Walking Dead: Qualtrics and Medallia

Vasu Prathipati
May 21, 2026
?? min read
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Source: Yahoo Finance

JPMorgan Halts $5.3B Qualtrics Debt Sale as AI Concerns Weigh

Surveys are the past. AI is the future — the #1 problem is neither Qualtics or Medallia is led by their founders anymore to navigate this change. 

Ryan Smith started Qualtrics but now runs the Utah Jazz. Medallia is onto its 3rd or 4th CEO. Both are owned by private equity, so product innovation is behind them, as the goal of private equity is to squeeze profits.

It’s not like Marc Benioff, the founder of Salesforce, who is leading the company through this change. 

Kudos to the founders of Qualtrics and Medallia. They did an incredible job pioneering a new cultural mindset around Experience Management. 

I just don’t think their setup will thrive over the next decade — but if the founders come back, I will change my mind. 

They won’t come back, though.

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