If it does happen if will be the deathblow to both nyc nightlife and many of the main employing industries in the city. People might be tempted to leave their jobs particulary if they dont get out till 1am in the morning. They wont get the chance to partake in nightlife, what are they going to do simply not go out or ask to a transfer where the closing time is 2 and the office hours end at 8. Its also unlikely that new venues will open up with 2am closing on the license they cant compete with the venues open till 4am.