This took way longer than I hoped & expected... the DeBeers cartel in full damage control has really squeezed everything they could from it.

▲

xbmcuser 29 minutes ago | parent | next [-]

Debeers has been trying to sell their mines for years now unsuccessfully the public might not have known but the financial people did.

▲

fhn an hour ago | parent | prev | next [-]

so DeBeers just buys up all the labs that grow them and still have a monopoly. Lower the price competition appears and raise the price when competition goes bankrupt. Sort of like Amazon.

	▲	xbmcuser 24 minutes ago \| parent [-]
		The process to make diamonds is open to anyone and has a lot of industrial uses apart fron jewelry so not possible for Debeers to monopolize the market they can crash the prices but increasing prices won't be possible.

▲

newyankee an hour ago | parent | prev [-]

Honestly it seems like they knew this would happen, but they managed to really make the most of it. If anything it is an example of how important marketing is in influencing culture and choices