for more on the big tech results, i'm joined by jason ware at albion financial group it was a bevy ofifferent reports. which is the most important one in your mind >> good morning, dom i think what we were anticipating the most was alp alphab alphabet given the fact that this is the tech that had the largest impact from the pandemic in the second quarter, first time google had experienced a year over year decline in revenue and given the trends exiting the second quarter management shared with us that they saw trends starting to pick up in terms of ad spend which again was somewhat impacted by covid-19. seeing what happened with google as the summer wore on and how their business is coming through this was critical. and that was a really good report across the board when you had a $5 beat and firing on all cylinders. ad spending is coming back not only in google, but facebook and twitter as well. so a great report by google. cloud seems to be breaking out they had expenses under control. so really celebrate what they reported >> i mean, alphabet is up about 23% or so maybe year to dat

potential for increased government regulation, both here and abroad here to talk tech joanna stern and jason wareat the companies leading the dow and s&p 500, it's the same names basically out of technology day after day after day. it's facebook, it's alphabet, it's twitter, it's microsoft, it's apple and maybe one more -- and amazon is that a worrisome sign to you? has the cowardly lion got just more courage than it deserves? >> hi, that tyler. this september we did not see these large technology stocks lead we've seen some rotation within the market away from those large cap growth and more cyclical and value names. but by and large you're correct. they have led the market for many years and continue to lead in this pandemic and on a year to date basis not being in this mega cap technology stocks has been a mistake to us it doesn't make us nervous to see that kind of leadership most bull markets are led by a small group of stock if you go back back to the mid 1920s, about 4% of the stocks in the publicly listed space result in almost all of the gains for the equity market. so it's actually not

joini ing us now is jason ware oig. neither of us is antitrust attorneys as far as i'm aware.said, from an investment perspective, this keeind of pope up out of nowhere. as an envirgin islaninvestor, du think any investments in these vows >> good morning, good to be with you. so we're always rethinking and re-evaluating the investments. we've owned these large technology companies for many years and have done quite well in them. but the landscape is always changing both from a technology and competitive landscape point of view as well as from a regulatory one yes, the report was 449 pages of various recommendations from the house sub committee on how to, you know -- their view, really their big takeaways is that there is monopolistic forces at play here for each of the four companies and they have recommendations on how t address that probably doesn't changes investment thesis for all four of them. we don't think anything is imminent in terms of breakup or any major new regulations, but it is something that bears watching and it is not terribly surprising, this was a 16 month