Comment on Forget billions of years: Researchers have grown diamonds in just 150 minutes

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ChocoboRocket@lemmy.world ⁨6⁩ ⁨months⁩ ago

Diamonds actually get their value because a single entity (DeBeers) owns something like 80% of all diamonds in the market.

They dictate the price by throttling supply and naming a price. People are willing to pay as a flex but you are right in that DeBeers markets “real” diamonds and “lab grown”.

It’s mostly done to capture different market segments, and to keep up the value of their stockpile of nearly unlimited diamonds already mined by people who are essentially slaves.

That being said, if there was a market for diamonds soaking in vials of oppressed orphan blood (with provenance of course) DeBeers would absolutely sell it.

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