This Week in Startups

StoneAlgo’s Devin Jones on “Zillow for diamonds” + Mar Hershenson on the art of picking | E1766

Jun 21, 2023
Devin Jones, CEO of StoneAlgo, is transforming the diamond market with his venture, likened to 'Zillow for diamonds.' He discusses innovative pricing tools and the ethical challenges in the diamond supply chain. Mar Hershenson dives into the 'Art of Picking,' drawing parallels between venture capital and the music industry, underscoring the importance of ongoing education in investment decisions. Both guests share insightful anecdotes on navigating the complexities of love, entrepreneurship, and capital connections.
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INSIGHT

Diamond Identification

  • Diamonds are laser inscribed with unique identification numbers for verification and tracking.
  • StoneAlgo uses these numbers to provide real-time diamond price estimates on their platform.
ADVICE

Frugality and Capital Efficiency

  • Maintain frugality and capital efficiency, even after securing significant funding.
  • Prioritize investing in your team and product over unnecessary expenses.
ANECDOTE

Connecting with Launch

  • Devin Jones was offered a position by a competitor but chose to stay with StoneAlgo.
  • He connected with Launch through All In and cold outreach after researching their investment activity.
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