Means that a person is overreacting and should not be so angry or sad at the problem that has occurred. When this slang or phrase has been said, it means that humanity will not end; you will survive; nobody is dead.
Man 1: Don’t vomit everywhere!! It’s nasty and gross!!
Man 2: You’ll live
when someone overdramatizes something…
“OMG THATS NOT HOW U SPELL/SAY HER NAME! 😡😡😡😡”
“you’ll live” / she’ll live