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I'm very aware that these policies exist, and I'm certain the CEO of Nvidia was also aware. That he decided to circumvent them says all you need to know, really. Even if it's consensual, what happens when she decides she wants to move on from the relationship? What about her peers that didn't receive promotions while she did? This is why these laws exist.
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Your hypothetical makes zero sense as your questions have simple yes/no answers.

> Even if it's consensual, what happens when she decides she wants to move on from the relationship?

Then they're no longer in a relationship and still have to follow HR/company policies.

>What about her peers that didn't receive promotions while she did?

Did they follow the company policy (e.g., hiring committee recusal) or not for the promotions?

>This is why these laws exist.

Did the company policies follow employment regulations when setting and enforcing their policy?

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The implication here is that they didn't follow company policy or else this wouldn't be an issue. HR would have said, "Yes we're aware of the relationship, all of our policies have been properly followed in relation to it." The fact that we're not hearing that means the answers to all these questions don't have pretty answers.
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Well, I guess they should fire her, then.
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To be honest, even with those policies, a supervisor-subordinate relationship can be problematic. There is an undeniable power dynamic at play, so even when it looks consensual it's hard to be sure. I'm not saying it wasn't consensual in this case, but when person A can impact the future of person B, person B might feel coerced to "consent".

Anyway, not sure if that's the case here but it's hard to rule out entirely.

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I think we can all read between the lines that no such thing existed in this case because he was married.
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Interestingly, no!

These policies are intentionally narrowed to workplace conflicts of interest. HR doesn't want to manage morality clauses or stuff outside the workplace.

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