Baltimore–Last year, Ron Samuelson, chief executive of Samuelson’s Diamonds in Baltimore, bought an 8.5-carat brownish-yellow round diamond mounted in a men’s nugget ring from a customer who was seduced by the “sell your jewelry” offer on the store’s Web site.

“It was a big, ugly stone,” Samuelson recalls. “When we showed it to our cutter, he said, ‘Yeah, I could make this into a fancy yellow.’”

The resulting diamond, a 6.86-carat fancy-yellow radiant, is now part of the store’s inventory, and Samuelson is confident that when he eventually sells the stone, it will net him a tidy profit.

“I’ve almost eliminated my need for diamond dealers,” Samuelson says. “For every one person who wants to buy a diamond, 20 want to sell.”

As of this release, the ring is still available:

The 6.86 Carat Fancy Yellow Radiant Ring

Samuelson’s Diamonds continues to offer its customers the best prices for used jewelry, gold, silver and diamonds.

The original article can be found here: ‘Recession brings glut of diamonds, but few buyers.‘

Three MySpace executives, including Amit Kapur, the chief operating officer and a rising star, are leaving the company to work on a start-up.

Here is an interesting interview about MySpace (I’ve discovered I know almost nothing about its history, despite its popularity)
Q&A: Stealing MySpace Author Julia Angwin | Epicenter from Wired.com

They also did one other thing: They didn’t believe in Friendster’s rigid model, which is, by the way, the same as Facebook’s rigid model of trying to be who you are. MySpace was willing to let people be who they wanted to be.

A change in Facebook’s newsfeed and in their fan (business) pages.
Facebook Launching New Real-Time Homepage

In other changes, Facebook is overhauling its Pages system to make them more like profiles, with the addition of status updates from the page owner. Think of it as essentially user profiles for those with a big audience (Facebook has a 5,000 friend limit on regular profiles) – users who will have the new page format starting later today will include U2, CNN, and Michael Phelps. Other Pages users will be able to migrate to the new style through next week.

Plus an amusing article about those fake celebrity profiles on facebook:
Confessions of a Facebook Social Climber – WSJ.com

I recently became friends with Charlie Sheen — but not exactly. It’s a little complicated. You see, I’ve spent the past three months moving up the Facebook social ladder, “friending” more and more important people every day.

And finally, in a recession, it is unsurprising that free content should be popular:
YouTube in Numbers: 1 Month, 100 Million US Viewers, 6.3 Billion Videos

YouTube is, unsurprisingly, doing great again. In January, 100.9 million visitors viewed 6.3 billion videos on the popular video sharing service, surpassing the 100 million viewers milestone in the US for the first time.

See you next week.