When JIO was launched, till it became the behemoth it is today, there were a series of some 20 regulatory changes in Telecom in India, all benefiting Jio at the right time, hurting their competition.
When everyone is investing in Jio, I think its that absurdity everyone is investing in.
Lots of rumors that Facebook's investment was mostly to spur the government to ban TikTok.
I'd also wager that Facebook has been lobbying the US government to ban TikTok. This is the first big threat they've had that they haven't been able to buy or crush
