Do you mean valid as in there are no NY startups at or above that valuation? There are definitely some NY based startups above the $5b mark, though the ones I know of are B2B, not B2C.
Who? Oscar is the biggest one I can think of, and they're <$3b.
I'd also bet on at least two of these being >$50b within 3y. {Uber, Lyft, Airbnb, Didi, Meuitan, Ola, Flipkart, Snapchat} (Uber already is, so it's really "a second one")