Yep, 'I' is 'It Just might be a One Shot deal' from "Waka Jawaka".
At first I thought this was about record deals, then one-night stands, now life. Such a great song!
There is no past, there is no future, there is only the now. Sure, we all have a past, we learn from it, and sure, we're all going somewhere, but it hasn't happened yet. Use the now to get there.
And use the now to hear this song on youtube :-)
WARNING: If you live in the UK, copyright issues may not allow you hear this, so go find someone to play it for ya :-) (hehe)