borne 646 562 1391 [email protected] Charles Rhyee 646 562 1376 [email protected] Doug Schenkel 617 946 3918 [email protected] COWEN WASHINGTON RESEARCH GROUP Eric Assaraf 202 868 5304 [email protected] Any portion Of this report prepared by a member of Cowen Washington Research Group is intended as

, a downturn probably would feed arguments that the largest internet companies are too big and need to be reined in." - Paul Gallant, an analyst with Cowen Washington Research Group Big Tech is closing out a contentious year in Washington, and potential regulation will continue to haunt it well into 2019. Google CEO Sundar Pichai

, a downturn probably would feed arguments that the largest internet companies are too big and need to be reined in." - Paul Gallant, an analyst with Cowen Washington Research Group Big Tech is closing out a contentious year in Washington, and potential regulation will continue to haunt it well into 2019. Google CEO Sundar Pichai