America's telcos were caught flat footed by the rapid rise of the Internet that has left them pondering what business they are in, according to this Reuters article appearing in VAR Business:
A decade into the Internet era, it is becoming clear to former telecommunications monopolies that they may not have what it takes to operate at Internet speed.
"The integrated telco model is broken. All innovation is coming from the edge of the Internet. It's coming from companies other than telecom companies, from the likes of Google, Amazon," said James Enck, an analyst at Daiwa Securities in London.