Flat World Partners

May 13, 2021

4 min read

(Lab-grown) Diamonds Are Everyone’s Best Friend; Let’s Talk Lab-grown Diamonds

About | Mission | Blog

Giving a promissory token for marriage is an idea that has existed in many different cultures and religions for centuries. It wasn’t until the 1940s that the diamond engagement ring was invented, thanks to a very successful ad campaign from jewelry giant, De Beers (sorry, men). Ever since, diamonds have surged in popularity. Not only are they seen as a status symbol and a representation of love, but they are also indestructible (amongst the hardest natural materials in the world), a good investment (smart way to invest safely long term) and quality controlled (expensive, but good determined value).

So, what’s the problem? Well, diamond sourcing is infamously shady. Hello Blood Diamond. Though natural diamonds enjoy a $64B retail market, the industry has been attacked for its practices, which include funding conflicts and exploiting workers, children, and local communities. Violence in diamond mines also remains an issue, stained by severe human rights abuses including forced labor, torture and murder. Finally, diamond mining has caused environmental devastation, destroying biodiversity in extract areas, and releasing extensive amounts of carbon emissions into the air from diamond exploration and mining.

A solution? Why not grow diamonds in the lab and reduce the environmental and ethical impact?

You heard right. A lab-grown diamond is exactly what it sounds like, which is a real, authentic diamond that is formed with scientists duplicating nature’s process above ground. A lab-grown diamond is technically just as real, made in pressurized ovens with the same clarity and brilliance as their earth-made counterparts. They can also be produced in weeks instead of the billions of years a natural diamond takes to form. Not to mention it’s a fraction of the cost.

From food to apparel, consumers are increasingly interested in how their products are sourced with the main concern being that workers are treated fairly and that goods are being produced with the least environmental impact possible. It seems only natural that this shift in consumer culture would make its way to diamonds.

Lauren Thurin, VP Business Development

Last week, Pandora, the world’s largest jeweler, essentially said lab-grown diamonds are forever, announcing plans to drop mined, natural diamonds from its stores. Instead, it will tock only lab-grown diamonds.

To anyone thinking about popping the question, take a serious look into lab-grown diamonds rather than just following the beaten path!

Not convinced the diamond industry is corrupt and harmful? Leonardo DiCaprio did a whole film on it. Watch it, here.

This newsletter is intended solely for informational purposes, and should not be construed as investment/trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any securities mentioned. Any reproduction or distribution of this document, in whole or in part, or the disclosure of its contents, without the prior written consent of Flat World Partners is prohibited

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