Antiphon said:
You guys are missing a major element of this story.
First off, no one is missing that element of the story. It's already been brought up and commented on. The fact is that the companies growing or pressing diamond are finding more customers than they have product to sell to. You can repeat "no woman will want that" until you are blue in the face and it won't eliminate this demand.
This argument some (not Antiphon) make that natural diamond is a tradition is cheesy in the extreme. Diamond wedding bands have been "tradition" for less than 70 years! They aren't worn because of tradition; they are worn because they are beautiful. Women are being underestimated in this thread, repeatedly. Given the choice between two identicaly priced gems of identical quality, many (but not all) women would pick the one that is four times the size and grown in a lab over the tiny one dug up in africa by slave labor.
In the next two decades you can expect CVD diamond reactors to begin growing chunks of gem quality diamond in the hundred and thousands of carats, which will be efficiently cleaved into gems the likes of which few had ever seen before. And for cheap.
Secondly, gem diamond is an awful small element of the story. If you add up the markets that CVD diamond may generate, gem diamond is small potatoes. Even Apollo are just using it as the low hanging fruit till they break into other areas.
I can understand an interest in gem diamond, but keep in mind it really is fairly unimportant to the field.
Many areas of diamond research are in their infancy - transistors, for instance. Even these are showing consistent progress and have achieved important advances in the past two to three years. There is no reason to believe this will not continue, and even speed up.
Many other areas of diamond research are just now maturing. You can expect these technologies to begin to affect various markets by the end of next year (trust me

). However, unless you are in one of several technical fields, you will likely never know it.
Edit: PS...I always hear people say that diamonds are an investment. Could you explain this to me? THey've been dropping in value slowly but surely for at least a decade. Doesn't sound like much of an investment to me...