Party all night?

He's not saying "dont enjoy life, you must work hard and have 0 fun until you are exactly where you want to be, then you can have fun" he's saying "if you really wanna graduate from High School, or college, or get that new job/promotion/etc. maybe you should stay in and study over the weekend instead of going out every night to parties and then complain about where you are"

Probably not.

Don't think its that exactly, but he did indeed tell a group of kids something along those lines. Google "what is it you're celebrating" and a video of TI should pop up.