Nick Martell

Well, let's jump in T-boy style to the financials here, Jack. Such low prices for the best stone on earth, Walmart's diamond sales tripled last year because of it. Which leads to the wild news we noticed over the weekend. De Beers, the diamond giant, is shutting down their lab-grown diamond business.

Well, let's jump in T-boy style to the financials here, Jack. Such low prices for the best stone on earth, Walmart's diamond sales tripled last year because of it. Which leads to the wild news we noticed over the weekend. De Beers, the diamond giant, is shutting down their lab-grown diamond business.

Well, let's jump in T-boy style to the financials here, Jack. Such low prices for the best stone on earth, Walmart's diamond sales tripled last year because of it. Which leads to the wild news we noticed over the weekend. De Beers, the diamond giant, is shutting down their lab-grown diamond business.

Now, Jack, I'm going to need you to grab a rag and like dust off some context for us for that statement, please. De Beers is the world's biggest natural diamond provider. In fact, they historically had a monopoly on natural diamonds. They controlled all the mines. But interestingly, because they were afraid of being disrupted, De Beers launched a lab-grown business six years ago.

Now, Jack, I'm going to need you to grab a rag and like dust off some context for us for that statement, please. De Beers is the world's biggest natural diamond provider. In fact, they historically had a monopoly on natural diamonds. They controlled all the mines. But interestingly, because they were afraid of being disrupted, De Beers launched a lab-grown business six years ago.

Now, Jack, I'm going to need you to grab a rag and like dust off some context for us for that statement, please. De Beers is the world's biggest natural diamond provider. In fact, they historically had a monopoly on natural diamonds. They controlled all the mines. But interestingly, because they were afraid of being disrupted, De Beers launched a lab-grown business six years ago.

But today, with the flood of lab-grown diamonds in the market, dropping prices by 90%. Yeah, the margins, they were just too small for De Beers to make a profit on their lab-grown gems. So they're shutting down the lab-grown business and doubling down on natural diamonds. In fact, De Beers even tweaked their tagline to adjust for the new engagement economy.

But today, with the flood of lab-grown diamonds in the market, dropping prices by 90%. Yeah, the margins, they were just too small for De Beers to make a profit on their lab-grown gems. So they're shutting down the lab-grown business and doubling down on natural diamonds. In fact, De Beers even tweaked their tagline to adjust for the new engagement economy.

But today, with the flood of lab-grown diamonds in the market, dropping prices by 90%. Yeah, the margins, they were just too small for De Beers to make a profit on their lab-grown gems. So they're shutting down the lab-grown business and doubling down on natural diamonds. In fact, De Beers even tweaked their tagline to adjust for the new engagement economy.

For a hundred years, they said diamonds are forever, but now the tagline is forever present. Basically, Jack, it looks like they're marketing time as part of their value proposition. Both backwards time and forward-looking time. It honestly reminds us a lot of Hermes, because Hermes points out that their Birkin bags take 30 hours to make. The suggestion here is that time makes the product superior.

For a hundred years, they said diamonds are forever, but now the tagline is forever present. Basically, Jack, it looks like they're marketing time as part of their value proposition. Both backwards time and forward-looking time. It honestly reminds us a lot of Hermes, because Hermes points out that their Birkin bags take 30 hours to make. The suggestion here is that time makes the product superior.

For a hundred years, they said diamonds are forever, but now the tagline is forever present. Basically, Jack, it looks like they're marketing time as part of their value proposition. Both backwards time and forward-looking time. It honestly reminds us a lot of Hermes, because Hermes points out that their Birkin bags take 30 hours to make. The suggestion here is that time makes the product superior.

So Jack and I took a lot of time and we whipped up this takeaway. Jack, what's the takeaway for our buddies over in the diamond industry? De Beers created a monster, but that monster got out of its cage. Literally. Yeti's wild reveal Jack and I waited to share until the end. Guess who actually invented the lab-grown diamond? De Beers did. Yeah, De Beers.

So Jack and I took a lot of time and we whipped up this takeaway. Jack, what's the takeaway for our buddies over in the diamond industry? De Beers created a monster, but that monster got out of its cage. Literally. Yeti's wild reveal Jack and I waited to share until the end. Guess who actually invented the lab-grown diamond? De Beers did. Yeah, De Beers.

So Jack and I took a lot of time and we whipped up this takeaway. Jack, what's the takeaway for our buddies over in the diamond industry? De Beers created a monster, but that monster got out of its cage. Literally. Yeti's wild reveal Jack and I waited to share until the end. Guess who actually invented the lab-grown diamond? De Beers did. Yeah, De Beers.

In 1959, De Beers figured out how to make a diamond in a lab. Here's the plot twist. For 50 years, De Beers basically tried to keep that a secret in order to protect their high prices on natural diamonds. They didn't tell anyone about lab-grown diamonds because they wanted to protect their profit puppy, the $10,000 natural diamond. What Jack and I are saying here is De Beers is Kaiser Soze.

In 1959, De Beers figured out how to make a diamond in a lab. Here's the plot twist. For 50 years, De Beers basically tried to keep that a secret in order to protect their high prices on natural diamonds. They didn't tell anyone about lab-grown diamonds because they wanted to protect their profit puppy, the $10,000 natural diamond. What Jack and I are saying here is De Beers is Kaiser Soze.

In 1959, De Beers figured out how to make a diamond in a lab. Here's the plot twist. For 50 years, De Beers basically tried to keep that a secret in order to protect their high prices on natural diamonds. They didn't tell anyone about lab-grown diamonds because they wanted to protect their profit puppy, the $10,000 natural diamond. What Jack and I are saying here is De Beers is Kaiser Soze.

That's basically the moment we're in. They did it. They did it. They did it to themselves. De Beers, they only sold lab-grown diamonds for industrial purposes, like laser-cutting other diamonds. But eventually, some scientist figured out how to make a diamond in a lab and started selling them as jewelry. So De Beers finally caved just seven years ago and started selling lab-grown diamonds.

That's basically the moment we're in. They did it. They did it. They did it to themselves. De Beers, they only sold lab-grown diamonds for industrial purposes, like laser-cutting other diamonds. But eventually, some scientist figured out how to make a diamond in a lab and started selling them as jewelry. So De Beers finally caved just seven years ago and started selling lab-grown diamonds.