Overvalued Unicorns and Noncompete Agreements

(Bloomberg View) -- My morning train reads:

• ETFs Become the Investing World's No. 1 Scapegoat (Bloomberg View)

• How a Hedge-Fund Ace Chased Silicon Valley Riches—and Embarrassed Himself (Wall Street Journal)

• Bubble Quietly Burst for Overvalued Unicorns (Bloomberg Gadfly)

• How Not to Be Wall Street's Sucker (Institutional Investor)

• Companies Compete but Won't Let Their Workers Do the Same (New York Times) see also Stuck in That Same Old Dead-End Job (Bloomberg View)

• The President's Secret Air Force (Politico)

• Our Problem with Monopolies, and Why Everything Sucks (Talking Points Memo)

• The Age of Marijuana Plants Is Over. Say Hello to Synthetic Marijuana (Ozy)

• How Isaiah Thomas, The Shortest Guy In The NBA, Became Unstoppable (FiveThirtyEight)

• Classic American Cars: Is There a Fortune in Your Garage? (Fiscal Times) see also Tesla Has a Lot More in Store Than the Model 3 (Bloomberg)

Be sure to check out our Masters in Business interview this weekend with Michael Zezas, Morgan Stanley's Chief Municipal Bond Strategist.

Tech displaces TV as biggest sellers of advertising

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This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”

To contact the author of this story: Barry Ritholtz at britholtz3@bloomberg.net.

To contact the editor responsible for this story: James Greiff at jgreiff@bloomberg.net.

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