joining us now, wells fargo chairman of global internet investment banking bob peck it's good to see this morning i'm seeing a lot of growth internet names up quite a bit. i mean, asana is up 8% palantir if that counts as internet, roku up 6 1/2. service now up nearly 6. does that tell us anything about resilience in this market or no? >> first of all, thanks for having me and it's great to see you again, albeit virtually. can't wait to be live back on the desk soon. to get to your question, yeah, i think you want to pull back for a second for the year the recent highs, the tech market has been down. the nasdaq 17% give or take. a lot of the megacap names, the larger names down 25%-plus with that, what you've really seen is multiple compression first of all, in the broader s&p, falling from 22 times to about 19 times more in line with the five-year historic average but in the tech side, particularly the vast majority of the pull back of these names has really been multiple compression. so what we've seen in talking to our institutional clients, at what point here is too much, and whe