With dot-coms heading for extinction and tech stalwarts slicing staff and revenue estimates, corporate spending cuts are rippling through San Francisco's entertainment and travel industries. The spring of New Economy cash that fed upscale restaurants, hotels, fitness centers and bars has abruptly run dry.
Expense accounts that once flowed freely have slowed to a trickle.
The city feels like it' s slowed down. I hear it from other restaurants, from everybody. Such as Hotel W's trendy XYZ bar, which was the place to be last year. The whole crowd, the whole vibe, everything has just changed incredibly. Many of the cutbacks currently being felt actually started months ago as formerly flush tech titans publicly hunkered down, though none will release specific spending figures.