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I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." In Amp It Up, Frank, you say that a company's mission really has to be weaponized. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. Yeah, there's no doubt. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. Those are just markets, but culture is how you get up in the morning and how you prosecute your day, so it is a huge deal. Let me bring you back 10 years to 2012, Benoit Dageville, Thierry Cruanes, and Marcin ukowski started Snowflake as the secret name of the startup they were working on during that particularly hot summer. I talk to more people than most people in the company do, and that makes me dangerous because I hear directly what is going on - good, bad, and somewhere in between. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. As I said, what comes around, goes around. While that is probably not, my temperament is not terribly well-suited for those types of jobs. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . Obviously, I was a young man and not even in my mid-30s and I'm taking over a whole business, a whole organization, global, all this kind of stuff, so, it was a hell of. But then, you go like, "Oh, this is the rest of my life." But . This is a very buoyant country. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. In the book, I go on and on about what some of those issues are. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. Buyers and sellers can come together. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. They want to know what bad behavior is. That's really what you want to preserve rather than layers and layers and layers and channels of communication. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. So, I really lift that cross and the chasm dynamic. It takes nothing. And a lot of our people have the same malcontent attitude that I do. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" So, I finally caved, okay. What did that initial scaling up to that point and then the public exit experience teach you about why being acquired was the right choice for Data Domain? We're always picking at things that could be better. And I had already made a little bit of a name for myself in the company. And I talk about that in the book, because again, there's observations, maybe even lessons that can be extracted from what happens when you're in a crowded field and you're trying to separate yourself from the pack. I just have been in the line of fire too long. Take our own company, Intercontinental Exchange, for example. So now, we're having business conversations about data. Slootman said diversity comes second when making . That's why they're big in banking and insurance and distribution and logistics. Thanks for listening. Theres no surprise here. And of course, people chuckled because they recognized it. Creative Commons Attribution-ShareAlike. As young as I was, I mean, I was determined that that's where I wanted to be and certainly, not hardware because I saw another way for commoditization happening over there. Because that's what it is. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. In short, money talks, and Slootmans got it in his hands and in his mouth. You have to have data to partial reality, right? Yeah, yeah. Slootman applies this philosophy in the workplace as well. I can't get you aptitude. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Todays companies all want to achieve exponential growth and according to Frank Slootman, author of a new book for business leaders, every organization has the potential to scale to massive heights. I don't have to go work on Monday. Others might say that hes completely brash. [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. We're going to nuke an entire industry out of existence. So in hindsight, I understood that I was just burned out, classic burned out. This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. They're very far removed from the drive train. And like, "How fast does this guy type?" I mean, that's how I felt at that time, like I had no more to give. And you mentioned several times in the book that you look for aptitude over experience, does that focus help snowflake identify young talent and how do you measure aptitude? If you like what you heard, please rate us on iTunes, so other folks know where to find us. Architecturally, just damn near perfect, so. The improvement in technology is one of the main reasons that this commercial scene is flourishing by the, Read More 10 Things You Didnt Know about Loggi CEO Fabien MendezContinue, Tableau Softwares President and CEO Mark Nelson defines Tableaus vision and supervises the companys business operations and procedures. Everyone's watching. It becomes the beating heart of a modern enterprise. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. In other words, they kind of let it happen. We had no experience. I mean, that's how aligned this is, okay? Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. Get the world to sort of move onto a different technology platforms, et cetera. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. And if you've got a comment or a question if you'd like one of our experts to tackle on a future show, email us at [emailprotected] or tweet at us @icehousepodcast. And we feel the consequences of our actions every minute of the day. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. to keep connected with us, please login with your personal info. The Dutch-born Slootman, who now lives in Montana, has had three hits in a row since 2003: He was made CEO of enterprise storage startup Data Domain and grew it to a $2.4 billion acquisition. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. Did you find it difficult to change Snowflake's established culture? Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. I'm on the phone with customers every day. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? So, because we all have our that's sell of awareness. You could have a meeting in the hallway with the entire company. [23] And that's exactly what we did. A term that gets used a little bit too much in too many places. What was that? I'm in New York. But in the end, it's like we have to get into backup software in which we tried. It's up to 79% of the volume has gone cleared. And Brett Favre was that way. I mean, truly retire. Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. After all, he has experience on his side. And you can take it or leave it and try it on for size and see if you like it." Some may describe him as direct. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. And are there any particular secrets to building a consensus around the idea of change? But the world of backup and recovery, was dominated, as you said, by tape automation technologies. Back then, there were hardly any software companies around. It's a small country, obviously, which is why they sort of veer far and wide. And it's just, it's intoxicating that energy. And he and I have very short conversations because by the time we start asking the question, we already know what the answer is type of thing. And the term BI had not even been invented back then. I mean, anecdotal observation has pretty much run its course. It's not just a scale. They've never really been asked that before. But yeah, aptitude is really about, what are you innately good at? I'm curious, how that opportunity at Data Domain came to you? We were going to do the world of favor.". What kind of people fail here and why?" Snowflake CEO Frank Slootman Leading for Hypergrowth 2,637 views Jan 15, 2022 Frank Slootman is an American billionaire businessman, individual investor, technology executive, and the. So, it sort of lit a fire under me, just the prospect of doing that, it just kind of brought me back from my burned out state in 2017 to two years, feeling incredibly challenged, energized, and sort of having a new leash on life, if you will take on something like that. Different technologies, different markets, different competitors, different eras, different cultural times that we live in, you need to become, what that situation requires off you. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. Your mission is you're pursuing an end state or at least the closest thing to what you can envision, to what you want to realize as a couple. So, Frank, as we wrap up final question, and if it's a spoiler alert for Mike Scarpelli, if he's listening, Mike, you can turn off the podcast now. 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. And historically, people have tried to answer these questions anecdotally. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. Its a positive outlook for Snowflake, and its a bright signal for investors to really pay attention to this company now before its too late. Given his accolades, Slootman gets invited to speak at many events. So, we were just picking over use cases here and there to sort of stay alive in the early days. Open main menu Close main menu Home About Us Contact Us States Advanced Search All these things eventually came together. I mean, it gets rid of you. I always tell my own people, "Look, I'm a piece on the chessboard, okay? And over time, we overcame that because we were laser focused on making the product bigger and faster every year. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8 billion. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. The eight blocks of the street run from Broadway in the west to the East River in the east. And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Then, they discuss Frank's hiring philosophy and how to create a winning relationship between an executive and their direct reports . It's not that easy. I really had to be shamed into writing this book, considering the amount of work that it is, but got a lot of help from the company. And if you've got a comment or a question if you'd like one of our experts to tackle on a future show, email us at. Slootman knows exactly what hes doing. And rightfully so, by the way, because they have created something, right?. It's like, "That's not exciting." And, how do you design single best data operations platform you possibly can?". Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. Mike is a really good example of that because what he's really good at, I'm not, and I always use the, the analogy of he plays defense, I play offense. Chiefs defensive lineman Chris Jones recorded his first sacks of his postseason career in a redemptive victory, and his linemate Frank Clark stepped up in the playoffs once again. Wikitia is not affiliated to Wikimedia Foundation. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Yeah, it was a good problem. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Right, you got a good point. But if you're performing at Tom Brady's level, you have no reason to step aside. And it worked like that for about a hundred years. And companies that have been around a long time, it's near to impossible to undo the culture. That culture really keeps you safe from being indulgent or just, you're sort of presiding. Scale is definitely a problem because you get layers and layers and you got the problem of having tons of passengers on the boat, all these types of issues. Quick digression. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Software company aims to benefit from companies increasingly storing information in multiple clouds Big tech firms are investing. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. The book accounts his time in Data Domain and so much more. Right? I'm just, I'm fighting that tide. Meaning that we would run something like Tableau on top of Salesforce or whatever. So, a book becomes highly scalable way of really creating some well-curated observations around "Look, here's what we believe to be true about the trajectory that we've been on. It wasn't, and the company wasn't failing financially on its growth objectives. The list of its authors can be seen in its historical. And it was really my wife who said, "No, no, we'll go. I mean, you can take somebody out of their country, but you can't take the country out of the person, as the old saying goes. And it's very much a talent game just like business is. Because, if I can't explain it, then I can't predict it. And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. And when you're burned out, you don't regenerate anymore. And that's all coming up right after this. We're two sides of a coin, which is a reason why we've shown up in so many companies together. We'll do something good with it. This article "Frank Slootman" is from Wikipedia. Engineers should have a very easy time discerning the talent, so. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. Mar 11, 2021, 11:30 ET. The good thing is you dont have to actually sit in with Slootman to get his lessons. But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. I look at the situation, "What does this require?" Slootman has become somewhat of a business hero for many people, myself included. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. The former Frank CEO said JP Morgan had full knowledge of Franks customer data before the acquisitionand Chairman Jamie Dimon personally pushed for it to happen. And that is a common thread through all our companies. So, I ended up in odd places because they didn't know what to do with me. Not all people are created equal in terms of their roles and their contributions in companies. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. So, we started to wind down a little bit. And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. So, one of the things that, that our founders did really, really well and it's a very important lesson here for anybody that's watching Snowflake and trying to understand is that they took a clean sheet of paper. That's NYSE ticker symbol S-N-O-W or snow who, like the immigrant inhabitants of New Amsterdam more than two centuries ago, has proven himself a master entrepreneur and visionary leader, able to take a great idea and scale it massively, and then apply the same playbook again and again. In other words, as a leadership team, it's not just the CEO. Now, for us, it's a data Cloud. In other words, you got to really mean it, okay? [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. So, I did. It's really a company production, by the way. Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." If there were one person you could sit and learn from today, who would it be? Right? Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. We don't preside, okay? Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. Software was barely an industry. There's no doubt, I'm a total hybrid here. So, after six years of success, by any metric, by playing the king on that ServiceNow chess board, why was it time to step down? He's a Dutchman Slootman moved to Silicon Valley in 1997. So after a while, it's like, "Okay, we've done enough of this." The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Our guest today, Frank Slootman is chairman and CEO of Snowflake. The founder brings you in to scale up the company, but finds it difficult to step aside. I just took a job with a software company just to be in software and that's sort of the extent of my thinking on that. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. They sold the living hell out of that product. Frank Slootman - Narrow the Focus, Increase the Quality - [In So, we came out there and we said, "Look, no, we're not just going to sell a product here. You want to be the playmaker and the people that they're going to pass the ball to when we have two seconds left in the quarter, that kind of thing. We had this very high profile bidding war between the EMC and NetApp at that time. It doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. I use that expression a lot to say, "Look, data operations is going to become your core." Everybody has ideas. You want to be that person, okay? And the whole point of the book is I try to contrast these experiences, like look, they're not the same. Collaboration between companies also offers significant opportunities to create value, and Frank Slootman - Chairman and CEO of data cloud pioneer Snowflake - believes it has never been more important for organizations to be able to mobilize their data and share it with ecosystem partners. Most people just preside over culture. At the same time, that was enormous anxiety about how the company was unfolding. Because now you're buying somebody else's culture. Because, and this is another important observation, I think. It was great and it lasted the entire duration. It's a transformation that is still going on. The biggest guess is that Frank Slootman simply had the track record for having previously taken data storage companies successfully out of trouble and into the future. When I was at ServiceNow, Fred Luddy, the founder, he said to me, at one point, "I really don't want to come to the staff meetings anymore." It could address very few use cases. Windows 3.1 didn't even exist.
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