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Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 crore (https://economictimes.indiatimes.com/tech/internet/facebook-buys-9-99-stake-in-reliance-jio-for-5-7-billion/articleshow/75283735.cms)

Due to the oil price crisis and not enough profits from Jio the India's richest person is forced to sell the stakes for other companies to pay the debts which was clearly used by facebook and bought the stakes for very cheap prices.

This is going to be a boon or curse for Indians?

One thing is certain, all Indians using this new WhatsAppPay platform can start preparing to kiss your privacy goodbye.

Almost half of India has already kissed Privacy Good bye by downloading the Arogya setu app. It is indeed a good app in situation like this but it seriously compromises your Privacy as it is always tracking you whenever you are carrying your mobile phone.

Therefore Privacy does not matter to most Indians untill they get entangled into some serious issue.

People who uses smarthphones has no privacy at all because google is stealing each and every data from every users and we also accepting their terms when we switch on our mobile for first time. ;D

अब रिलान्स भी वर्ल्ड में बहुत आगे जायेगा ऐसा लग रहा है. जब फेसबुक उसमे intrest दिखा रहा है. तो रिलान्स का फ्यूचर बहुत ही बढ़िया रहेगा. गुड लक .

There is so much wrong in this thread. First, Facebook and other multinationals buyin stake in Reliance Jio is anything but a desperate step from Reliance (Due to oil prices or whatever). These companies are recognizing the strong market base that Jio has captured with its aggressive pricing and a healthy dose of crony capitalism from the existing govt.
Remember Facebook wanted to give free internet to Indian, only that it'd be decided by Facebook what the people could access. That was stopped in track thanks to the storm over net neutrality. Now, Jio with its user base is the best platform for these international players to have a stake in this billion strong market of content consumers, and potentially, creators. Its the latter that will determine if this will be a good thing or a bad thing.

Also, i don't know why this discussion veered to privacy. We should be discussing about what exactly is the game plan of Jio with its aggressive forays into media, communication and technology. Its a battle for eyeballs and minds. The one who controls these , controls political outcomes and power. This is why so much centralization can never be a good thing. In the last 6 years, this govt policies have ensured that one by one, major telecom players are bowing out and the Ambani juggernaut is rolling on occupying their user base.

It is also funny how media never complaints about Jio's shameless switch from the "Lifetime free" to "chargeable" model.

Not just jio, every operator charges some rs monthly to even receive incoming calls. Meanwhile they all marketed themselves as 'lifetime free' one time or another.

Its all because of TRAI changed their rules at some point in the last few years that is why Jio started to change their plans and now they are really interested in doing it because almost the subscriptions packages are doubled from the prices where they have started.

Lockdown has resulted in Reliance to sell some of the stake in business to various companies. Surely, they have got it at cheap valuation and the way Reliance has captured the telecom market everyone knows about it. Airtel and Vodafone valuations came down drastically as share prices dropped drastically. Also, the way a monopoly sort of getting to create where Reliance is capturing the business is not a good thing as competition is healthy.

Lockdown doesn't affected much on reliance company and I guess they made more money due to the lockdown because people spend all their time on mobile for now.But due to reliance huge data offers the company is in huge debt for very long time so they sold the oil company shares to pay a little part of the debt still they need huge amount to get settle all the debt and the report says the total debt of reliance is around three lakh crores.