SOX compliance is also really expensive for smaller businesses, though, and it makes IPO's seem like a bad idea unless the company can be really, really huge. C

SOX compliance is also really expensive for smaller businesses, though, and it makes IPO's seem like a bad idea unless the company can be really, really huge. Companies with more than $5B in revenue only spent 0.6% of their revenue on SOX compliance, while companies with less than $100M spent on average 2.55%. This doesn't really have anything to do either way with a bubble, but it does disincentivize a company from going public.