mumbai infosys cofounder n r narayana murthy on thursday compared the focus on revenues without giving adequate attention to the bottom lines and the valuation jumps of startups thereof to a ponzi schemehe said the blame for allowing such a system to flourish lies with the mature venture capital funds and a companys board of directors and not with the young entrepreneursspeaking at a nasscom event murthy said infosys itself had to make a lot of tough calls for the longer term benefits and asked vc funds to be open and honest about speaking about thingsin a cycle of increasing valuations with repeated funding rounds the price a company is available at keeps on going up till a setback or an impact arises due to any event and all falls down murthy saidspeaking about the impact on demand for it companies amid a global macroeconomic environment saddled with negatives murthy told reporters that indian technology companies have always benefitted in times of difficultieshe also said that generative artificial intelligence platforms like chatgpt will not have any impact on indian it jobs because of thosemurthy said he has himself tried such platforms and added that concerns about the impact on jobs were also raised in the 1970s when computers had arrived on the scene