Big is not always beautiful, and SpaceX was by far the largest stock market flotation ever, but this small DIY shareholder remains sceptical about anything that sounds like faith-based investment. It is quite possible to be the most exciting business on this planet and a bad deal for subscribers in the initial public offer (IPO).

To be specific, I remain very enthusiastic about the SpaceX subsidiary Starlink, which has more than 10,000 satellites in low earth orbit and the potential to replace many conventional internet service providers. But I am much less keen about other subsidiaries including X, formerly Twitter, the anti-social media site where horrible people say horrible things to each other. It must be somebody’s idea of entertainment but it isn’t mine.