The poem reflects on the disillusionment that comes with age, particularly about the inconsistencies of life and the unpredictable fate of individuals. Yeats contrasts young men's naivete with the wisdom of older individuals who have seen how chance can derail even the most promising lives. He uses examples such as a promising young man who becomes a journalist and a learned girl who ends up with an unremarkable partner, illustrating how life can take unexpected turns that often defy expectations.

Furthermore, the poem suggests that society often overlooks the complex realities of personal journeys, where fortunes can shift dramatically. Observing the world, older men realize that despite aspirations and beginnings, many do not end up with a fulfilling conclusion. The melancholy understanding that not all stories conclude happily contrasts the hopeful perspectives of youth, offering a deeper commentary on the human experience, as articulated through Yeats' poignant observations.