To go so far that something good starts getting worse.
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To do something so desperate that a good thing starts going downhill for good.
When a show or a brand jumps the shark, it has crossed a line it can't come back from.
The phrase comes from a TV moment where a character jumped a shark on waterskis.
"Go Off the Rails"
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To lose control and start behaving in an unpredictable way
"Lose the Plot"
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To lose focus or start behaving irrationally in a situation
"Jump the Shark"
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A permanent drop in quality or trust