VCs responsible for growth at all costs culture at startups: Narayana Murthy

Linking the VC investment model to a Ponzi scheme, Infosys cofounder N R Narayana Murthy has blamed venture capitalists for encouraging the culture to chase growth at all costs among Indian startups. “I would hold venture capitalists responsible who propounded the theory that only the topline is important and not the bottom line. I think that is completely wrong. In many ways, it looks like a Ponzi scheme,” said Murthy.