The Diamond Cartel: History's Greatest Monopoly

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The truth about diamonds
You’re Ernest Oppenhiemer in the jewelry business, and you have a monopoly over all the diamond mines in South Africa, the biggest diamond producer
De Beers was on top of the world
Diamonds make for great jewelry that the world is willing to top dollar for, they have industrial uses that no other materials can really replace, and you control the main area in the world where 90% diamonds are coming from
Everyone thought that diamonds are pretty rare, making them very valuable much like how gold is valuable
It’s becoming more apparent that diamonds aren’t really as rare as we thought
The economics of diamonds are looking pretty bleak, but you’re a very clever businessman so you’re not willing to quit
Shift your business from digging as many diamonds out of the ground as possible, to doing everything in your power to control how many diamonds come out of the ground
Turn your modest diamond operation into the most successful monopoly cartel the world has ever seen in the blood diamond trade

A cartel is a group of companies coming together to fix the price of a product so that the all cartel members get their fair share of the profits
Like how major oil countries come together as the cartel OPEC, to fix the price of crude oil, except with a diamond cartel
Once these locals catch on to how profitable the diamond trade is, they’ll started trading diamonds and smuggling it - do whatever is necessary to crush them

Now that you have the start of the supply chain under your grip, it’s time for the merchants
Since you control 90% of the world’s diamond output, merchants who want to buy raw diamonds can really only go to you
You can’t legally operate in the US, so set up shop in London where you’ll distribute raw diamonds to merchants
It’s the 1930’s, you’re making more money than ever but the people in you’re biggest market, the US, don’t really care about diamonds and your sales were pretty small
But jewelery is just that, a “nice-to-have,” a luxury that only people with extra money can afford
You need diamonds to symbolize something so evergreen that no matter how the economy was doing, no matter how rich or poor a person was, people would always need diamonds

You create the infamous “diamonds are forever” campaign, history’s greatest marketing campaign
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Видео The Diamond Cartel: History's Greatest Monopoly канала Jake Tran