Hang by a thread and Take on

Hang by a thread verb - Depend on a small thing or be at risk.

Take on and hang by a thread are semantically related. in take a chance topic. In some cases you can use "Take on" instead a verb phrase "Hang by a thread".

Take on verb - To enter into contest or conflict with.

Hang by a thread and take on are semantically related. You can use "Hang by a thread" instead a verb "Take on".