So, you need to create a platform that allows data to be enriched and be joined and be blended and be overlaid in ways that data scientist only have insight into. 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? So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. He said, "Because you guys are indicting everything I've done." You arrived at something like tape sucks. Nothing to do with financial targets or growth targets or market capitalization. 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. What took you back to the Netherlands at one point? 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. So, they looked around and they found the guy with a passport to Dutch language proficiency like. And when you buy companies, it gets worse, right? Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. 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. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. The interesting thing about data domain was it was very, very slow going. And it was one, and we were better known as the tape sucks company than we were by our own company name at one point. But then, there's new platforms in terms of the Public Clouds, right? If there were one person you could sit and learn from today, who would it be? 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. 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. And I'm like, "You know what? By the way, our two largest competitors were both bidding for the company at the same time. Buyers and sellers can come together. 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. It was small, it was slow. Everyone's watching. I mean, truly retire. And by the way, when you see the decline of very, very storage enterprises, you can pick MG and HP and and Intel and so on, what happened to these people along the way? The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. But in the end, it's like we have to get into backup software in which we tried. Slootman recently spoke at the CNBC. It will be fine. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? The Dutch have all always been enterprising. But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? 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. We tried to, we wanted to get into primary storage. A term that gets used a little bit too much in too many places. No. I mean, you probably have even a sense of things that you know you're not good at. They've never really been asked that before. But one of those issues was that taken over from a founder CEO was really, really hard. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. 951 Chicago Ave., Oak Park, IL 60302. Everybody has access to talent. There are many questions left unanswered about the months leading up to Snowflake going public. I'm the opposite. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. 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. Slootman applies this philosophy in the workplace as well. He's a pretty good golfer. the internship sort of came about because I was about a year ahead of schedule at the university. They're very lonely in their jobs. 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. It's a small country, obviously, which is why they sort of veer far and wide. He's like, "How do we run a supply chain?" So, I finally caved, okay. 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. You really need to, look at yourself as an asset that can be applied in many, many different ways. But let's focus on another dilemma that brought up in the book, Frank. So in hindsight, I understood that I was just burned out, classic burned out. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. They sold the living hell out of that product. Good sales people have a track record. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. I don't think about what's next. We were entertainment for Wall Street for a six-week period. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. It's not just a scale. Data has no opinion. It's just that there is a spirit here that always believes that it can do things that other countries don't believe about themselves. If you want to know more about this CEO, this might be the book to read. I mean, without the foresight of having read Amp It Up, our listeners might assume that a jump from into software would take you really the rest of the way in your career from your start in Europe, to Indiana, the Midwest, all the way to California. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. We had no experience. In other words, you got to really mean it, okay? What attracted you to the space? 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 Brett Favre was that way. And I said, "Why not?" And for example, when I joined Unysis, I ended up in a corporate planning role. The information contained in this podcast was obtained in part from publicly available sources and not independently verified, neither ICE nor is affiliates, make any representations or warranties, express or implied as to the accuracy or completeness of the information and do not sponsor, approve or endorse any of the content herein. It's been extremely successful since we took over. 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. All of us, no exceptions." 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. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Well, building culture is a very forceful thing. In the book, I go on and on about what some of those issues are. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Did you always have your eyes set on a career in the US? I mean, anecdotal observation has pretty much run its course. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? There's no doubt, I'm a total hybrid here. CEO Frank Slootman made $287,990 in salary in 2019. So, I got pestered by VCs over the years, like "When are you going to do an update to your book because you now have two more companies to talk about." The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. So like, "Look, I'm not going to be doing the same races over and over again." 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's a Dutchman Slootman moved to Silicon Valley in 1997. Whatever he learned from school is probably what we should all learn. This is probably the biggest understatement of the year. What's your advice about someone climbing the corporate ladder looking to make that leap? 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 introduction of risk management tools for LNG freight will boost the efficiency of the virtual pipeline of LNG, a new catalyst for the liberalization of LNG and a critical milestone in the globalization of natural gas. Quick digression. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. I always become the CEO that the situation mandates and dictates. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. It wasn't long before top VCs weighed in. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. And that's, I had a question the other day from somebody that hit me on LinkedIn and he was putting all kinds of labels on himself. It's you're in this job for a reason. That's why they're big in banking and insurance and distribution and logistics. But the thing that I like so much about yacht racing that I like better than being in business is when you make a mistake on the race course, it's almost immediately obvious that you did. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? When you get that sensation, you do need to leave because you're no longer the right person for that situation. It's just, it's hard not to be acquainted at some level with that culture. Better, better all the time. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . And I had already made a little bit of a name for myself in the company. I mean, we had like 15X, the X of the next nearest competitor. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . We cannot just read our emails and have a few phone conversations and know what's going on. 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. And did you have a sense that the sector was really about to explode? Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. That's where we're at right now. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. I mean, in the book, Frank, you used the analogy of getting in the right elevator. Frank, how did those early experiences rising through the ranks and being sent from problem to problem help you establish the principles for success that your career would see? Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. And people really want to be led in that manner. He cancelled the luxurious annual employee ski trip to Tahoe. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. So, I really lift that cross and the chasm dynamic. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. He knows what problems exist in his field today, and he knows how to address them as well. 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 use that expression a lot to say, "Look, data operations is going to become your core." You speak the language, like we do, but there is something different about you." This property is owned by Frank & Brenda Slootman. And that is a common thread through all our companies. So, we came up with this war cry that said, "Tape sucks, move on." It's up to 79% of the volume has gone cleared. As we're recording this in early 2022, the competition for talent has reached a boiling point. 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. I speak with a fat accent and like, "What are we going to do with you, pal?" Frank Lloyd Wright Home and Studio. The consequences of your action are like right there. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. Frank Slootman currently serves as Chairman and CEO at Snowflake. And you had literally physical media that could logistically manage. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. 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. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . Those are really good conversation, good questions to have because each organization is different. I'm in New York. 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. And, how do you design single best data operations platform you possibly can?". We now use consumption models instead of subscription models. And eventually, we totally crushed that market because we could address any and all use cases that were out there. So, getting an internship in the US in those days was a really big deal and it really didn't matter to me, where it was, what company it was, I just wanted to have the exposure to what is that like. And now, welcome inside the ICE House. The pandemic has. 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. Snowflake is Slootmans third IPO. That's NYSE ticker symbol, S-N-O-W. His book from John Wiley and Sons, Amp It Up: Leading For Hypergrowth By Raising Expectations, Increasing Urgency, and Elevating Intensity is in bookstores and online now. I hate to break it to the audience, but that is the way that it is. Software was barely an industry. Over his distinguished career, Frank has mastered the process of fundraising scaling and building young companies into unicorns with the run ending eventually way back here at the corner of Wall and Broad Streets with an initial public offering. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. Okay? If it's not related to our core mission, we don't want to hear about it. I was a huge fan coming here. So, we were just picking over use cases here and there to sort of stay alive in the early days. So it's a very important question because if I hire you, I can get you experience every day at the week. They're very safe. Now, as the story goes, England followed the Netherlands in control of Manhattan. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? It takes nothing. 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. But you think that your upbringing in the Netherlands gave you a unique perspective on business and success, that's helped you throughout your career? I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. This is really think about it as a database in the Cloud. In other words, swarm to it instead of distance yourself from it. 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. When I was at Data Domain, hell, we were 15 people when I joined there. But it's not what it really is, so it wasn't an enormous surprise to me to come here. I mean, to this day, with all the other things that we've done, I still treasured that experience greatly and it's still a very large business to this day. Yeah, it was a good problem. You cannot sell your way through a crappy product, okay? Presiding is the worst word. You're finding the best sailors in the world and all of that. But eventually, I returned to Holland about a year later, resumed my education. It's really every leader in the organization needs to internalize and then, want to act on it. 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. 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). You ever noticed that NFL quarterbacks just can't leave the stage. And there is a following for this and the reason that we know that is because we wrote a book back in 2009, 2010, that sort of became a combat manual for entrepreneurs over the years where, because this is really for people that have nowhere else to turn. 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. 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. 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. It's really a company production, by the way. Theres no surprise here. 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? [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. I can't do every speaking engagement," et cetera. I'm just, I'm fighting that tide. For example, he made a few changes at Snowflake when he became CEO. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. And rightfully so, by the way, because they have created something, right?. And like, "How fast does this guy type?" You could eject the tape from a tape drive and you could ship it off site. And everybody was like, "Who's Data Domain? That is how you energize companies. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. They just have such a hard time doing it because that's who they are, that's what they live for. We will talk to you next week. And you need to have the flexibility of mind to really deploy yourself. I just have been in the line of fire too long. Well, the number one bit of advice I would have is make sure you're close to the drive train. It was super interesting to me, sort of my first encounter with American management. 2023 Forbes Media LLC. When we first came in there, it was a very, very anxiety-ridden ride in the early days. 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. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Obviously, that industry had moved on to all kinds of different disk space technologies. What was that? When you run companies, you need to narrow the plane of attack very, very quickly. Before that, he spent his life in Netherlands, where he was also born. Yeah, yeah. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. 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. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. We played a round of golf. Yeah. Others might say that hes completely brash. So, we're going to be in the middle of that. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $ 3.4 billion at a $33.3 billion valuation. But . 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. 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. 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. Where I come from, people are quite resigned to their fate. Bunkers is basically a silo that's incredibly hard to access. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. Not all CEOs have this, but a lot of CEOs do. So, I ended up going back to, I really didn't want to. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. Windows 3.1 didn't even exist. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Are you just going to look the other way or are you going to call it out? I mean, I was just in my way of life and I was going to stay there till the end of time. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. Creative Commons Attribution-ShareAlike. Everything in our world starts with technology, starts with architecture, okay? Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. 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." It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. It wasn't, and the company wasn't failing financially on its growth objectives. 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. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. See what you can do with it" to data driving operations directly, right? So, we won a lot of outraces. And he always talked about Snowflake because it was a very exciting company to him and I didn't know that much about it, but enough to have a conversation. Obviously all the financial reporting, all the systems. 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. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. But 233 years later, American, Dutch and British interests are inexorably intertwined. That's the reason why this country does so well. People that the company really, really runs on. Now, amid an ongoing legal battle, its got to clean up a very public mess. 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. 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. Welcome, Frank, inside the Ice House. So, this is not data warehousing, it's just one use case. I'm like, "We're not trying to indict what you've done. I mean, it's like when people start to roll their eyes. And then of course, Michael Dell found just as attractive to bring EMC into Dell. People naturally become very unfocused, very, very easily. That's the point of it. 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. And by the way, the inverse of that is what are you not good at? He published a book in 2011 called Tape Sucks. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. 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. I mean, it was doing well. I remember having a conversation with the CEO of a very large healthcare company. 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. You could have a meeting in the hallway with the entire company. 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. Because now you're buying somebody else's culture. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. Here's your host, Josh King of Intercontinental Exchange. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join.

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