This movie begins the back story of anakin skywalker and obi wan (amongst other characters).
This movie has received a lot of criticism over the years, including some recently with the release of Ep 7 in the franchise (although to be honest I won't ever count that as canon.
Having just seen The Force Awakens I had to come home and rewatch this. It is certainly not a perfect movie, some of the dialogue is awkward and George Lucas has tried to explain stuff that didn't really need explaining and it's a bit too 'american pop culture' in parts for me but the story is good.
The story of Anakin being taken away from his mother (albeit with good intentions) is a good story and the young actor who plays him is quite likable. Natalie Portman is great.
All in all a much better movie than it is usually given credit for
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