[i_am_a_squirrel]

no no, the last late person to join is the one that causes the meeting to start. They are crucial.

If everyone showed up on time, the pre-meeting chit chat would have no natural boundary and could extend indefinitely.

They also take the pressure off of the people who care since they know there is leeway because at least you'll never be as late as "that person".

It's totally natural and beneficial and a treasured part of corporate culture.