Ah, the good old days of disco and New York’s Studio 54. Co-founders Ian Schrager and Steve Rubell bought and renovated an old CBS studio (called then Studio 52) on 54th Street. Studio 54 opened in April 1977 and was an instant success. Why? This was a place where gay people felt safe to be themselves. Gays, lesbians, drag queens, cross dressers, anything goes. And you could not get admitted unless you were famous. We see a lot of photos with Andy Warhol, Liza Minnelli, Elizabeth Taylor, Mick Jagger, Truman Capote, and even Margaret Trudeau. It was THE place to be. The documentary is interested as much with the lives and friendship of the owners than with the Studio. Schrager met Rubell in college and they became lifelong friends. The fact that Rubell was gay was not a problem with Schrager, and it gave them an idea for a new concept for a disco club: diversity. But there was also drugs and liquor sold without a licence. Schrager and Rubell were investigated by the IRS, they pleaded guilty to tax evasion and spent 13 months in prison. The life of Studio 54 was short. In February 1980 it was over. And soon it would be over for disco too. Later Schrager and Rubell had other business opportunities. And then Steve Rubell died of AIDS in 1989. Ian Schrager still remembers his good friend. Ah, those good old days of disco.