It doesn't really matter if you lead or follow
Your position in society, your job, and your social circle don't really matter in the grand scheme of things. You can still find happiness regardless of whether you lead or follow.

Everybody's laughing like there's no tomorrow and even if there was Would you still go following your friends?(following your friends)
People are enjoying life to the fullest and are living in the moment, but it's important to question whether the decisions you make in following your friends are actually good for yourself and align with your values.

I don't care where we went wrong We're still singing those same sad songs "It's my life, not your life, I'll end it when I want"
Even though things may have gone wrong somewhere down the line, we can't change the past, and we're left singing the same sad songs. We have the right to make our own decisions and control our own lives.

And now I'm off to save the world once again But I don't know how I'll pull it off this time I think I'm going to drown Now he's off to save the world once again But he don't know how he'll pull it off this time I just know I'm going to drown
No matter how much we try to change the world, it can be overwhelming and seem like we're drowning in the chaos. We may not know how we'll pull it off this time, but we keep trying anyway.

Stop! "Look and you will see" is what I think she said to me I'm not too sure because it could have easily been a million things But I don't know what she said I still don't know what she said Years passed since I've seen her face 14 years were just erased If my life was your life, would you ever take it back?
Sometimes we miss the big picture because we're too focused on the details of our own problems. We may remember pieces of advice from loved ones, but we forget the context and true meaning. Time passes quickly and memories fade, but we question whether our own life is worth living when compared to others'.

Yeah you will try to explain as the blood leaves all your veins And you can't think of anything that you would change
As life slips away, you try to make sense of it all and come to terms with your own mortality. Despite all the pain and regret, you can't think of anything that you would change.

And it's the saddest song you'll ever hear The most pain you will ever feel But you grit your teeth because it don't get better than this (know this) And you'll try to explain as the blood leaves all your veins And you can't think of anything that you would change
This is the epitome of sadness -- a song that will make you feel the most pain you've ever experienced. But at the same time, it's a reminder that life is worth living, and you continue to strive and live in the moment even in the face of death.