Complex sentence: The first major development in diamond cutting came with the "Point Cut" during the latter half of the 14th centur: the Point Cut follows the natural shape of an octahedral raw diamond crystal, eliminating some waste in the cutting process.
Split into simpler sentences: The first major development in diamond cutting came with the "Point Cut" during the latter half of the 14th century. The Point Cut follows the natural shape of an octahedron shaped raw diamond, eliminating waste in the cutting process.