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I mean, you probably have even a sense of things that you know you're not good at. 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. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . Engineers should have a very easy time discerning the talent, so. He said, "Because you guys are indicting everything I've done." Make it as easy as I could make it. And Americans always think that there's an easy answer to these questions. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." As cool as it may sound, Slootman doesnt actually have a literal invisible hand. And that's our conversation for this week. In the book, I go on and on about what some of those issues are. Theres no surprise here. People were looking at my credentials. 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. 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. They sold the living hell out of that product. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? 5. And the product was insanely fast, completely automated. I mean, it's a hell of a cash burner as well. [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. Architecturally, just damn near perfect, so. I'm in New York. And opinions, everybody's got one, but data doesn't lie. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. And you need to have the flexibility of mind to really deploy yourself. But the problem with tape was, I mean, tape got lost, tape became unreadable. It takes nothing. Obviously all the financial reporting, all the systems. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. And that is our culture. 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. Snowflake CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. In other words, as a leadership team, it's not just the CEO. 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 then of course, Michael Dell found just as attractive to bring EMC into Dell. Now, most organizations are incredibly in up still in terms of their data promise. People naturally become very unfocused, very, very easily. Right? Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . I mean, they had graphical user interfaces that were completely proprietary to that company. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Insurance companies historically have not been because they are data companies by their essence, right? Frank Slootman - Narrow the Focus, Increase the Quality - [In This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. Well, that's because historically all we did was we did analytics in silo. Nothing herein constitutes an offer to sell, a solicitation of an offer to buy any security or a recommendation of any security or trading practice. And like, "How fast does this guy type?" And rightfully so, by the way, because they have created something, right?. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Slootman has become somewhat of a business hero for many people, myself included. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . But then, there's new platforms in terms of the Public Clouds, right? And obviously, I got that in spades at UN Royal in Indiana. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. So, I really lift that cross and the chasm dynamic. But if you're performing at Tom Brady's level, you have no reason to step aside. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. Right. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. So, I did. So, we came out there and we said, "Look, no, we're not just going to sell a product here. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. This page was last edited on 12 March 2021, at 18:12. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." If you like what you heard, please rate us on iTunes, so other folks know where to find us. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Did you always have your eyes set on a career in the US? And it wasn't charged for, so companies just couldn't build software because it was just given away. And for our audience who may not remember the days of tape backups, can you explain the underlying concept that you grew from two men and a dog into a multibillion dollar business? 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. 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. So as leaders, you very much, I try, no matter how big this company gets, I try to run it like a popsicle stand where we're driving a race boat around the race course, okay. 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. And people really want to be led in that manner. That's where we're at right now. At the same time, that was enormous anxiety about how the company was unfolding. After joining almost at the start in 2003, Slootman helped. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. I mean, in the book, Frank, you used the analogy of getting in the right elevator. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. Brady is a great example, but Joe Montana was that way and they all craved that energy, that excitement, that intensity, they can't let it go. JP Morgan paid $175 million for a startup it believes it was conned into buying. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. What's the playbook?" And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Cloud-data warehouse Snowflake has been the talk of the town since it announced its intention of going public. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. 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It's up to 79% of the volume has gone cleared. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Better, better all the time. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. 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? It was very formative. And by the way, the inverse of that is what are you not good at? It has certainly worked well for himself, for the companies hes worked under, the many investors that have poured money in his name, and so forth. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. The IPO was the third for Dutch-born Slootman,. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. 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. So in hindsight, I understood that I was just burned out, classic burned out. At 61 years old, Slootman has created quite the reputation for himself. 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. But the essence of what I'm getting when I hire you is what you're innately good at. But with three IPOs in your rear view mirror and one attempt at retirement already failing to stick, what do you see as the next chapter in Frank Slootman's journey? That's why they're big in banking and insurance and distribution and logistics. Because, and this is another important observation, I think. Are you just going to look the other way or are you going to call it out? Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. And then being able to talk about it in an intelligent, really rich-considered manner. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. Well, building culture is a very forceful thing. But eventually, I returned to Holland about a year later, resumed my education. It's just, it's hard not to be acquainted at some level with that culture. Company still around, by the way. It's very hard. It's you're in this job for a reason. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. 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. 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. Well, that's another thing I don't think about that. Including his options, Slootman owns about 10% of Snowflake. We're driving change. Software was barely an industry. I don't care for any of that. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. That is how you energize companies. After the break Snowflake's CEO Frank Slootman and I are going to preview and review some of the other lessons in his new book, Amp It Up. Sometimes that is hard for American audiences. And a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. So, we won a lot of outraces. It will be fine. And for example, when I joined Unysis, I ended up in a corporate planning role. Right? But for many, many other enterprises, including a lot of banks actually in the world of financial services, because they operate through branches and very conventional brick and mortar ways of interacting with customers, all of a sudden, it has to change rapidly. And the term BI had not even been invented back then. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. But then, you go like, "Oh, this is the rest of my life." You arrived at something like tape sucks. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. Because they can't understand how spending categories can just explode overnight like that. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. You could have a meeting in the hallway with the entire company. 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. Read More 10 Things You Didnt Know About Paul StovellContinue. At the same time, I ended up in conversations with the lead director and investor at Snowflake. I'm on the phone with customers every day. I mean, it gets rid of you. 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. Windows 3.1 didn't even exist. Never heard of that company." And now, welcome inside the ICE House. That's awesome. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster initial public offering (IPO). 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. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). Yeah, it was a good problem. When a company is buying a million dollars from you in the course of a year, what are they getting? And that is a common thread through all our companies. So, it's the story, what goes around, comes around, as I said at the beginning. Right? Presiding is the worst word. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. Right? All these things eventually came together. Wikitia is not affiliated to Wikimedia Foundation. Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. So it's a very important question because if I hire you, I can get you experience every day at the week. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. When some of these firms moved out to Canary Wharf, they decided that actually, it was too much to be sending people to the room, so they moved it to a phone call to buy and sell and establishing a price. It becomes the beating heart of a modern enterprise. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. He cancelled the luxurious annual employee ski trip to Tahoe. On stacking, all of a sudden, your boat left behind and you go like, "Oh, my God," so because it's very hard to get ahead on an upwind leg, right? The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. 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. [9] In June 2019, the company launched Snowflake Data Exchange. By the way, everything he did had to be insanely great because he just couldn't get out of bed if it wasn't insanely great. And you can take it or leave it and try it on for size and see if you like it." The question is, what are you going to do? Because you're like, "Oh, this is great. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. And I'm like, "You know what? Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. And then George Washington was sworn in as the first President of the United States, just a few feet from the front door of the NYSE on April 30th 1789. Can you explain how you overcame both to lead the company through its 2012 IPO? And of course, the appetite is insatiable for both technology and people that know how to make this future happen. Phone: 312.994.4000. And he and I were serving on another board together and every time we we'd go to our quarterly board meetings, we'd have lunch and discuss the state of a affairs in the world and blah, blah, blah, sort of thing people do in Silicon Valley. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. They were all special purpose for this thing and that thing and that has really created a lot of problems for data center operations, because they just had a Frankenstein architecture out there and people are sick of that. Yeah. Snowflake chairman and CEO Frank Slootman on leadership and the war against mediocrity February 23, 2022 "Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission," says Frank Slootman , chairman and CEO of Snowflake, one of .