and sold as natural ones and that would ruin customers' trust in natural diamonds.
But it now seems that isn't going to happen because customers are voting with their feet and leaving natural diamonds behind.
Lab grown can be way better quality. To me it was a no-brainer considering the ethical concerns, then add in the cost difference. The only argument I've heard for natural is "I like the imperfections". Sounds like brainwashing to me. They're chemically identical
The mining industry should die
I’d much rather wear a monument to our cleverness than a dinosaur mashed under a rock.
It's astonishing that it has taken this long to have this kind of impact.
Just like the luxury watches market ceased to exist when you could buy quartz watches for 10 bucks.
I'm not sure your analogy has teeth.
So wait, on this Labor Day weekend, it sounds like the WSJ is pro-worker, but only if they're in South Africa?
“De Beers: Because the tears of children make it sparkle!”
"South African diamond mines are closing due to lab-grown stones"
Since nobody wants to buy them anymore.
In a similar vein it has been said (by me, just now) that DeBeers is actually already out of diamonds and manufactures then de novo from the compressed ashes of orphans.
https://www.freedomunited.org/news/botswana-diamonds-ugly-tr...
Things like marital rape are still legal there.
For example, exploitation is bad, but child exploitation is worse. So moving from just child exploitation to adult exploitation is a positive move that still results in an abhorrent status quo. On the other hand I can't think of an example where we went from child exploitation --> no exploitation of any kind...
Which means, when you think about it, that half of one subsidiary of De Beers is effectively producing ~one third of Botswana's GDP. Really puts into perspective how exploitative De Beers is.
The venture began in 1969 and as difficult as the economic situation there is now, subsaharan africa was an even worse place then. So I think your counterfactual needs put into perspective. Additionally in 2013, the state created the 100% owned Okavango Diamond Company to export diamonds using the institutional knowledge they'd gathered over the decades.
Or is the theory here that De Beers somehow keeps the part of the Botswanian economy they don't participate in poor/unproductive?
Im into gem cutting as a hobby so its been great for me to find stuff like these cheap ruby roughs[1] but yea, its gonna fuck up anyone selling the natural stuff.
[1]https://www.etsy.com/listing/4443524661/lab-grown-red-ruby-s...
The picture subtitle says everything that needs to be said about this: "Miners like De Beers have positioned diamonds as synonymous with love and devotion."
Scumbags.
I do not eat cheeseburgers to feel manly or dominant. I eat them because they are delicious. If I could have a plant-based or otherwise non-meat burger that tastes as good as the real thing, I’d eat it. Beyond burgers are getting close and I’ve had my fair share of them, but they’re not there yet. They’re near enough that I’m confident we’ll get there soon.
why substantially cheaper? Break-even would be fine too, no? And as a plus, lab-grown meat is much more ethical.
I also think that replacing 'cheap' meat like ground beef would already be sufficient and would make a huge impact, there is really no need make it difficult for ourselves and try to replace rib-eye.
I'd rather not be testing/tasting experimental lab stuff. And mass production bringing down the price with economies of scale is the real proof that the technology is ready.
i'm no vegan, but if identical lab-grown alternatives are available at near same cost without the hormones, antibiotics, emissions, I'll take it
The test of 'identical' to me is going to be mass production with economies of scale. I surely don't have the equipment to test whether it's identical, nor would I trust the marketing.
The intersection of 'vegan by all means', 'loves the taste of meat', 'does not care about ultra processed food', 'enough money to go for the expensive option'.
No wonder it did not work.
A black bean patty or similar is a tasty bit of food that works well in a burger form.
I like meat but not every meal I eat needs to have meat in it. Give me tasty (and cheaper) alternatives to meat and I’ll eat them in place of meat sometimes.
There's plenty of issues with selling meat alternatives, I don't think you're the person to speak to them for some reason...
Impossible/Beyond barely exists in comparison
Perhaps you're anticipating this:
https://www.washingtontimes.com/news/2026/sep/4/trump-allows...
There are farmers everywhere who will sell you a cow. There are small butcher shops that will process it.
This is a solution in search of a problem, in my opinion. It will only benefit already massive corporation farms.