Will the IPO market ever be the same?

From VentureBeat—this is an outstanding article by serial entrepreneur Steve Blank about the evolution of VCs and the IPO market.  He sees 1979-2000 as essentially a period of irrational exuberance, and the period we’re currently in as part of a decade-long shakeout.  While shakeouts, though painful, can be a good thing long-term, Blank makes a convincing argument that this one hasn’t been a net positive for some tech sectors (specifically those that require larger capital outlays): Startups: Welcome to the lost decade