Does "You won't break it" has the same meaning as "You have nothing to lose"?
This is just a little bit of humor on the speaker's end. He's telling Gene to "shake it," telling him that he "won't break it" means that he/nothing will get hurt from just dancing, so to just dance as hard as he can. It's more similar in meaning to "go for it" or "let loose" than "you have nothing to lose." You can see people occasionally using the expression "you won't break it" to imply that one doesn't need to control their strength when doing an action. Ex: Kick the ball as hard as you can! Don't worry, you won't break it. Ex: Go ahead, attack that punching bag! It won't break.
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