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Like kids who have already spent their million-dollar allowances, many dot-com startups have begun rethinking their spending–specifically their advertising and marketing spending–as venture dollars dry up.
“We’ve seen it all over the place,” said Carl Johnson, president and CEO of TBWA/Chiat/Day in New York, “not just from current clients, but from the tone of new business clients.”
Bill Katz, president and co-CEO of BBDO New York, agreed, saying, “What I’m finding is yes, the dot-coms are being pressed for more performance by their venture capitalists; yes, they’re being pressed for profit, or at least to make...