This Indian billionaire gave away $25 billion in mobile services for FREE.
Everyone laughed...
But 6 months later, he'd CRUSHED 3 of his biggest competitors.
Now, he controls 40% of the market.
How Mukesh Ambani pulled off the most brutal market takeover in history🧵
Everyone laughed...
But 6 months later, he'd CRUSHED 3 of his biggest competitors.
Now, he controls 40% of the market.
How Mukesh Ambani pulled off the most brutal market takeover in history🧵
India's telecom market in 2016 was a mess.
Data prices were among the highest in the world.
Call drops were frequent. Internet speeds were terrible.
Then Mukesh Ambani decided enough was enough...
Data prices were among the highest in the world.
Call drops were frequent. Internet speeds were terrible.
Then Mukesh Ambani decided enough was enough...
Ambani spent $25 billion building India's largest 4G network.
But instead of charging premium prices like his competitors expected...
He made an announcement that sent shockwaves through the industry:
But instead of charging premium prices like his competitors expected...
He made an announcement that sent shockwaves through the industry:
Everything would be FREE for 4 months.
• Unlimited 4G data (up to 4GB per day)
• Free access to Jio's premium apps
• All voice calls free forever
• Zero roaming charges
• Free SMS
The incumbents thought he was committing business suicide.
The public's response?
• Unlimited 4G data (up to 4GB per day)
• Free access to Jio's premium apps
• All voice calls free forever
• Zero roaming charges
• Free SMS
The incumbents thought he was committing business suicide.
The public's response?
Absolute mayhem.
Lines stretched for kilometers outside Jio stores.
The company was acquiring millions of new users rapidly.
They hit 16 million subscribers in just one month - a world record.
But here's where Ambani's genius comes in:
Lines stretched for kilometers outside Jio stores.
The company was acquiring millions of new users rapidly.
They hit 16 million subscribers in just one month - a world record.
But here's where Ambani's genius comes in:
He didn't just offer free service.
He had spent years building India's largest fiber optic network:
• Coverage of 18,000 cities
• Reach into 200,000 villages
• Extensive network infrastructure
While competitors laughed, he was building an empire.
He had spent years building India's largest fiber optic network:
• Coverage of 18,000 cities
• Reach into 200,000 villages
• Extensive network infrastructure
While competitors laughed, he was building an empire.
The incumbent operators had a brutal awakening:
They realized Jio's network was far superior to theirs.
When customers tried Jio's blazing fast speeds, they didn't want to go back.
And that's when panic set in...
They realized Jio's network was far superior to theirs.
When customers tried Jio's blazing fast speeds, they didn't want to go back.
And that's when panic set in...
The competition tried everything to stop Jio:
• Refused to provide interconnect points
• Ran negative PR campaigns
• Filed regulatory complaints
They claimed Jio was "destroying the industry".
But it was too late. The dam had broken...
• Refused to provide interconnect points
• Ran negative PR campaigns
• Filed regulatory complaints
They claimed Jio was "destroying the industry".
But it was too late. The dam had broken...
By December 2016, just 3 months after launch:
Jio had acquired 50 million subscribers.
The competition had lost $23 billion in market value.
Customers were leaving them in droves.
But Ambani wasn't done yet...
Jio had acquired 50 million subscribers.
The competition had lost $23 billion in market value.
Customers were leaving them in droves.
But Ambani wasn't done yet...
After the free period ended, Jio introduced pricing that shook the market:
Data prices dropped to around Rs. 50 per GB.
The entire industry was forced to match these rates or die.
This triggered the biggest consolidation in telecom history:
Data prices dropped to around Rs. 50 per GB.
The entire industry was forced to match these rates or die.
This triggered the biggest consolidation in telecom history:
Vodafone merged with Idea.
Aircel went bankrupt.
Tata Teleservices sold to Airtel.
The industry went from 10 major players to just 4.
And Jio? They were just getting started...
Aircel went bankrupt.
Tata Teleservices sold to Airtel.
The industry went from 10 major players to just 4.
And Jio? They were just getting started...
Jio's real strategy wasn't just about free service.
It was about digital transformation:
They wanted to change how a billion Indians:
• Shop online
• Get educated
• Make payments
• Consume content
• Access healthcare
The telecom play was just the beginning.
It was about digital transformation:
They wanted to change how a billion Indians:
• Shop online
• Get educated
• Make payments
• Consume content
• Access healthcare
The telecom play was just the beginning.
The same competitors who laughed at the free offering were now struggling to survive.
Airtel's ARPU fell by 25%.
Idea's ARPU crashed by 35%.
The market would never be the same.
Airtel's ARPU fell by 25%.
Idea's ARPU crashed by 35%.
The market would never be the same.
The real genius of Jio wasn't just disrupting prices.
It was Ambani's ability to build trust at scale.
While competitors spent millions on marketing, Jio let their actions speak:
• Superior infrastructure
• Customer-first pricing
• Long-term vision
Which is why I love this story so much:
It was Ambani's ability to build trust at scale.
While competitors spent millions on marketing, Jio let their actions speak:
• Superior infrastructure
• Customer-first pricing
• Long-term vision
Which is why I love this story so much:
We've spent the past 2 years helping founders build trust at scale, too...
But without having to spend billions.
You don't need Jio's infrastructure or Ambani's wealth.
Here's how you can build trust at scale and become the default force in your industry:
But without having to spend billions.
You don't need Jio's infrastructure or Ambani's wealth.
Here's how you can build trust at scale and become the default force in your industry:
By building a personal brand.
Consistency in sharing your vision, insights, and journey.
Think about it:
Jio converted millions of customers through bold moves and clear communication.
Today's founders can do the same...
Consistency in sharing your vision, insights, and journey.
Think about it:
Jio converted millions of customers through bold moves and clear communication.
Today's founders can do the same...
Through content that:
• Is authentic
• Demonstrates authority
• Creates connections with your customers
Your personal brand becomes your competitive advantage.
Once you build trust at scale, EVERY business goal you have — sales, hiring investment — become 10x easier.
So:
• Is authentic
• Demonstrates authority
• Creates connections with your customers
Your personal brand becomes your competitive advantage.
Once you build trust at scale, EVERY business goal you have — sales, hiring investment — become 10x easier.
So:
Founders: We’ll build your personal/company brand on 𝕏 (and beyond) without you lifting a finger.
To date, we've already helped 100+ founders get 3+ Billion combined views.
Interested in how we can do this for you? Book your free discovery call here: form.typeform.com/to/JWuXNkxQ?ut…
To date, we've already helped 100+ founders get 3+ Billion combined views.
Interested in how we can do this for you? Book your free discovery call here: form.typeform.com/to/JWuXNkxQ?ut…
Thanks for reading! A bit about me:
2 years ago, I cofounded @ThoughtleadrX — a premium personal branding agency for world-class founders, executives, and investors looking to dominate socials.
If you enjoyed this, hit "follow" for more breakdowns!
2 years ago, I cofounded @ThoughtleadrX — a premium personal branding agency for world-class founders, executives, and investors looking to dominate socials.
If you enjoyed this, hit "follow" for more breakdowns!
Video Credits:
youtu.be/9Oy2dAjrUL0?si…
youtu.be/bCeTYueYpNI?si…
youtu.be/ObM_bDnf9Lc?si…
youtu.be/P-6daW2W0rQ?si…
youtu.be/9Oy2dAjrUL0?si…
youtu.be/bCeTYueYpNI?si…
youtu.be/ObM_bDnf9Lc?si…
youtu.be/P-6daW2W0rQ?si…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
