# A small slice sets the price: what changed in v1.3.0, sgit.ai > The changes to the article "A small slice sets the price" in v1.3.0, paragraph by paragraph. *Source: · sgit.ai v0.7.87 · this file is generated from the same content as the page, so the two cannot drift. Every page on this site has a `.md` twin; internal links below point at them.* --- [Home](../../../index.md) / [Articles](../../index.md) / [A small slice sets the price](../../a-small-slice-sets-the-price.md) / [Versions](../a-small-slice-sets-the-price.md) / v1.3.0 # A small slice sets the price: what changed in v1.3.0 From v1.2.0 (2026-10-20, `b4ec6e4e4`) to v1.3.0 (2026-10-27, `db67c5ce1`), paragraph by paragraph. 0 paragraphs added, 0 removed, 4 changed in place, 46 unchanged. About 0 words added and 41 removed. Insertions are marked like this, deletions like this; unchanged runs are folded to one line; figures appear as their file names. [← v1.2.0](v1.2.0.md) · [all versions](../a-small-slice-sets-the-price.md) 2 unchanged paragraphs !shot ip-slice.webp | images/ | A small slice sets the price of the whole. At the IPO,whole: 4.2% of SpaceX was sold at $135 a share, and the whole company wasshare priced it at $1.77tn. The valuations reported along the way were set the same way, by small transactions. | concept 18 unchanged paragraphs, under In short {#in-short}, What was nagging me {#question}, What was actually sold {#sold}… !shot ip-float.webp | images/ | How much of each company was sold at its IPO, from the final prospectuses, with the median for all US IPOs since 1980 and for 2025 from Jay Ritter's statistics.2025. | comparison 4 unchanged paragraphs, under The money is not small {#amount} !shot ip-size.webp | images/ | The biggest IPOs, base offering only, in September 2026 dollars;dollars,and,and for three of them, the money raised as a share of the US stock market. | comparison 4 unchanged paragraphs, under Revenue at record speed, profit not yet {#revenue} !shot ip-sales.webp | images/ | Valuation against a year of revenue: the dot-com peak, using trailing revenue,peak and the 2026 AI companies, using annualised run-rates.companies. | comparison 18 unchanged paragraphs, under How a small slice sets the price {#mechanism}, What founders should take from it {#founders}, What this does not claim {#limits}… [← v1.2.0](v1.2.0.md) · [all versions](../a-small-slice-sets-the-price.md) --- *[Site index for agents](../../../llms.txt) · [HTML version](https://newsroom.sgit.ai/articles/versions/a-small-slice-sets-the-price/v1.3.0.html)*