The rates of elementary photophysical processes in nanocrystals, such as carrier cooling, multiexciton generation, Auger recombination etc., are determined by monitoring the transient occupation of the lowest exciton band. The underlying assumption is that hot carriers relax rapidly to their lowest quantum level. Using femtosecond transient absorption spectroscopy in CdSe/CdS nanodots we challenge this assumption. Results show, that in nanodots containing a preexisting cold "spectator exciton", only half of the photoexcited electrons relax directly to the band-edge and the rest are blocked in an excited state due to Pauli exclusion. Full relaxation occurs only after˜15 ps, as the blocked electrons flip spin. This requires review of numerous studies unaware of this ubiquitous and novel effect, which may facilitate hot carrier energy utilization as well.arXiv:1809.08581v2 [cond-mat.mes-hall]