"As a scholar of Smash Mouth, I think there's a disagreement over what mugged means here, and we might actually have the same base idea. It's getting jumped, beat up, etc. It might not necessarily mean being targeted because he has something of value. The wise person says "Hey you, the way you're going, the world (that is life) is gonna catch you up and knock you down" to which the speaker replies "You know, I know that I'm dumb and that people think I'm dumb. But this doesn't bother me" What he knows is that he has to "hit the ground running," he needs to stay ahead of both the world and be prepared for one it does catch up (since the years don't stop coming). He may get knocked down by the world, but that shouldn't stop him from being who he is. That's why he explores the backstreets, and tries new things. Because he isn't afraid of the world. He's a rock star, an all star.
The second verse calls back to this imagery. The world getting cold is the same idea as the world rolling him. It's an unfeeling place. Yet as he says "the meteor man begs to differ, judging by the hole in the satellite picture" In the same way that he isn't afraid of the world rolling him, he is doesn't believe that life gets harder the longer it goes on. In fact, if the ice is going to break, might as well take it into your own hands and jump in the water on your own terms. It's a song celebrating individual freedom. It's an existentialist love song.
