When will M&A activity pick up? Will this year mark the return of IPOs? Listen to strategic alternatives,

a podcast from RBC Capital Markets, to get insights on these questions and more. Explore the trends in

market forces impacting deal flow and find out how companies, investors are shifting their strategies

to drive growth and unlock value.

Listen and subscribe to Strategic Alternatives Today, available wherever you get your podcasts.

To be invested with Betterment is to believe in better. Whether it's saving for today

or building wealth for tomorrow, they help people and small businesses put their money to work.

They automate to make savings simpler.

They optimize to make investing smarter.

They build innovative technology backed by financial experts for anyone who's ever said, I think I can do better.

So be invested in yourself, be invested in your business, be invested in better with betterment.

Get started at betterment.com. Welcome to the risk reversal

podcast. I'm Dan Nathan. I'm joined by Rishi Jolaria. He's the managing director of software equity

research at RBC Capital Markets. Welcome back to the pod. Dan, thanks so much for being.

Great to be here in person this time. So last time we did it over Zoom, and that is a company in your coverage, by the way.

Maybe we'll talk about that a little bit.

I think I labeled you as the best dressed man on Wall Street.

Oh, thank you.

There you go, because you and I were out at the private tech conference at RBC last month.

And I think that might have been the first time we met face to face. I was like, you are as well dressed in person as you are on Zoom. You and I got a lot to talk about.

The last time we spoke, at least on the podcast, it was right kind of in the meat of Q1 earnings.

And there was a lot of, I don't know if I call it, skepticism about what these companies were going to say going forward.

...