Another aspect of Deliveroo that institutions didn't like is its dual share structure, which gives founder Will Shu 57 per cent of the voting rights on his residual 6 per cent holding of 'Class B' shares: the sort of device Lord Hill's recent 'UK Listing Review' said London should accommodate 'to make sure we attract companies in vital innovative growth sectors'. But far from being an exciting novelty, the dual structure is seen by some City elders as a return to notions of corporate control from half a century ago, when family-held multiple-voting B shares protected underperformers like the Savoy hotel from takeover. Perhaps the Deliveroo fiasco will prove salutary, however. Overall, I'm in tune with veteran fund manager Richard Buxton of Jupiter Asset Manager, who declared himself 'absolutely delighted… If this convinces all those IPOs seeking silly valuations to go to New York, Hong Kong or Amsterdam, not London, so much the better'.