Mr. Krabs is feeling old and uncool. He overhears SpongeBob and Patrick's plans to spend the night out doing cool things, and Mr. Krabs offers to join them. However, he is severely disappointed with the activities, which include going to the laundromat, picking up trash under the freeway, live action role-playing games, and other such uncool things. Eventually, Krabs snaps, and dismisses SpongeBob and Patrick as "babies." However, he regains interest when Patrick tells him that he will miss the panty-raid. He stays and joins them for the panty raid, only to realize that the house they are raiding is his own mother's house, She sends Mr. Krabs to his room, grounding him for the night as she would a child. SpongeBob apologizes to him through his bedroom window, and Mr. Krabs admits that he is "certainly feeling younger."
I can turn into a skyscraper!
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In some countries, the radio broadcasted the instrumental version of "You're Old," due to the controversial lyrics.
A picture of Victor Krabs is seen when Mr. Krabs tries to explain why he was going through Mama Krabs' underwear.
In the Hebrew version, after Mr. Krabs is being yelled at by the elderly fish, the fish that asks "What's his problem?" says it in Yiddish, a common language between old folks in Israel, rather than in Hebrew.
The radio station mentioned is K-OLD, which sounds like cold.
This is the first time a reference to Dungeons and Dragons is used. The second time is the title of the episode "Dunces and Dragons."
The line "Are you feeling it now Mr. Krabs?" has become an internet meme.
This episode's title is a parody of the phrase "mid-life crisis."
One of the locations SpongeBob and Patrick bring Mr. Krabs in this episode is called "Bunny Bun's," which could be a possible parody of "Chuck E. Cheese's".
"P and P" (seen on book), the game that SpongeBob, Mr. Krabs, and Patrick were playing is a parody to Dungeons and Dragons.
When Betsy grounded Eugene to sleep; Eugene has his room when he was a little kid but this was never shown in "Friend or Foe."
When Mrs. Krabs' bloomers are first seen during the panty raid, they are shaped like normal panties. But when Mr. Krabs pulls one out, it is instantly rather shaped like boxers.
After Mr. Krabs uses the word "coral," Pearl says to her friend Jenny on the phone "Coral is definitely out." However, she continues to use it in later episodes.
A possible reason to this, is this was Pearl's last big role in an episode before 'The SpongeBob SquarePants Movie" premiered. Since the first movie was to be the series finale, Pearl, nor any other Bikini Bottomite, would be in any new episodes after it. Therefore, if the series hadn't continued onward for Season 4, 'coral' would have been out.
During the scene transition from the ice cream stand to the Krusty Krab, bubble sounds can be heard, but no bubbles actually appear. This error also occurs in "Boating School" and "Welcome to the Chum Bucket."
In the Polish version, the title card is cut (probably accidentally), and the episode begins from the opening credits.