Venture capitalist Bill Gurley sees a lot of entrepreneurs who get it right — and those who get it wrong. And he has a warning for anyone eyeing a Silicon Valley investment.
"The one thing I would remind anybody who's thinking about getting into late-stage unicorn investing right now: You are the lender of last resort," Gurley told CNBC's "Squawk Alley" Wednesday. "They are coming for you, so pay attention. Caveat emptor."