Let's Crate Source Code Auction
Hi friends,

We’re holding a Vickrey auction to sell access to the Crate source code!

How does a Vickrey auction work? Well, the top 10% of bids will win and everyone will pay the same price (the highest bid after the first 10%).

A quick example. Say there are 100 people who participate. Say the top 11 bids, ranked in descending order, look like the following:

1 $10,000
2 $8,000
3 $5,000
4 $3,000
5 $1,000
6 $800
7 $500
8 $450
9 $400
10 $390
11 $350

Everyone from 1-10 wins, and all of the winners will pay $350, the 11th highest bid, for full access to our GitHub repo.

The source code will come complete with a Dockerfile that will allow you to immediately start up a working version of the web application in less than a minute. Additionally, we'll be updating the repository over time, so you're not purchasing "dead code". We'll also accept PRs from other folks who have access to the repo.

The code is written in Python 3 using the Django Web Framework. The code is easy to read, understand, and improve upon. The only dependencies are Redis and PostgreSQL.

You're free to use the code however you like! You just can't use the Let's Crate brand or name in any way that might indicate that your work is associated with Let's Crate in any way. You also can't resell the source code yourself (duh!).

The auction serves a few purposes. It will…

1. Help us determine a fair market value.
2. Get you a discount compared to what it's ultimately priced for on Gumroad.

After the auction, we'll be putting it up for sale on Gumroad for 4x the final winning bid amount. There are no fees involved in submitting a bid—all you need is an email and a bid higher than $1. :)

The final day to place a bid is this Friday, 2019/11/22. Good luck!

Best,
Dan & Sahil
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