India is so positive regarding the iconic #JioFacebook deal. The expectations are that it will bring a major change in the digital economy. It is planning to revolutionize how small business work including the Kirana stores. And I strongly believe that the synergy between Facebook and #Reliance Jio will help them achieve their targets by engulfing the reality into their digital space.
The success of the partnership might reciprocate #WeChat in #China. Facebook has acquired an approximately 10% stake in Jio, a company that values more than all the subsidiaries combined in RIL. As a BOGO offer, Facebook will get a board seat in RIL.
The comparison might look wonderful in the estimates but what agonies me is that WeChat is completely sourced by China. Whereas, in the current #JioFacebook deal, the major digital support is done by Facebook, a company that violated multiple #privacy laws in the past.
Also, the kind of user base Facebook has in India through its cleverly acquired subsidiaries: Instagram(155 Million), WhatsApp(400 Million), and Facebook(330 Million). In one word the kind of information control which Facebook has scares me. If it can rig American elections, surely it can do better than #Spectre.
Another major pain point is the fact that RIL’s competitors will take a crushing blow. Already deprived of Oxygen and freedom due to COVID, the domestic firms in the digital and retail space will have to face the Goliath. And definitely, the customer will be king until democracy takes over.