[tptacek]

Can you clarify this by citing a specific example where a board member or executive of a privately-held company recused themselves from a recruiting decision because of a conflict of interest concern?

Could you describe more fully a case where a nepotistic hire was made at a company you have first- or second-hand knowledge of where the impetus for that hire was an outside investor? I have for-sure seen crappy and nepotistic hires at startups. That's a banal observation. What I haven't seen is quid-pro-quo.

Further: your claim wasn't simply that there are nepotistic hires (again, of course there are; banal claim) --- it's that the quid-pro-quo for those hires was commitments to subsequent mergers/acquisitions activities. That is an extraordinary claim and one I think you're unlikely to be able to back up, but, I mean, prove me wrong.