I thought this film captured the feel of SoHo and the downtown art scene in 1980's NYC. (I lived in NYC from 1986 until 2001.) I really like the untethered, free-spirited, and dangerous elements of Basquiat's character. The movie doesn't fit into the film school model of a perfectly constructed piece, but I find that appealling; the film is artful and enjoyable. I watch it whenever it shows up on one of the film channels unedited and uninterrupted. Hope you enjoy it as well.
