# Professor Aswath Damodaran explains why operating in the New York City market is important for Lyft's business

1 Faculty News December 16, 2015 ![Reuters logo](/sites/default/files/styles/246w/public/assets/images/con_030503.jpg?itok=0OAgrDF0)>

Excerpt from [Reuters](http://www.reuters.com/article/us-lyft-hire-idUSKBN0TZ1Y520151216) -- "'It is a market that is a regulatory thicket designed to protect the taxicab business,' said [Aswath Damodaran](http://www.stern.nyu.edu/faculty/bio/aswath-damodaran), professor of finance at New York University's Stern School of Business."

[Read more](http://www.reuters.com/article/us-lyft-hire-idUSKBN0TZ1Y520151216)