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KEVIN ALEXANDER – THERE’S A MASSIVE RESTAURANT INDUSTRY BUBBLE, AND IT’S ABOUT TO BURST

AS SOON AS HE WALKED THROUGH THE DOOR, Matt Semmelhack knew it was over. He’d been away from his San Francisco restaurant AQ for less than a week, but when he got back, it just felt different. It went beyond the usual concerns of the modern restaurateur. “I wasn’t worried the lights were properly dim, or the regulars were in …