If I’m ever bored I can always count on Reddit to entertain me with mindless content, and also really interesting things I never knew before. I did a #FunFactFriday post a few weeks ago and thought I’d bring it back.
This week as I was browsing Reddit I stumbled upon this TIL (Today I Learned) –
TIL diamonds aren’t rare; their demand is a marketing invention. In 1938 De Beers hired an ad agency who arbitrarily decided that a diamond engagement ring is worth 1 month’s salary. It worked so well they increased it to 2 months’ salary. De Beers carefully restricts supply to keep the prices high.
While I had heard this of course, I thought I’d share it again with the world because I am an advertising major and have to acknowledge the best advertising campaign of all time. I can only hope that I will ever be half as successful in my own career as this campaign was.
What’s crazier is that even though many people know its true, it hasn’t really changed the way most people feel about it. Even though I am well aware that diamonds aren’t as valuable as they are made out to be – I still like them. It’s been so drilled into my head that knowing the truth doesn’t even change my mind.