62 pointsby bookofjoe3 hours ago16 comments
  • tedchsan hour ago
    > Demand for engagement rings gave thousands of South Africans steady work at De Beers. Now, weak sales and lab-grown stones are taking it away.

    So wait, on this Labor Day weekend, it sounds like the WSJ is pro-worker, but only if they're in South Africa?

    • brookst23 minutes ago
      Nah, they’re pro-De Beers
    • delfinom23 minutes ago
      At least they aren't blaming millennials still.
  • wewewedxfgdf2 hours ago
    Shorter:

    "South African diamond mines are closing due to lab-grown stones"

  • davidhyde2 hours ago
    Oh shame. The poor devils.
  • missedthecuean hour ago
    Brutal news for Botswana which was really breaking new ground in raising Sub Saharan living standards. 30% of their GDP and a huge portion of government revenues are diamond exports. And they had gotten to 100% formalized and child labor free supply lines
    • hedoraan hour ago
      The did away with child slavery in the mines, but severely exploited female adults instead:

      https://www.freedomunited.org/news/botswana-diamonds-ugly-tr...

      Things like marital rape are still legal there.

    • bastawhiz26 minutes ago
      Botswana's diamond mining industry is exactly one company: Debswana, a 50/50 joint venture between the government of Botswana and De Beers.

      Which means, when you think about it, that half of one subsidiary of De Beers is effectively producing ~one third of Botswana's GDP. Really puts into perspective how exploitative De Beers is.

      • bsoqk24 minutes ago
        Or how worthless the human capital of Botswana is.
    • bossyTeacheran hour ago
      Hopefully, the have foreseen this and they have diversified adequately. Relying on a single source for most of your income is never good. Whether that is diamonds or oil. Hopefully they got their own sovereign fund up and running/
  • mlmonkeyan hour ago
    I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.
    • johnnyApplePRNG41 minutes ago
      It would probably last 1,000 years, now.

      Since nobody wants to buy them anymore.

    • senorriban hour ago
      That’s not even close to being true.
      • loloquwowndueoan hour ago
        You both need to provide citations my dudes.
        • margalabargala33 minutes ago
          The first person hedged their statement with "I heard once" so it's likely true regardless of whether the rest is accurate.

          In a similar vein it has been said (by me, just now) that DeBeers is actually already out of diamonds and manufactures then de novo from the compressed ashes of orphans.

          • loloquwowndueo14 minutes ago
            “I heard” = hearsay. Citation needed. (I mean, I heard the earth is flat - but it’s not)
  • glimshean hour ago
    How will we survive without the safe and wholesome diamond mines? I guess we'll all have to be okay with the much superior and cheaper lab diamonds...

    The picture subtitle says everything that needs to be said about this: "Miners like De Beers have positioned diamonds as synonymous with love and devotion."

    Scumbags.

  • jonstewart23 minutes ago
    So lab grown diamonds are good and cheap enough I can finally buy my wife of 21 years a diamond ring?
  • an hour ago
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  • AdmiralAsshat2 hours ago
    "Millennials are killing diamond mines!"
  • SoftTalker2 hours ago
    Good.
  • yogthosan hour ago
    uplifting news of the day right there
  • ggm2 hours ago
    "The death of the diamond" Edward Jay Epstein (1983)
  • 486sx33an hour ago
    [dead]
  • insamniac2 hours ago
    similar to the lab-grown intelligence impact
  • reid-rigo2 hours ago
    Hope to see these headlines some day for the meat industry
    • SoftTalker2 hours ago
      If we can replace the taste, appearance, and texture of a medium-rare rib eye with lab grown meat at a substantially cheaper price, we will.
      • TomJansenan hour ago
        >substantially cheaper price

        why substantially cheaper? Break-even would be fine too, no? And as a plus, lab-grown meat is much more ethical.

        I also think that replacing 'cheap' meat like ground beef would already be sufficient and would make a huge impact, there is really no need make it difficult for ourselves and try to replace rib-eye.

        • fookeran hour ago
          For me, it would have to be mass produced and about an order of magnitude cheaper.

          I'd rather not be testing/tasting experimental lab stuff. And mass production bringing down the price with economies of scale is the real proof that the technology is ready.

        • skeledrew27 minutes ago
          Maybe there's something about lives being taken to provide the food that appeals to certain people.
        • wonderwonderan hour ago
          I don't think most people are going to grab lab grown out of the grocer fridge if normal beef is available for the same price. I know I would not. But if its 25% cheaper I'm happy to try it
          • loloquwowndueo44 minutes ago
            I would for the same price as it doesn’t involve killing a cow. That’s a plus for me!
      • wonderwonderan hour ago
        Agree, as long as it's meat. Lab grown meat from cells is meat. The reason impossible never worked was becuase it wasn't meat. Very few people are going to trade meat for soy and vegetables
        • nkrisca minute ago
          Even though I do eat meat I still enjoy black bean burger patties far more than Impossible because a black bean patty is tasty in its own way and not trying to replicate meat.

          A black bean patty or similar is a tasty bit of food that works well in a burger form.

          I like meat but not every meal I eat needs to have meat in it. Give me tasty (and cheaper) alternatives to meat and I’ll eat them in place of meat sometimes.

        • fooker43 minutes ago
          Yeah impossible was targeting a weird small niche.

          The intersection of 'vegan by all means', 'loves the taste of meat', 'does not care about ultra processed food', 'enough money to go for the expensive option'.

          No wonder it did not work.

        • moate41 minutes ago
          IDK what "never worked" means here, the market cap for Impossible/Beyond alone is still over a billion dollars. You can still get an Impossible Whopper at any Burger King in the US.

          There's plenty of issues with selling meat alternatives, I don't think you're the person to speak to them for some reason...

          • bluefirebrand5 minutes ago
            According to Google AI "The global beef industry has a total market value of approximately $465 billion to $526 billion"

            Impossible/Beyond barely exists in comparison

      • hedoraan hour ago
        Modern beef is unhealthy for humans due to grazing conditions. Maybe the lab grown stuff will be closer to conventional farming output.