The Prof G Pod with Scott Galloway cover image

The Prof G Pod with Scott Galloway

Office Hours: The Lab-Grown Diamond Boom, Investment in Women’s Sports, and Deciding Whether to Quit Your Job

Nov 29, 2023
0
20:05
Snipd AI
The podcast discusses the rise of lab-grown diamonds and their impact on the diamond industry. It explores the potential investment in women's sports and the increase in viewership. A disillusioned investment banker seeks advice on quitting their job to pursue new adventures.
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Podcast summary created with Snipd AI

Quick takeaways

  • Lab-grown diamonds have significantly impacted the diamond industry, leading to a drop in natural diamond prices and an increase in lab-grown diamond sales.
  • Investing in women's sports, driven by growing interest and engagement, presents promising opportunities for future growth and asset value.

Deep dives

Lab-grown diamonds gain popularity and impact traditional diamond prices

Lab-grown diamonds have become increasingly popular due to their similarity to natural diamonds but at a fraction of the cost. Global sales of lab-grown diamonds reached $12 billion in 2022, showing a significant 38% increase. Mainstream jewelry retailers, including K jewelers and Pandora, have started selling lab-grown diamonds as well. However, lab-grown diamonds do not appreciate in value and are sold at an 80% discount compared to natural diamonds, up from a 20% discount five years ago. As a result, natural diamond prices have dropped by 18% from their peak, and this trend is expected to continue as lab-grown diamonds become more prevalent.

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