I think it's sort of intended to be insidery. Everyone scratches each other's back. It's kind of similar to the dynamic of investors in hot tech companies, where people have a network of contacts they can leverage, etc.
It's really a perfect trifecta of CEOs, board members, and investors all being each others CEOs, board members, and investors. To put it in Bill Burr's words,"It's a big CLUB. And YOU AIN'T IN IT."
> To put it in Bill Burr's words,"It's a big CLUB. And YOU AIN'T IN IT."
Pretty sure that's actually a George Carlin line, from a relatively famous routine of his. Many, many clips, but here's a random one: https://www.youtube.com/watch?v=cKUaqFzZLxU