Paul Zemnitsky
Appearances
Planet Money
Planet Money buys a mystery diamond
Yeah, so my name is Paul Zemnitsky and I'm an independent diamond industry analyst. Paul Zemnitsky is like the diamond markets guy.
Planet Money
Planet Money buys a mystery diamond
Culturally, Chinese consumers really didn't buy diamonds prior to, say, the 2000s. So they were kind of marketing that as a new area to drive diamond demand, and it started to really catch on.
Planet Money
Planet Money buys a mystery diamond
Essentially, they were selling, you know, a lab diamond having the same maybe meaning, if you will, of a natural diamond.
Planet Money
Planet Money buys a mystery diamond
Absolutely. That's the way I see it. They're essentially riding on their coattails.
Planet Money
Planet Money buys a mystery diamond
There's really not anybody there. It's basically machines that are growing diamonds. They'll just be, you know, rows and rows of them.
Planet Money
Planet Money buys a mystery diamond
I would describe it as like a bubble in production, a bubble in new supply that really became clear in, I would say, 2022 and 2023.