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Friday 09 October 2026 00:53:49 GMT

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2026-10-09 02:29:31

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De Beers spent decades selling one powerful idea. Diamonds were rare. Then technology started attacking that assumption. China has built thousands of machines capable of producing lab-grown diamonds, with some reportedly costing as little as $500. The result has been brutal for the traditional diamond market. Wholesale prices for lab-grown diamonds have reportedly fallen by around 96% since 2018. The economics changed. A stone that once depended on geological scarcity could now be produced in a controlled environment. And that put pressure on the business model behind natural diamonds. De Beers, the company that became synonymous with diamond scarcity, has faced a dramatic downturn in recent years. The company reportedly lost $6.8 billion as the diamond market deteriorated. Now comes the ultimate question. What happens to a business built around controlling scarcity when technology makes abundance possible? For decades, De Beers helped turn diamonds into one of the world's most powerful luxury commodities. Now lab-grown diamonds are challenging the very foundation that made the industry so profitable. The numbers tell the story. 10,000 machines. $500 production cost cited in reports. 96% wholesale price decline since 2018. $6.8B reported loss. A diamond cartel that once helped control a global market is now facing a completely different kind of threat. Not another mining company. Technology.

De Beers spent decades selling one powerful idea. Diamonds were rare. Then technology started attacking that assumption. China has built thousands of machines capable of producing lab-grown diamonds, with some reportedly costing as little as $500. The result has been brutal for the traditional diamond market. Wholesale prices for lab-grown diamonds have reportedly fallen by around 96% since 2018. The economics changed. A stone that once depended on geological scarcity could now be produced in a controlled environment. And that put pressure on the business model behind natural diamonds. De Beers, the company that became synonymous with diamond scarcity, has faced a dramatic downturn in recent years. The company reportedly lost $6.8 billion as the diamond market deteriorated. Now comes the ultimate question. What happens to a business built around controlling scarcity when technology makes abundance possible? For decades, De Beers helped turn diamonds into one of the world's most powerful luxury commodities. Now lab-grown diamonds are challenging the very foundation that made the industry so profitable. The numbers tell the story. 10,000 machines. $500 production cost cited in reports. 96% wholesale price decline since 2018. $6.8B reported loss. A diamond cartel that once helped control a global market is now facing a completely different kind of threat. Not another mining company. Technology.

#fyp

@Rodrigo Vincenzi Você acredita nisso ? #rodrigovincenzicy #reflexão #motivacion

@Rodrigo Vincenzi Você acredita nisso ? #rodrigovincenzicy #reflexão #motivacion

Getting better day by day ❤️‍🩹 #fyp #viral

Getting better day by day ❤️‍🩹 #fyp #viral

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