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this post was submitted on 17 Feb 2024
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Late Stage Capitalism
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This is the best summary I could come up with:
Social media posts show millennials and Generation Zs proudly explaining the purchase of their lab-grown diamonds for sustainability and ethical reasons.
They use words like “sustainable” and “environmentally-friendly” on their websites, but don’t post their environmental impact reports and aren’t certified by third parties.
But Paul Zimnisky, a diamond industry expert, said companies that are transparent about their supply chain and use renewable energy like this “represent a very small portion of production.”
With lower prices for lab-grown and young people increasingly preferring them, the new diamonds have cut into the market share for natural stones.
Paying thousands of dollars for something that drops most of its value in just a few years can leave the buyer feeling cheated, which Golan said is an element that is currently working against the lab-grown sector.
“But when we’re using materials that have caused harm to other people and the environment to create a symbol of love and commitment or identity, to me it feels at odds.
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