skin in the game

Attributed by some to Warren Buffett, but Buffett has denied this.[1]

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skin in the game (uncountable)

1. (idiomatic) A stake; something at risk, especially with regard to money and investments.
   • 1988 April 4, Alan Alper, “Inertia often stifles new technology”, in Computerworld‎, volume xxii, number 14, page 67:

     Companies must obtain accountability across all business functions if they are to harvest the fruits of technology. "Let everyone have skin in the game", Rogow said.

   • 1991 August 26, Edmund Faltermayer, “The Deal Decade: Verdict on the 80's”, in Fortune‎, pages 58–70:

     Says Bergsma: "We were flooded with financial types who didn't have their own skin in the game"

   • 1992 June 18, Associated Press, “Perot's campaign is wary of fund-raising operations”, in The Sun‎, San Bernardino, CA, page 22:

     [Ross] Perot has told people they can send $5 if they want to have "some skin in the game" but he does not actively solicit contributions and says he will finance his own campaign.

   • 2009 December 18, Megan McArdle, “How Big a Problem is Moral Hazard?”, in The Atlantic‎:

     Supposedly, ordinary depositors don't bother to check the soundness of their banks because they don't actually have skin in the game.

   • 2022 May 18, Adrian Chiles, “The closer your team gets to glory, the less likely you are to get a ticket. That can’t be right”, in The Guardian‎:

     At Wednesday’s Europa League final, more than half the tickets have gone to corporate guests and others with no skin in the game.

• no skin off one's nose
• no skin off one's back