Katie's View
I believe that this song is about that ex-SoCo band member Reuben. Andrew asks "did your stars finally explode?" after Reuben leaves and asks if he ever thinks about how things would be if he hadn't left. Andrew also points out that "big old dreams" like his of being in a band could've been "burned with little flames" such as Reuben's departure. He also explains that little things "won't leave you falling," that dreams are only shattered if you want them to be.
Alicia's View
Little is about dreaming big and being able to do what you love doing and working hard to get there.