I still have to read the whole thing. But I would add a few observations of my own as a 4th generation guy in the biz.

Right now two big things are headwinds-One. My generation of store owner operator / Jewelry maker /diamond dealer may be experiencing a huge generation gap culturally. My generation got computers later in life and the internet at the height, not the start of our experience. Etc. Two-RECESSION with a middle class struggling for existence.

Trends.
For now many of us including millennials are all starry eyed over technology and reshaping how we communicate. It’s a trans-formative era. impermanence is not a bug, it’s a feature.

But that’s not forever. At some point the new tech will go from 1,0 (new) to 2,0 (practical) People will start to respect permanent value again. What is the lasting value of electronics? A net negative with disposal considerations. Grandmas ring? Cherished if it’s still in the family.

Let’s not forget the young love their bling. I may Page what our biz will do to not fade away like a two year old phone.