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The show opens much the same way at first glace a vistor from otl might not notice until the song 38 special song "Hold on Loosely" comes on in the car we can see the cast in clothing from the start of the 80's.
The show that we know of as that 70's show is rather set in the early 1980's rather than the late 70's.
The cast is set at the same ages and many of the plot lines are similar.
The shows "ends" with the late 80's with the graduation of the cast from college.