Over the past several year years, private tech company valuations have ballooned amid a flood of easy money. But Silicon Valley investor Bill Gurley is losing patience. It’s like seeing a seventh or eighth year undergrad at the college bar, Gurley said Tuesday at a tech conference in Laguna Beach, Calif. “Everyone is like, ‘What is he doing?” More specifically, Gurley is critical of a growing number of tech companies that have decided to remain private instead of going public or being acquired. In his view, entrepreneurs should almost always work towards an initial public offering. Part of the reason...