In the fictional world of Daisy Jones & The Six, Billy Dunne writes this song for Daisy Jones after finding her extremely intoxicated in a party hosted where she had been staying. In the book, unlike in the show, he went to check on her with her manager and left almost immediately after laying eyes on her:

“Billy: I couldn’t stay. I couldn’t stay because when I looked at Daisy, wet and bleeding and out of it and half-near falling down, I did not think, Thank God I stopped using.
I thought, She knows how to have fun.”

Billy had gone to a rehabilitation center for his addiction, but the allure of all the drugs at the party kept haunting him even when he had gotten home.

“I kept wondering what I’d be doing that very moment if I’d taken the whiskey out of that man’s hand. If I’d poured it down my throat.”

In his restlessness, he writes this song. It’s about Daisy and about the world of drugs he had fought so hard to step out of—how he feels like he still has a foot in, and how fully immersed Daisy is. His feelings for her and their chemistry lie in the “what if” and the terrifying but exciting potential of their bond, which, through the lyrics, can also be interpreted as the push and pull of the alcohol that destroyed his life. He says Daisy is “More fun to miss” as in dream of being with, pining after and fantasizing about, than to actually be in a relationship with—much like the constant fight that is becoming and staying the man his wife, Camila Dunne, wants him to be.