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Lab-grown diamonds didn’t abolish diamonds; they changed pricing power. Same with AI: many jobs won’t vanish, but the value of some tasks may fall sharply.⁣ ⁣

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Justin Wolfers

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14,987 Aufrufe • vor 1 Monat •via X (Twitter)

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“The musicians know that original diamond chains are in America, but they continue to allow local jewelers to make lab-grown diamonds for them. Shatta Wale and his ‘little son’ Medikal should tell us where they bought the chains on their necks.” — Musician and social media personality Showboy claims that some Ghanaian musicians are wearing lab-grown diamond chains instead of original diamonds, challenging Shatta Wale and Medikal to reveal the source of the chains they wear.
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“The musicians know that original diamond chains are in America, but they continue to allow local jewelers to make lab-grown diamonds for them. Shatta Wale and his ‘little son’ Medikal should tell us where they bought the chains on their necks.” — Musician and social media personality Showboy claims that some Ghanaian musicians are wearing lab-grown diamond chains instead of original diamonds, challenging Shatta Wale and Medikal to reveal the source of the chains they wear.

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Indian-made lab-grown diamonds are dominating the world: “Titan had invested in a US-based company called Clean Origin, which made lab-grown diamonds. “But Titan wrote down the investment of $ 20 Million because it couldn’t survive the competition from India. “The CFO of Clean Origin said, ‘We cannot compete with the low cost of production and the scale that India has in lab-grown diamonds.’ “So, India is doing a great job here. Credit is also due to the Government of India and the Gujarat government for incentivising and supporting this industry.” - Jayant Mundhra (Jayant Shilanjan Mundhra)
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Indian-made lab-grown diamonds are dominating the world: “Titan had invested in a US-based company called Clean Origin, which made lab-grown diamonds. “But Titan wrote down the investment of $ 20 Million because it couldn’t survive the competition from India. “The CFO of Clean Origin said, ‘We cannot compete with the low cost of production and the scale that India has in lab-grown diamonds.’ “So, India is doing a great job here. Credit is also due to the Government of India and the Gujarat government for incentivising and supporting this industry.” - Jayant Mundhra (Jayant Shilanjan Mundhra)

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#IGI there is lot of noise on IGIL People are saying no need for certification but they are sharing one concall screenshot of single co. But there are too many mfg & retailers using IGI to certify lab grown as well natural diamonds See how certification done in bulk at IGI👇🏻
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#IGI there is lot of noise on IGIL People are saying no need for certification but they are sharing one concall screenshot of single co. But there are too many mfg & retailers using IGI to certify lab grown as well natural diamonds See how certification done in bulk at IGI👇🏻

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Lab-grown diamonds mean cheaper sparkle and fewer people doing dangerous work to produce it. That’s progress.⁣ ⁣ But progress can come with a cost: workers caught in the transition can end up paying the bill. And that cost is real.⁣ ⁣
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Lab-grown diamonds mean cheaper sparkle and fewer people doing dangerous work to produce it. That’s progress.⁣ ⁣ But progress can come with a cost: workers caught in the transition can end up paying the bill. And that cost is real.⁣ ⁣

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“Diamonds are a girl’s best friend”… but are they losing their sparkle? 💎 As demand for natural diamonds declines, some of Africa’s biggest diamond mines are slowing production. BBC Africa’s Chiamaka Enendu explains what’s driving the shift in the global diamond market.
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“Diamonds are a girl’s best friend”… but are they losing their sparkle? 💎 As demand for natural diamonds declines, some of Africa’s biggest diamond mines are slowing production. BBC Africa’s Chiamaka Enendu explains what’s driving the shift in the global diamond market.

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The answer to the water-diamond paradox falsified Marx’s assumption that value is derived from labor. Adam Smith in 1776 couldn’t answer why diamonds cost a bundle whereas water costs almost nothing in comparison although it’s necessary for survival. Carl Menger figured out that people don’t value water and diamonds as categories. Water is abundant so one more cup barely matters, but the same doesn’t apply to diamonds. It’s that margin, that one extra unit of water and diamond that people value. Marginalism showed that value is not derived from labor alone as Marx had assumed. Put simply, sweat is not equal to value.
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The answer to the water-diamond paradox falsified Marx’s assumption that value is derived from labor. Adam Smith in 1776 couldn’t answer why diamonds cost a bundle whereas water costs almost nothing in comparison although it’s necessary for survival. Carl Menger figured out that people don’t value water and diamonds as categories. Water is abundant so one more cup barely matters, but the same doesn’t apply to diamonds. It’s that margin, that one extra unit of water and diamond that people value. Marginalism showed that value is not derived from labor alone as Marx had assumed. Put simply, sweat is not equal to value.

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Most people are terrified AI will take their jobs because they confuse their tasks with their purpose. Jensen Huang explains it perfectly: If you watched a CEO all day, you would think their job is "typist" because they spend most of their time typing emails. If AI automates typing, the CEO doesn't lose their job. They just have more time to lead. The same applies to everyone. When AI automates the tasks, it enhances the purpose. Stop measuring your value by your to-do list. Your value is the purpose behind it.

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Sell all of the inflated non diamond LS cards in your binder. Especially if they are on teams with no diamonds or even golds. They’re super inflated because of lack of supply and people trying to finish “cheap collections” You can grind free diamonds, don’t sweat the cheap collection rewards that are only 83-85 that won’t do much on the team
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Sell all of the inflated non diamond LS cards in your binder. Especially if they are on teams with no diamonds or even golds. They’re super inflated because of lack of supply and people trying to finish “cheap collections” You can grind free diamonds, don’t sweat the cheap collection rewards that are only 83-85 that won’t do much on the team

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