Hey millennials: Why aren't you buying diamonds?
It's a question that The Economist had for people born between the 1980s and the early 2000s after the tennis ball-sized Lesedi La Rona diamond failed to sell at a Sotheby's auction last week.
The Lesedi La Rona diamond. (Photo: Nils Jorgensen/REX/Shutterstock via CP)
See, the diamond was discovered by the Lucara Diamond Corp., a Vancouver-based company that found the stone in Botswana.
They tried to auction it for $92 million. But the highest bid it drew was $79 million.
The Economist said the diamond industry is struggling to sell to millennials because they're wary of "the taint of conflict and exploitation." It's an understandable concern — but one that "irks Lucara and other listed diamond miners" because they claim to "play by the rules."
But the magazine was just baiting people for snark when it sold the story this way:
This was the top response to that question:
@TheEconomist maybe because they're burdened with crippling student loan debt and can't actually find a good paying job— The only Derp™ (@D2_Derpinator) July 1, 2016
Now, The Economist is an august magazine that is keenly aware of the struggles that millennials face.
But the magazine might have done better to ask its question another way.
Because, well, just look at how people responded:
@TheEconomist Umm... because their degrees are worth shit, their jobs are worth shit, and they still live at home, and the economy is shit?— rob gibbs (@robg426) July 1, 2016
@TheEconomist because they are worthless rocks made under exploitative conditions?— Tim Doyle (@NakatomiTim) July 1, 2016
.@TheEconomist we all work at Verizon and Lids at the mall.— Robo-Robb (@roborobb) July 1, 2016
@TheEconomist lack of interest, baby boomers have the jobs and cash, and fewer are getting married.— The Doctor (@Drstevenhobbs) July 1, 2016
Yeah, Millennials, WHY AREN'T YOU BUYING FUCKING DIAMONDS?— Simon (@TheSimonBarrett) July 1, 2016
@TheEconomist Because millennials are the highest educated and lowest paid age demographic.— Scott A Hutchins (@scottandrewh) July 1, 2016
@TheEconomist I have $8 to my name— Kelly Mays (@CoolDogsRule) July 1, 2016
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