2:45 AM by Elliott Smith dives into themes of loneliness, regret, and introspection. The song explores a late-night moment filled with self-reflection and emotional vulnerability. Through poetic lyrics, Smith conveys the haunting silence of the early morning hours and a deep sense of yearning for connection and resolve. Key poignant moments include his musings on past mistakes and the desire for redemption. The melancholic melody complements the introspective nature of the lyrics, painting a vivid picture of his emotional state.