A main component of The Great Gatsby is Adultery. Tom and Daisy are in a committed relationship with each other, yet, Tom is in another relationship with Myrtle, and Daisy is in one with Gatsby. however, Tom does not want to leave his wife, he just wants Myrtle to stay his "Dirty Little Secret". This holds true with Daisy and Gatsby, as Daisy does not want to leave Tom. Furthermore, when Tom got into a fight with Myrtle about Daisy, Tom did not want Myrtle to talk about his wife Daisy, which shows Tom wants Myrtle to not "tell anyone, or [she'll] be another regret"
During the Roaring Twenties, parties were held from left to right. Jay Gatsby did the same. He was known for his big, lavish parties, where many people, both invited or uninvited, attended. This song says to 'show off to all your friends' & Gatsby does so through his parties. It also mentions about 'trophy boys' which are his extravagant items in his home. However, the real reason for his parties, was for Daisy to come to one and be impressed with Gatsby.
Many rumours surround Gatsby's true identity - did he actually graduate from Harvard? Did he actually participate in the war? Nick tells us in one of the chapters of the truth of Gatsby's history - not the rumours, nor Gatsby's take on it, but the truth. Many people wonder about the history of Gatsby, even to the extent of a reporter coming to his mansion to get an interview on him. This song represents the rumours surrounding Gatsby by saying "I know they've all been talking 'bout me". Gatsby also tries to live in his past, because Daisy loved him in his past, so he's trying to rekindle their love by doing that, however, Nick warns him he cannot live in the past. Gatsby refutes this, and the song parallel's this when "Soon you'll see me as how I used to be".