How much do you value small talk?

Do you think it is a waste of time if your whole/most of the convo is gossiping and not talking abt serious issues, like current affairs? Not bragging about being serious btw and hence I'm asking this question just to get different perspectives.
What is good about small talks?
I usually start off with small talks to get to know/update each other but after around 3 replies I go extensively into more serious stuff, maybe start from what they have said (aka follow-up questions). Oh, and it can still be relaxing, depending on your mentality.
Also, when first meeting someone, I am afraid of asking questions that are too personal after some time, so I tend to ask some "world" issues, or at least not personal. Are there any small-talk senpais who can teach me how to small talk but not gossip because I've tried and bored them off?