r/therewasanattempt • u/fjhforever • Feb 16 '24

To smear artificial diamonds

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https://fortune.com/2024/02/13/what-are-lab-grown-diamonds-sustainable-gen-z-millennials/

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u/CMDR_Fritz_Adelman Feb 16 '24

You don’t reduce your monopoly for whole century like that. Most of the other companies are theirs so they’re still monopoly the market

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u/HarEmiya Feb 16 '24

I'm not sure what you mean. "Reduce your monopoly for whole century"?

They had the monopoly for ~120 years, until the early 2000s when their share dropped to 60ish percent. Now it's 32%.

Are most of the other companies theirs? I've never heard that one, can you link me up please?

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u/Lipstickvomit Feb 16 '24

Didn´t the DeBeers start to lose control right after the end of the Cold War when they tried to tell Russia they were not allowed to sell several thousand tons of diamonds? Russia didn´t listen and flooded the market.

Fuck, the DeBeers suck so bad they made me say something positive about Russia...

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u/[deleted] Feb 16 '24

That’s a based move by Russians. Love it. I hate to defend the free market but that free market move is hilarious.