"The idea of Jio was first seeded by Ambani’s daughter, Isha, in 2011. She was a student at Yale (in the US) and was home for holidays. She wanted to submit some coursework and she said, 'Dad, the internet in our house sucks'," he recalled.
Mega thread on how the India’s Largest Telecom Operator – Reliance Jio (~35% market share) came into existence & became India’s Largest Mobile Broadband in less than 2 years.
Crazy story...no less than revolution..
Please retweet and comment below if you got blown away..
(1/n)
"The idea of Jio was first seeded by Ambani’s daughter, Isha, in 2011. She was a student at Yale (in the US) and was home for holidays. She wanted to submit some coursework and she said, 'Dad, the internet in our house sucks'," he recalled.
What was that?
That big thing...that will change India forever...for good..
Ambani said - Akash, at that time, stated that in the old world, telecom was the voice and people made money on calls but in the new world everything is DIGITAL...!!
One simple but powerful idea..high speed internet is future
After the conversation, he researched more about it & found out that India was suffering from poor connectivity of data & prices were high which was not affordable to majority of Indians.
Dream was BIG...but it was game-changer...
After years of planning & research, Jio was finally launched on 5th September, 2016.
There was lot of competition...but Winning is their DNA..
It clicked...Indian customers loved it..
Digital revolution 2.0 in India just got started...
Digital Bharat..affordable cost..
Reliance Jio extended the free usage period for Jio services to its existing and new customers till March 31, 2017.
Jio reached the 100 million user mark in the first 170 days, adding consumers at an average of 600,000 a day.
It has been reported that around 6 million units of Jio Phone were booked within three days of its pre-booking that started on August 24.
And then came FIBER....yes...the new age gold.
They first announced as Jio GigaFiber in 2018 at the Reliance Industries 41st AGM. Later renamed Jio Fiber, it did commercial launch on September 5, 2019
This was truely a revolution..
How did it transform?
And this was just part of the game...
There was a bigger game..
So it's mobile + Broadband + OTT..
Truely - Karlo DIGITAL duniya mutthi mai..😀
Game-changing...
And market also rewarded it
Why not - it was thinking about FUTURE..
Yes...and the future is surely DIGITAL..
What it do to INDIA?
But one thing is for sure...it changed the DIGITAL landscape of INDIA forever..for good..
And transformed lives of crores of Indians
Hope you enjoyed this mega thread..
Connect with me here: https://t.co/bteXXhg269
More from Vivek Mashrani, CFA
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1/ Some initial thoughts on personal moats:
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
