As released by Elliott Smith’s former record label, Kill Rock Stars, the alternative version of Alameda include altered lyrics that give a new perspective on the song.
In the chorus Elliott gives a clearer depiction of the heartbreak he has caused himself:
See what you’re gonna start
All your good at now is breaking your own heart
Furthermore, the starting lines of verse 3 indicate that Elliott is referring to the affluent neighborhood of Alameda in Portland, the city in which Elliott spent most of his young adult life.