The IRS arrest Steve (Mike Myers) and he goes to jail for a year and a half. Some time later he sells Studio 54 to some big companies and he becomes a consultant. Anita (Salma Hayek) releases an album but some people think it's "too disco." Shane (Ryan Philippe) goes to classes at NYU during the day and manages a restaurant at night. Greg stops dealing drugs and gets a job in construction. Steve throws a welcome back party and Greg, Anita and Shane reunite. Studio 54 closed its doors in 1986. Steve dies in 1989 at the age of 45.
Continuity mistake: When Shane first gets into Studio 54, he is told to take his shirt off. He pulls it over the top of his head. Then he walks in holding it and even though he never unbuttons it, it is somehow unbuttoned when he puts it on again.
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