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Cheap Trick – Surrender Lyrics 14 years ago
Whatever happened to all this season's losers of the year?
Ev'ry time I got to thinking, where'd they disappear?

This is probably the hardest part to interpret. Well, what's a "loser of the year"? To me, it sounds like something kids call someone at school. For example, "check out that dweebus Marsha, she's got to be the loser of the year". The "season" probably refers to the school semester, the school year, session, or whatever. It implies that every semester there was a different "loser of the year"; it wasn't always the same person. Now he's wondering, what ever happened to all those people, all those "losers of the year"?
Many of them, of course, grow up to be normal, everyday people, seemingly like his parents...

The "surrender" part probably has multiple meanings, along the lines of (1) You have to grow up someday, so accept it (2) you're going to end up like your parents, more often than not (3) You are who you are, so best to accept that and learn to love it.
The "don't give yourself away" part is almost a plea to the listener to remember his/her childhood and younger years and to stay true to the boundless dreams of our youth...or somesuch poetic gibberish


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