There Is Nothing Left to Lose is the third album by the Foo Fighters, released in 1999, following the band's biggest seller, The Colour and the Shape. Their first release on the BMG label, the album debuted and peaked at #10 both in the US and UK, and broadened their fanbase further with such hits as "Learn to Fly", "Stacked Actors", "Breakout" and "Next Year". Many of the songs stray from the band's first two albums because they have a mildly experimental feel. The album is also more radio-friendly, with less abrasive vocals and less angry and aggressive songs than other Foo Fighters albums.

Dave Grohl has stated that the band felt a lack of melody in a lot of music at the time, and that he wanted to just "write some really good songs"

It was the first album recorded with permanent drummer Taylor Hawkins, and last album to not feature permanent guitarist Chris Shiflett. Since There Is Nothing Left to Lose, the Foo Fighters have held up the same line-up.

Early pressings of the disc included a temporary tattoo, similar to the one featured on the album cover. The album was also re-released in 2001 as a two-CD edition which offers a second VCD disc of four videos and one bonus track, "Fraternity." This edition has a picture of the Australian swimmer Michael Klim on the front, chosen because he has a Foo Fighters tattoo on his left shoulder, and has also admitted to be a Foo Fighters fan several times.

Singer/guitarist Dave Grohl has stated before that the album was recorded at his home and that the band would have "a BBQ every day after recording".

This album was the first Foo Fighters album to have a song reach the top of the Modern Rock Tracks chart, with "Learn to Fly." It started a pattern of every Foo Fighters album having more weeks at the top of the chart than the one before it. (There Is Nothing Left to Lose - 1 week; One By One - 10 weeks; In Your Honor - 13 weeks; Echoes, Silence, Patience and Grace - 22 weeks).

The album is widely available as an "Enhanced CD."

The track "Next Year" was used as the theme song to the NBC comedy "Ed".