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Adults Are Useless: All the adults except Carl's mom are cool with the seniors hazing the incoming freshmen. Tony comments on this.
Advertised Extra: Milla Jovovich's character has very little screentime for someone who appears on both the movie's poster and home video covers. All the more strange is that Jovovich wasn't even all that famous when the film was released.
Could be explained by her modeling career and handful of roles in films like Kuffs and Return to the Blue Lagoon. Jovovich was possibly the biggest star in the cast in 1993.
Deliberate Values Dissonance: Hazing incoming freshmen on the last day of school was frowned upon in 1993 (as it still is today), and the movie seems to toy with the audience's modern day sensibilities whenever it's depicted. But in the film's 1976 setting, it's seen by the characters as just another traditional rite of passage.
...and remember to get plenty of calcium. It's important for pregnant women to get plenty of calcium.
- Store clerk, to pregnant customer buying liquor and cigarettes.
He later tells her, "See you again tomorrow."
Ephebophile: Wooderson, arguably the movie's most famous, or at least most memetic character. Provides the former page quote:
Wooderson: That's what I love about these high school girls, man. I get older, they stay the same age.
Erotic Dream: Tony tells Mike about a rather disturbing one.
Tony: So there I am, getting it on with this perfect female body, and...
Tony: I can't say.
Mike: No, you can't give a build-up like that and not deliver. You know, a perfect female body, it’s not a bad start.
All the male hazing seniors are this to a lesser degree, except Pink. O'Bannion is notable for being the most sadistic, and unlike the others, he does not accept the younger kids once the initiation is through.
Laser-Guided Karma: Vicious Bully O'Bannion gets his from a group of freshmen with buckets of paint.
Except deliberately not if you listen to the commentary. While American Graffiti had a specific plot and attempted to be "the ultimate '50s movie", this film was about just some night and just some party. If anything, it's more like SlackerIN THE SEVENTIES.
Wild Teen Party: Initially subverted, as the keg delivery guy comes early, tipping off Kevin's parents. But later played straight: there is in fact a wild teen party, but it happens out in the woods, away from houses and parents.