Fail, especially in a public performance; make a humiliating error. For example, Carol really laid an egg last night when she forgot her lines, or, as Variety had it in October 1929: “Wall Street Lays An Egg.” The term originated in the late 1800s in vaudeville and was extended to nontheatrical failures in the early 1900s.

To fail, or to have one's efforts fall flat: “Jim tried to tell a few jokes, but each time he forgot the punch line and laid an egg.”