This was the pilot for a proposed spin-off focusing on Lily's teenage years which never materialised.
The band playing at the concert is No Doubt.
This episode features the band No Doubt covering Adam and the Ants' "Stand and Deliver". The song is playing in a club in one of Lily's flashbacks.
After the punk band (No Doubt) in the 80's flashback play the song Stand And Deliver, the prom band, in the present, plays an acoustic version of the song.
This episode has four people who have also appeared in Veronica Mars (2004). Leighton Meester played Carrie Bishop in several episodes, Krysten Ritter played Gia Goodman, Ryan Hansen played Dick Casablancas and the series' narrator Kristen Bell played Veronica Mars herself.