What does "skin" or "skin in the game" mean in the following sentence? "make sure that everyone has skin in the game".
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The phrase skin in the game is an idiom referring to effort, money, or other risk invested in something that could be potentially painful if it goes wrong. It is synonymous with the expression stake in the game.
According to this source, skin can be interpreted as "a metaphor for being committed to something through emotional, financial, or bodily commitment", or "a synecdoche representing the whole being".
Consider a pig and a chicken who are contemplating jointly opening a breakfast restaurant, serving primarily bacon and eggs.
The pig complains that the chicken will only be involved in the venture, whereas he will be committed. The pig, in this case, has skin in the game.
I think you are referring to:
Warren Buffett talked about "putting skin in the game" in reference to managers and high officials showing their confidence in the company by putting their own money (their own skin)in. This, in turn, builds investor confidence. It has become almost a cliché, as Warren Buffett's reputation is itself a confidence builder.