Counterexample: I've never gotten a single job through nepotism and references, and I'm in my mid-40s. Indeed, I just got a new job—on a different continent!—this year by applying blind, interviewing well, and impressing them with my actual skills and knowledge. Didn't know a single person here, didn't get recommended or introduced by anyone.

Perhaps it makes difference that my jobs have not been in "the tech industry"—they've all been technical jobs within non-technical organizations (mostly in higher education).