To watch a thousand lemmings plummet just because
The first one slipped

from Aesop Rock – 9-5'ers Anthem Lyrics on Rap Genius

Meaning

Conformity in a group, “If your friends were jumping off a bridge would you follow them then?” A loss of identity and submission to group mentality even if it’s clearly in a negative direction.

Additionally, if the first one slips, they initiate a series of reactions based on an initial mistake. He is also saying that people miss the reasoning behind their actions and just follow what they see.

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