- Billy bounces back to 1961, to a New Year's Eve party where Billy is really, really drunk.
- He cheats on his wife (Valencia) for the first and only time, with a woman who's also very drunk, in the laundry room of the house where the party is being held.
- The woman asks Billy why he's called that.
- Billy says it was a business decision of his father's: Billy is more memorable than William; it's rare to meet a grown-up Billy; and it also makes people think he is a friend of theirs right away.