It’s a useful component in the mix but it has serious disadvantages.
some years ago, the insurance house Lloyd’s of London became involved in a major crisis. Their essential business model consisted of underwriting potential losses by the formation of “Syndicates” of “Names” (essentially, members without limit of liability) who offered their personal assets as guarantees.
What developed was a two-tier system, in which those regularly working in the building developed much better general knowledge of the nature and magnitude of the risks they were underwriting, then those not regularly present and in some cases, not regularly involved in underwriting at all.
This led to a serious erosion of the quality of decision making in some cases, and Names being placed under severe strain or bankruptcy as events unfolded. Lloyd’s eventually changed the system to prevent this happening in future.
It’s also a hopelessly ineffective means of training staff, and not much of a system for managing the more-or-less productive staff with few real prospects which any business necessarily contains - people who do enough to get through the day, or just need supervision because they don’t have enough motivation or aren’t sufficiently organised on their own.
My elder son’s company has just let someone go, like that. He was ok in the office, with a team around him to set the pace, and not let anything slip too far - but WFH, he simply didn’t justify the effort of getting work out of him. His duties have been split between two or three contractors as required, and he was let go.
. So I never use it in meetings and only use the various images pulled from the internet.
