The next regular report will, no doubt, assert with full statistical rigour that "Twitter is for twits". It's been manifestly evident to many of us since its very inception.

People don't "tweet", they mostly be-twit themselves - sometimes quite impressively in only 140 characters. Others merely follow the twaddle produced by their twit-idols (a motley collection of vacuous celebrities, sports stars, self-serving shills, and the like). Still, pumping the hype on the way up was good for fleecing investors. Presumably Morgan Stanley can now fleece them again on the way down.