

"I was completely devastated when she took off," Buckingham noted.
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Buckingham wrote "Go Your Own Way" as a response to his breakup with fellow Fleetwood Mac vocalist Stevie Nicks, whom he had known since he was 16 years old. Like most tracks on Rumours, the lyrical content of "Go Your Own Way" documents personal strain in relationships between band members. Producer/engineer Richard Dashut argued that they would not have encountered this "lucky mistake" had they mixed the song digitally. In the final mix, the kick drum became too overpowering at the end of the song it created a pumping effect together with the rhythm guitar from the dynamic range compression. A Shure SM57 microphone was used to capture the guitar solo in addition to some vocal tracks. Caillat found the solo "seamless" despite its fragmented nature. He accomplished this by pulling up individual guitar solos through faders, which he would mute after bringing up the next fader. Caillat built the solo by piecing together six different lead guitar takes.

The band had a difficult time assembling a suitable guitar solo, so Caillat, who was away in Lake Tahoe for Christmas vacation, was called to return to Criteria Studios to finish the track. The song follows an aeolian I-VI-VII descending chord progression. Additional overdubs of Hammond B3 organ, electric and acoustic guitars, layered backing vocals, and assorted percussion such as the bell of a cymbal and maracas were also added to the mix. Buckingham granted McVie more artistic liberty on the choruses, which he opened up with a more melodic bass line. To prevent the verses from becoming too bloated, Buckingham asked him to straight eighth notes along with the rhythm guitar. Initially, John McVie tracked a busier, and bouncier bass part that gave the song "a country feel". Mick wasn't so sure he could do what Lindsey wanted, but he did a great job, and the song took off." Fleetwood would ultimately come up with his own variation of the "Street Fighting Man" groove, where he played across the tom-toms while letting the bass drum play the middle beat.

"I remember watching him guide Mick (Fleetwood) as to what he wanted – he'd be so animated, like a little kid, playing these air tom fills with his curly hair flying. Ken Caillat, Fleetwood Mac's producer, took notice of Buckingham's enthusiasm as he demonstrated the drum part he envisioned to Fleetwood. On "Street Fighting Man", the drumbeat alternates between the tom-tom and the snare drum, which Buckingham wanted Fleetwood to play on "Go Your Own Way"'s verses. Inspired by the drum feel of " Street Fighting Man" by The Rolling Stones, Buckingham sought to incorporate a variation of the groove in "Go Your Own Way". While Buckingham and Nicks were still on speaking terms, their conversations often devolved into yelling and screaming matches. By 1976 the romantic relationship between Stevie Nicks and Lindsey Buckingham had come to an end.

In what he described as "a stream of consciousness", he sang the opening line, "Loving you isn't the right thing to do". The first song Buckingham wrote for Rumours, Buckingham picked up an electric guitar and chugged the chord progression. Mick Fleetwood, the band's drummer, remembered that the house had a "distinctly bad vibe to it, as if it were haunted, which did nothing to help matters…". "Go Your Own Way" was written at a house the band rented in Florida in between legs of their Fleetwood Mac Tour. Like many other Rumours tracks, "Go Your Own Way" was partially recorded in Sausalito's Record Plant, a wooden structure with few windows, located at 2200 Bridgeway.
