Venture Capitalists Think Only Top-Line Start-Ups Are Important, It's Like Ponzi Scheme: Narayana Murthy
ABP NewsInfosys Co-founder N R Narayana Murthy on Thursday said that venture capitalists who propounded the theory that only the top-line Start-ups are important and not the bottom line looks like a ponzi scheme. Speaking at a fireside chat at the Nasscom Technology and Leadership Forum 2023, Murthy also blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said that the venture capitalists who fund start-ups as well as their boards of advisors and directors must advise them to tolerate delayed gratification and to understand that short- to medium-term sacrifice would result in long-term gains that are significantly greater. Murthy's remarks against venture capitalists come at a time when the Indian startup sector is experiencing a funding winter, which has caused businesses to place more emphasis on profitability than just growth.
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