Lyric discussion by Bambini 

I agree with some of the points already made so far, but I think there's a little more to it than has been mentioned so far.

This song, at the surface level, is about a group for friends who are a little older than they used to be, getting together for a big party at one of their houses. They're determined to make it an all-nighter, just like they always used to do. And that's how it starts.

However, as the party goes on it's just not the same as it used to be. The drugs run out, the party starts to lose momentum. The party-goers are trying their best to pretend that it's not happening, because it would be like admitting defeat, but the party just never really gets off the ground like it used to. Sometimes it happens at parties. It's a weird phenomenon.

Interspersed with this story of a bad party is the idea of getting older and reaching the end of a stage in your life. The song talks about the idea that when you're young you spend years trying to reach adulthood, then you spend years trying to fit into it, and in that process you lose some of your wild youth and spend years trying to recapture it. It's like the start of a mid-life crisis.

The party is a point where the narrator (Murphy) is realising that no matter how hard he tries, life has moved on and carried him with it. You grow up, have kids, holiday in France and all of a sudden you're like "hey, where did my youth go? Where are my friends tonight?" He's realising with a hint of sadness that this could be the last time they're all together like they used to be. However, he's looking back and thinking that it was all worth it for the memories and the great times they all had.

It's a beautiful and sad song. It sucks to grow up and it's easy to feel like something has been lost as you do, but everyone has to do it, no matter how hard you try to deny or ignore it. The failed party is an allegory of this. And like the narrator in the party, you just no when it's time to move on to the next stage of your life. In the words of Ron Burgundy "We've been coming to the same party for 12 years now, and in no way is that depressing."

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