Welcome to OK Computer. I am Dan Nathan. I'm here with CNBC Tech Checks Deirdre Bosa. I'm also here with Jeff Richards, General Partner at GGV Capital. You have heard both of these fine people on the pod before. And I got to tell you this, Debo, I know Jeff basically because of you here. And I was like, I got to get a piece of both of you guys on the pod here.

This is, uh, here we're doing it.

Well, he is a very favorite tech check guest.

He should come on more often than he does.

Well, you know, it's funny.

I say, Jeff, you know, I have said this on our pods.

You've been really generous with your time over the last year since we started OK

computer. computer you've been on with Guy and myself on the tape. I mean, it's not that common where you come

across somebody who spends their entire professional career investing in private companies,

advising private companies who have this sort of command that you do over public markets.

And the other thing is, like, again, we've been really lucky to have Deirdre come on over the last

month and a half or so. I just love the texture that you bring from the

reporting that you've been doing on CNBC. I know you have a fabulous network out there. So let's get

to it. We want to hit a bunch of the stuff in the here and now in some of the places that you play,

Jeff and that you've been reporting on Deirdre definitely in SaaS and some of the takeover activity and the

premiums being paid. Deirdre, you and I are going to go deep after Jeff departs on this,

that bang-up article in the Wall Street Journal about Tether. I know you've been reporting on that

stable coin for a couple of years. So we're going to get to all that. Let's get into it.

You know, Qualtricks. It's a company, Jeff, that you've followed, I suspect for years

when it was in the private markets and it's had an interesting journey in the private markets and

the public markets. And it looks like it's going back out. So talk to me a little bit about

what's going on there, valuation, and what this kind of means for some of these enterprise

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