Lyric discussion by xLackOfColorHere 

Cover art for Tony The Tiger lyrics by Manchester Orchestra

commenting..again.

"I was alone, so I set a fire and I wasted it all on you."

Fires can be used to catch the attention of somebody to come save you..i.e. you're stuck on an island and start a bonfire so planes passing overhead can find you and rescue you. This guy was lonely and just needed someone to save him. However in trying to catch this girl's attention he wasted all his "signal flares" (i.e. all his energy) on her and now has nothing left for anyone else. He is still suck without her, helpless, and lonely.

I couldnt agree more.