Skin in the game is a very simple and powerful concept:

• builders in ancient times were responsible for the quality of construction work, if a bridge collapsed the builder and their family would suffer big consequences
• Leaders used to lead the troops on the battlefield, how many bureaucrats would start wars if they or their kids would have to fight in the front line
• actually many CEOs get paid in stocks to reduce their tax liabilities (capital gain < income tax) so they have skin in the game which many have abused with heavy borrowing, stock buybacks to boost stock price at the expense of long term investments in their company
• sending their in the school they teach in would probably improve the overall quality of education