Our guest was Frank Slootman, the Chairman and CEO of Snowflake. The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. Don't typecast yourself." I just have been in the line of fire too long. Data Domain was really an interesting company. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. This is probably the biggest understatement of the year. So now, we're having business conversations about data. I was just shot. I'm curious, how that opportunity at Data Domain came to you? That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Before becoming President and CEO, Mark served as Tableaus Executive Vice President of Product Development, coordinating the, Read More 10 Things You Didnt Know about Mark NelsonContinue. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. So in hindsight, I understood that I was just burned out, classic burned out. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. It became very meaningful to them. 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. It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. When I'm on offense out there, I don't worry about what's going on at home at the farm because that is in a very, very tight control mode. The book accounts his time in Data Domain and so much more. Thanks so much for joining us inside the Ice House. Now, we're going to go move the pieces and I'm just a piece on the chessboard." 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." And the other thing I'll say is we maintain a very, what we call a malcontent attitude. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. It's a transformation that is still going on. And you can take it or leave it and try it on for size and see if you like it." I often refer to those people as passengers and then, they're the drivers. This property is owned by Frank & Brenda Slootman. What's the playbook?" Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. This is a country that's very aspirational. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. Did you find it difficult to change Snowflake's established culture? In a few weeks, when the 2022 winter Olympics get underway in Beijing, I'll have my eyes peeled for 22-year-old, Jutta Leerdam, the reigning world speeds skating champion with over 800,000 followers on Instagram, who's proven herself a trend setter on and off the ice. 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. Our headquarters is in Atlanta, Georgia. But 233 years later, American, Dutch and British interests are inexorably intertwined. The list of its authors can be seen in its historical. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. That's the point of it. In other words, swarm to it instead of distance yourself from it. Sometimes that is hard for American audiences. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. This is a very buoyant country. They're kind of like-. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. Right? But it's also, you attack and you cross again. No databases of scale and no file systems with scale. 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. They knew exactly what we meant. It was just like Formula 1 of sailboat racing. Growth opportunities abound, but what many owners of startups may not realize is that choosing a bank with sector expertise to complement your business needs is more important than ever. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. They're very well dialed into it. The eight blocks of the street run from Broadway in the west to the East River in the east. Frank Slootman - Narrow the Focus, Increase the Quality - [In 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 eventually, we totally crushed that market because we could address any and all use cases that were out there. Now, for us, it's a data Cloud. 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 . Every week there was a new bid. At the same time, I ended up in conversations with the lead director and investor at Snowflake. Company still around, by the way. And Americans always think that there's an easy answer to these questions. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSE's history, but it wasn't his first rodeo. Who can solve what set of issues, right? And you need to have the flexibility of mind to really deploy yourself. And a lot of our people have the same malcontent attitude that I do. It's been extremely successful since we took over. I was like, "Jesus, I spent my whole life trying to get here. Frank, you write about trying to convert your experience, taking on the hard problems of your employer, into making a path to the C-Suite. Not all CEOs have this, but a lot of CEOs do. Well, you think you're just going to turn it off? to keep connected with us, please login with your personal info. And by the way, for most people, that's a very difficult question. The founder brings you in to scale up the company, but finds it difficult to step aside. And I'm like, "You know what? 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. Make it as easy as I could make it. 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." Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. This article "Frank Slootman" is from Wikipedia. Everybody has ideas. It was super interesting to me, sort of my first encounter with American management. 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. And of course, people chuckled because they recognized it. I mean, the problem with backup and recovery is, yeah, you can do backups, but the point of backup is recovery because if I can't find or read tapes, I'm still up the creek without a paddle. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. And it wasn't charged for, so companies just couldn't build software because it was just given away. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. 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). That was career death for people, so it was just the least flattering place in the entire IT operation was backup and recovery based on tape, very logistically, intense. Reflects change since 5 pm ET of prior trading day. He's a Dutchman Slootman moved to Silicon Valley in 1997. By the way, our two largest competitors were both bidding for the company at the same time. In other words, as a leadership team, it's not just the CEO. 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. 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. What kind of people fail here and why?" 2023 Forbes Media LLC. So, this is not data warehousing, it's just one use case. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. And the term BI had not even been invented back then. But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. At the same time, that was enormous anxiety about how the company was unfolding. I look at the situation, "What does this require?" Wikitia is not affiliated to Wikimedia Foundation. Bunkers is basically a silo that's incredibly hard to access. Windows 3.1 didn't even exist. 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. In short, money talks, and Slootmans got it in his hands and in his mouth. 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 that's our conversation for this week. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Yeah, yeah. While most CEO's would be described as the person who would take their company to the moon, Slootman has been referred to as the person who would take his company to Mars. You have to have data to partial reality, right? The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. CEO Frank Slootman told CNBC in January that after the Covid-19 outbreak forced people to work from home, it became clear that the old way of working wasn't going to return. Quick digression. Yeah, it was a good problem. You ever noticed that NFL quarterbacks just can't leave the stage. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. I mean, the results speak for themselves. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. They're very far removed from the drive train. After joining almost at the start in 2003, Slootman helped. And then, I had another internship after that. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. 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. How does that work at Snowflake? So, it was an incredible trial by fire. Snowflake is the third company Frank has taken public, and the lessons that shaped his career are part of his new book Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. He said, "Because you guys are indicting everything I've done." Why did you give up the helm of the invisible hand for this new role with Snowflake? It's not just a scale. I mean, 16 months after you and Mike came to Snowflake, you raised $3.4 billion as part of its IPO, instantly establishing Snowflake as one of the NYC's marquee companies. I need to know what that is. After all, he has experience on his side. 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. So, we were just picking over use cases here and there to sort of stay alive in the early days. You've said that you were really born in the wrong country. Frank's new book, Amp It Up: Leading For Hyper Growth By Raising Expectations, Increasing Urgency and Elevating Intensity, still is the leadership principles he's developed over his long career. We're not trying to find fault with people or who did what to whom. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . At the same time, we've never had a data Cloud in the history of computing because data was just fragmented and proliferated into silos and what we call bunkers. 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. So, because we all have our that's sell of awareness. I mean, it was doing well. Insurance companies historically have not been because they are data companies by their essence, right? 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. We're going to nuke an entire industry out of existence. For example, he made a few changes at Snowflake when he became CEO. He knows what problems exist in his field today, and he knows how to address them as well. 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. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. 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. Everything in our world starts with technology, starts with architecture, okay? 5. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". You want to be that person, okay? And if I can't predict it, I can't change my policy, I can't change my pricing." And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. Those are really good conversation, good questions to have because each organization is different. Where I come from, people are quite resigned to their fate. Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. Prior to joining Snowflake, Frank served as the CEO of ServiceNow and that's NYSE ticker symbol, NOW and Data Domain, leading both of those firms successfully through their IPOs. I was a huge fan coming here. If there were one person you could sit and learn from today, who would it be? Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. So, the earlier you show up, the better off you are. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. They sold the living hell out of that product. And by the way, data platforms have been extremely fragmented historically. Frank Slootman Chairman and CEO at Snowflake Bozeman, Montana, United States 32K followers 500+ connections Join to follow Snowflake Erasmus University Rotterdam Articles by Frank Drivers vs.. Back then, there were hardly any software companies around. 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. 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. So, we came up with this war cry that said, "Tape sucks, move on." But he had also been the CEO of ServiceNow for seven years. And by the way, the inverse of that is what are you not good at? He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? 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. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. No. 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. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. [1] And opinions, everybody's got one, but data doesn't lie. In 2011, you joined ServiceNow, a name that's really quite familiar to our listeners where you were confronted by that old conundrum of the CEO founder that we've discussed on this podcast before. When a company is buying a million dollars from you in the course of a year, what are they getting? Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Creative Commons Attribution-ShareAlike. And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. 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. One of the reasons I made it a very transparent discussion is that most people think that when you have these highly successful company, it just happens like poof, beautifully. 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. Slootman has become somewhat of a business hero for many people, myself included. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. I mean, you probably have even a sense of things that you know you're not good at. So, it just started to happen, but I wanted to desperately be in software at that time. Slootman knows exactly what hes doing. That's a running joke that we always have. So, we came out there and we said, "Look, no, we're not just going to sell a product here. And rightfully so, by the way, because they have created something, right?. People naturally become very unfocused, very, very easily. Some may describe him as direct. I mean, it's like when people start to roll their eyes. Our European futures operation is based in London, England, and a big part of that operation is futures trading for Dutch Natural Gas at the Title Transfer Facility or TTF, virtual trading point in Amsterdam. What are your God-given talents? Now, amid an ongoing legal battle, its got to clean up a very public mess. It was very formative. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. It is hard when you lose your sense of mission, when you lose your desire and your boldness and your aggression in the marketplace and want to go after competition. I mean, there's many jobs in companies and some of them are quite far removed. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. In other words, you got to really mean it, okay? I'm like, "We're not trying to indict what you've done. That culture really keeps you safe from being indulgent or just, you're sort of presiding. You're finding the best sailors in the world and all of that. But I was now really primed at that point, in terms of, I knew a lot more, about what it was like to be in the US. I mean, all these greats, right? And when you're burned out, you don't regenerate anymore. Because now you're buying somebody else's culture. Obviously, that industry had moved on to all kinds of different disk space technologies. It's really a company production, by the way.