The song alludes to Baez's relationship with Bob Dylan 10 years previously. Although Dylan is not specifically named in the song, in the third chapter of her memoir, "And a Voice to Sing With" (1987), Baez uses phrases from the song in describing her relationship with Dylan, and has been explicit that he was the inspiration for the song. She recounts how she originally told Dylan that the song was about her ex-husband David Harris, which was obviously not true. The lyrics, for example, include the lines, "Well, you burst on the scene already a legend / the unwashed phenomenon, the original vagabond..." which would describe Dylan but not Harris.