With all due respect I think some on here are taking it too literally when they attribute the meaning to a simple love relationship between a couple. I totally agree with those who interpret it as alluding to the "fleeting nature of fame." That is, how the Eagles were top-dog once, but that it could change in a heartbeat as soon as a "new and hotter" act comes to town. The Eagles were the original "Johnny come lately" new kid, spoken of in the opening lyrics, then along comes another "new kid in town." ("where you been lately, there's a new kid in town...").
With all due respect I think some on here are taking it too literally when they attribute the meaning to a simple love relationship between a couple. I totally agree with those who interpret it as alluding to the "fleeting nature of fame." That is, how the Eagles were top-dog once, but that it could change in a heartbeat as soon as a "new and hotter" act comes to town. The Eagles were the original "Johnny come lately" new kid, spoken of in the opening lyrics, then along comes another "new kid in town." ("where you been lately, there's a new kid in town...").