The story of De Beers and the history of the diamond monopoly...
Diamonds are seen as symbols of wealth, status, and love. But, despite what most people believe, diamonds are not actually rare. And one single company is responsible for manipulating the entire world into believing otherwise. De Beers spent the 20th century pulling the strings behind every element of the diamond industry - from mining, to marketing, to sales.
De Beers controlled the diamond trade, and by controlling the supply of diamonds, they could completely manipulate the prices. De Beers also pulled off one of the most successful marketing cons ever, by convincing us all that diamonds are much more valuable than they really are. And that the only way to show you truly love someone, is spending several months of your salary to buy them a diamond ring. What may seem like a romantic tradition, is really an incredible scheme by the diamond cartel.
So today, we’re going to uncover the truth about the brutal business of diamonds. From secret syndicates, Apartheid, price fixing and blood diamonds. This is a story spanning three centuries into one of the darkest, and most manipulative industries of all time. It’s a story of war and all kinds of human rights violations. And it goes much deeper than you may think.
This is the story of De Beers - and the evil business of diamonds. Hope you enjoy this mini movie about the dark history of diamonds from MagnatesMedia - the home of business stories!
00:00 - Intro
01:50 - Greed, Sin & Violence (Chapter 1)
11:03 - The Syndicate (Chapter 2)
17:23 - The Diamond King (Chapter 3)
21:49 - The Business of Love (Chapter 4)
29:13 - The Business of War (Chapter 5)
37:08 - Blood Diamonds (Chapter 6)
41:46 - The Best Business Model Right Now
44:21 - Diamonds Are Forever (Chapter 7)