Josh Luber

speaker

555 appearances 2 recordings 1 series first heard Nov 2024 last heard 22 Jul

Josh Luber’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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And if there's 10 products, 10 units, they're all the same.

The 10 highest bids win.

They're the ones who are allowed to buy the product.

But the price is set by what's called the clearing price.

And the clearing price is the lowest winning bid.

So in that case, it would be the 10th highest bid.

And everybody pays the clearing price.

So if the highest bid is $1,200, $1,100, $1,800, $1,000.

And it's like $900 is the 10th highest bid.

Everybody pays $900, right?

And those people all get it for that product, and the other people don't get the product.

There's only 10.

Now, what that does is it does three things.

Super powerful.

So first of all, just in the interest of equitable distribution, everyone's buying the same product at the exact same moment in time.

So it would be inequitable for people to pay different amounts.

So, okay, we all pay the same amount.

No one can argue that's not a fair market price.

Everyone is willing to pay at least $900 in that example.

But here's the thing is in that case, nine out of 10 people get the product for less than what they were willing to pay.

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