The title "Gatsby" is probably a reference to the book "The Great Gatsby," which was basically about a guy (Gatsby) that was willing to sacrifice everything about himself for the woman that he loved who turned out to be absolute trash compared to him, though he never seemed to realize it.
the little black box
thats there after we crash
solemnly you'll play the facts
so they can hear how bad
we had it
This could be a reference to towards the end of the novel, when Daisy (the girl) runs over someone in Gatsby's car. In the novel, Gastby took the blame for her and was murdered (black box) for it.