The song is about the singer's disillusionment with Elvis Costello as a musician. He talks about how he used to be a big fan and followed him through his various albums, but eventually grew apart from him as he felt that Elvis had become more concerned with image and pretense than with authenticity and connection to his audience. The singer references specific albums and songs that he feels exemplify this trend, such as "Goodbye Cruel World" and "Trust," and talks about how even though he appreciated some of the music, he could no longer relate to Elvis as a person or artist. The chorus is a repeated refrain, with the singer simply stating that he no longer loves Elvis. He talks about how he bought all the reissues and read all the interviews, but found that Elvis's words and actions only confirmed his disillusionment. The song also touches on the idea of growing apart from someone you once admired and loved, and the pain and inevitability of that process. The singer acknowledges that he and Elvis had a shared history (going back to "Brutal Youth"), but that they have now grown too far apart to continue their relationship. Overall, the song is a critique of the commercialization and image-consciousness of the music industry, and a lament for the loss of a once-beloved artist.