• The Drum, Tuesday, September 8, 2015 6:12 AM

The boutique M&A investment bank, which advises investors on potential M&A activity, has issued a release claiming that Twitter's "strategic immobility" has led to its surrender of the early "mobile first" advantage it had over rival social offerings -- the social network started out as an SMS-based microblogging service. This lethargy means Twitter is no more valuable than a public utility company, and is now in danger of rendering itself a "dumb pipe" (i.e., a business where other companies are able to extract value).

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