De Beers Has Run Out of Monopoly Power: Angara Founder

The reason Anglo America is trying to spin off diamonds giant De Beers is a combination of them losing their monopoly power while the economics of their business have also become much more difficult, says Angara founder Ankur Daga. He speaks on "Bloomberg Markets."
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[@aroundandround]

Glad the diamond mining industry is on decline.

[@RupertJosh]

Karma!!

[@Khatamoga]

De Beers may it close, it has caused a lot of pain in Africa.

[@Mady-lo6qb]

I'm quite sure it will cause more pain as all those people will be out of a job.

[@Khatamoga]

@Mady-lo6qb we will create new ones , dependency is weak trait that needs to leave Africa

[@TheBooban]

"The vendor will disclose if it's a Russian diamond." - Ha. Ha. Hahahahahha!

[@ericp1139]

Homie wanted to change the subject real quick.

[@IO-zz2xy]

Someone I met quite a few years ago worked at De Beers in Johannesburg. He said there were diamond piles that if they were all mixed together into one heap, would be the size of a small car in their stock safes. The market was always kept short to keep prices artificially high. Good to see that the prices have plunged. A diamond worth $25 thousand now going for $2 500. Damn, Yip, does my heart good. Regards from South Africa

[@PascalH9191]

Diamonds have never been rare!

[@serebii666]

In the sense that the carbon that makes them up no, they weren't. But as stones of any significant carat size as well as their accessibility and labour to facet them, diamonds were indeed rare historically.

[@okwatever3582]

Indeed, De beers is just monopolizing the supply of diamond and limiting the annual supply to the biggest buyers. Now, they are not the only suppliers, they lost the control to the market dominance.

[@Jose04537]

Funny how jewelry sellers NOW are claiming flawed diamonds are special, when flawless was the standards just a few years ago.

[@jarredschwandner4115]

Wow that guy was incredibly insightful one of the best market/business interviews I've ever seen. Thanks

[@mkhanman12345]

Who are you

[@Danimarcapital]

Can you make lab grown Rhino horns? That would really help us with wild life conservation!

[@rawrss]

Amen! And Ivory too, protect Rhinos and Elephants.

[@wenerjy]

You can actually, I think there are a few biotech startups working on it.

[@xcel5203]

What about brains ? That would be tops !

[@user-ml1rm2fh6f]

3D printing?

[@EvonneLindiwe]

Diamonds are so common.. the best marketers in history are De Beers

[@xcel5203]

Diamonds are for fools really ! And terribly dirty too with their provenance .

[@PositionTheory]

Super interesting segment. This was a great interview from both sides.

[@zapfanzapfan]

Very interesting, I clearly have not followed the diamond trends for a long while.

[@MarkT1700]

Great. All gemstones should be lab grown. Mining gemstones should be illegal.

[@Jose04537]

And nothing of intrinsic value was lost.

[@user-ml1rm2fh6f]

De Beers has a ship that works almost all year round dredging ocean floor for diamond.

[@jamesspent7101]

A lab grown diamond is a clone of a real diamond. The fact that i would buy one doesn't change the fact that it's not thee original diamond.

[@markkaasha2111]

It's still a diamond...difference is the similarity ie the process of formation is natural the other is artificial (industries replicate the same conditions as in natural process to produce the diamond)

[@SamSam-qm1li]

Good, I'm glad diamonds are going down in price

[@kafeleboothe]

I still don't understand why they havent started marketing them as "ethical diamonds" vs "mined diamonds"

[@DistrustHumanz]

2:01 'and thats where you have to trust the jeweler'... good luck with that.

[@RatTerminator]

So will prices come down?!

[@har8397]

We saw this in twilight zone: the rip van winkle caper

[@bhuvan1993]

Now i want lab grown Gold

[@Mady-lo6qb]

So far, you need a nuclear reactor or a particle accelerator to make a few fragments - so too pricey right now.

[@seeriktus]

Technically possible with proton/neutron bombardment but cost is way too unfeasibly expensive. It would be cheaper to haul an asteroid back to earth.

[@tsheposeeletso6475]

The rich will always want natural diamonds due to the value as opposed to optics

[@borat3746]

There is no value on diamonds. It's a hoax, figure out, they are no scarce, they can be man made unlike gold

[@doordaashclass2631]

The value is in decline as described in this video

[@Jose04537]

"It's not the same without the suffering of the slaves"

[@DrMwenya]

They still getting them from all kinds of shady places via Antwerp .

[@kristianmorris9738]

Same thing happened to pearls.

[@okwatever3582]

carbon: finally, some sense. I can be graphite; I can be diamond. just a matter of process that makes a difference.

[@manjubala1789]

I’m all about presales, and Revux tops my list. Early investment is key!

[@youngandrestlessjean3634]

A Lab grown diamond is basically a complex 3d printed object. What makes a 💎 diamond worth money is its rarity, size, and how hard it was to retrieve it from the Earth. Private jewelers will want the buyer to invest in a real diamond piece. Lab grown is ethically sound but not worth the exorbitant prices at all.

[@HarukiYamamoto]

Lol

[@rho992]

Absolutely not... Lab grown diamond are indistinguishable from mined diamonds, because IT IS A DIAMOND not fake diamond.

[@spookyman18]

I want whatever you are smoking. Diamonds were never rare to start with. Now they are just very abundant with lab grown.

[@Parthoo]

Hahahaha good one.

[@ramkumarKumar-di3hg]

My picks for the bull run: ADA, AVAX, SOL. Best presale? Revux, no doubt.

[@user-ml1rm2fh6f]

Just like cultured pearl does to natural pearl market.

[@tanvirtanvir9348]

Diamonds are forever😂😂😂😂

[@mogulmayhem]

I'm a single dude and I just watched this entire segment.

[@serebii666]

And? Do you want a cookie?

[@mogulmayhem]

Bababooey

[@RatTerminator]

I always thought Diamonds were worth very little

[@PascalH9191]

I knew about lab grown diamonds since the late 1990s

[@waisinglee1509]

You must have read the same National Geographic issues that I did. LOL!!!

[@PascalH9191]

@@waisinglee1509I think so, hell I was a 6 or 7 year old

[@waisinglee1509]

@@PascalH9191 Haha

[@stevep9041]

They can’t replicate gold or silver. They can surpress it, they just can’t make it in a lab.

[@zrumble]

This isn’t a decline of a mined diamond this is a ad for lab created.🤣😂🤣

[@manojdheemar]

Moving everything into BTC and Revux. This presale is too good to ignore!

[@lotus630]

I read "Do Beers run out?"

[@raybod1775]

Less expensive lab grown or lab grown with contaminants to be exactly like mined.

[@kafeleboothe]

it's 2024, *gemstones of color

[@Mady-lo6qb]

😂

[@HarukiYamamoto]

No. They are not the same. Lab grown is chemically and physically superior.

[@waisinglee1509]

I think I would rather take his word for it...

[@HarukiYamamoto]

@@waisinglee1509 lol. Good for you.

[@raybod1775]

Soon, if not already, lab grown will be able to add contaminants and it will be impossible to distinguish from mined diamonds,

[@HarukiYamamoto]

@@raybod1775 That should make Mr. @waisingle1509 very happy.

[@Mady-lo6qb]

@@waisinglee1509 What he means is that stones from mines may have cracks and impurities that result in weaknesses in the stones that have to be cut away. Lots of stones from the ground aren't good enough for jewelry and only good for industrial use like diamond drill bits. But in a lab, the conditions are controlled so you can get a pretty flawless product each and every time.

[@larryconstantine1404]

😂😂

[@arunkottolli]

Mined diamonds will go the Dodo way!

[@brevitygreaves2321]

There are no Russian natural diamonds in China. No market for them.

[@jamesbell739]

The value of diamonds is made up. They aren't nearly as rare as jewelers make us think. I'm happy to see the market collapse. Lab Grown is the way to go.

[@JohnLee-db9zt]

Diamond is the biggest scam ever.

[@souravff5884]

Wondering if Revux will pump before XRP. It’s got potential!

[@MrMountain707]

Imagine being a slave mining diamonds, and finding out they aren't even special.

[@shriram4591]

Concentrating on BTC and Revux, with a little ETH on the side.

[@AkashSingh-pn3zl]

Seriously, get Revux now before it’s too late!

[@johnappleseed6926]

Fake diamonds

[@portalkey5283]

Not the jews though. Historical chokehold is still there.

[@sayedhassan382]

I will give u 95 percent off on lab grown diamond n I willl always choose natural over the lab grown n only the natural stones holds the value …. It’s like would u eat natural chicken or lab grown chicken n also I will keep my shop with natural diamond no sir no lab grown needed

[@DistrustHumanz]

That's not the issue. The problem is that very few people can afford the very expensive equipment to detect the nitrogen to see if the diamond is natural or lab grown. They even addressed this at 2:01 with 'you just have to trust the jeweler'. The entire diamond industry is now based on trust instead of science. Good luck with that.

[@Mady-lo6qb]

The numbers of people willing to put out money for such a thing are dropping rapidly. And if the market for natural stones shrinks i.e demand drops, then re/sale prices will also fall. If out of a market of a million people only two are willing to put out extra to buy a natural diamond, how can you expect to get a high price? Either that, or you will have to wait a very very long time for those two people to come into your shop and start a bidding war.

[@Mady-lo6qb]

lab grown vs natural chicken is not a good comparison. Meat tissue is a complicated structure and the molecules that it is made from - the nutrients inside - are very complex and not easy to synthesize. Diamond is simply carbon in a simple standard structure.

[@AyanBauri-zv7yu]

Got the inside scoop on Revux - don’t miss out on this!