N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. “I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. “I think that is completely wrong. In many ways it looks like a ponzi scheme.
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