Lyric discussion by Perhaps Pan 

Cover art for NYC-25 lyrics by Olivia Tremor Control, The

I'm just going to go ahead any say that it's about self-responsibility.

"and don't forget you're the only one (you're the only one) you hold your kite on a string"

You control your life completely. They remind us to not sleep to long, because there is an apparent reality.

There's probably something else in there about realizing dreams.