Supposedly Baker St is about Gerry hanging out in the evenings at fellow Scotsman Billy Connelly’s house in London, where during the day Gerry was struggling with lawyers and whatnot to get him out of the Stealer’s Wheel contract. In Baker Street’s lyrics, the guy who has the “dream about buying some land, he’s gonna give up the booze and the one night stands” might be Billy. The guy at the end of the song where it says “you’re going, you’re going home” might be Gerry, freed from his contract and able to pursue his solo career.