Does "the flip side" refer only to the negative aspects of something?

I understand that the expression "the flip side" is generally used to refer to the "negative" aspect of someone or something.

I think the expression comes from the meaning of the "flip side (of a gramophone record) from 1949." (etymological online dictionary)

Why is "flip side" often used to suggest a negative connotation? Can it be used to convey a positive aspect?

Solution 1:

The flip side means — TFD

(Music, other) another term for B-side

Now B-side means — TFD

n (Music, other) the less important side of a gramophone record. Also called: flip side.

It is the less important side because it has the relatively bad songs. That's the main idea.

However, "the flip side" can also simply mean "on the other hand". The good and bad sides are inseparable, as in the two sides of a coin. If you first talk about the negatives, then "the flip side" will be the positives. It is rarely used this way, though.

a different aspect of something (especially the opposite aspect)

Note: You can say "the flip side" even when in doubt which aspect of something is good or bad. It's better to use "the bright side", "the upside", etc. to make sure you're referring to a positive aspect of something.