The definition of nothing to lose is:
(idiom) you should take a risk, because things cannot get worse
A: Should I quit my job and start my own business?
B: I don’t know, do you like your current job?
A: No, I hate it.
B: Then you’ve got nothing to lose. I say you should do it!
A: I want to go talk to that girl, but I’m too shy.
B: You should do it, what could possibly go wrong?
A: I don’t know!
B: Come on, you’ve got nothing to lose.
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