A text book case of technology taking over. The market suffered a bit with the introduction of cubic zirconia, but now you can grow real diamonds cheaply, what is the point of owning a natural diamond vs. a commercially grown one? And how long before commercially grown ones can imitate flaws such that it’s impossible to distinguish between them? Bye-bye de Beers. You won’t be able to monopolise diamond production!
Now that the only point ever in giving a girl a big rock was to impress her (and her mother) with your wealth (or borrowing capacity) has now been rendered impotent, will the tradition of sparkly engagement rings disappear? And what marketing scam will replace it?