How is Milton Friedman, who was at the U of Chicago, the epitome of a so-called NYC business model? What does a NYC business model even mean?
The places with bad business models are those like Louisiana and Texas, where the workers are predominantly non-union, are paid a pittance, and there are no environmental regs to speak of.
Why do you suppose that college grads from all over the world continue to pour into NYC, for a lack of opportunity?