Venture-backed IPO recession?

This BusinessWeek video clip points out that there were only 5 venture-backed IPO's in the first quarter of 2008 and ZERO venture-backed IPO's in the second quarter. The VC's blame Sarbanes-Oxley, picky entrepreneurs and globalization as the cause and suggest that we make a concerted effort to save venture capital by raising awareness and easing some expensive accounting requirements.

Hat tip to Barry Thornton