Yes, it is true! And apparently its fast...

With the comment from grahampvm, I think I should make a post for people who don't know why jailbreaking occurs and why the people who started it, do it.

Jailbreaking can happen with all sorts of devices, starting from your mobile phone to your gaming console. I do get the questions of why do they do it and why is no one taking action. Well someone did take action, Sony Entertainment America has taken action against a iPhone modder and hacker geohot (George Hotz)