If you want to know more about this CEO, this might be the book to read. At some point, we were going to get stunted in our growth. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. No, we're talking about stuff that's not working well. 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. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. Obviously all the financial reporting, all the systems. It was super interesting to me, sort of my first encounter with American management. But they do because the world is changing to digital and this is the essence of digital transformation. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. No. I mean, you probably have even a sense of things that you know you're not good at. Everybody has ideas. Open main menu Close main menu Home About Us Contact Us States Advanced Search Better, better all the time. So, we came up with this war cry that said, "Tape sucks, move on." In the book, I go on and on about what some of those issues are. When I was at Data Domain, hell, we were 15 people when I joined there. Others might say that hes completely brash. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Don't typecast yourself." I mean, for example, I remember when we first, got involved with Geico and Todd Combs, the CEO, said, "Look, I don't need any more lectures from you guys on architectural prowess and all this sort of thing." He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Make it as easy as I could make it. Snowflake CEO collects a $95 million payout every month There's no doubt, I'm a total hybrid here. 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. 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. Yeah, that goes back about mission posture. I look at the situation, "What does this require?" 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. Theres no surprise here. At the same time, that was enormous anxiety about how the company was unfolding. Whatever he learned from school is probably what we should all learn. In other words, you got to really mean it, okay? Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube I can just blow a year on doing some other stuff that's interesting." It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. Right. Because you're like, "Oh, this is great. 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. Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust Not all people are created equal in terms of their roles and their contributions in companies. Here's why this makes sense while looking at some options. It was sort of an adjunct to what they called the computer industry back then. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. And that's the American flavor and flare that has built up over three, almost four decades. I was a huge fan coming here. We're driving change. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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. Every week there was a new bid. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 They're kind of like-. We're not trying to find fault with people or who did what to whom. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. You come with aptitude. 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. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. The interesting thing about data domain was it was very, very slow going. What took you back to the Netherlands at one point? 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. Tell me about sailing, first of all. So, I finally caved, okay. I hate to break it to the audience, but that is the way that it is. 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. In other words, as a leadership team, it's not just the CEO. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. And for example, when I joined Unysis, I ended up in a corporate planning role. CEO Frank Slootman made $287,990 in salary in 2019. 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. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. So, I really lift that cross and the chasm dynamic. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . And that went on literally for years, okay? Given his accolades, Slootman gets invited to speak at many events. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. And by the way, data is going to, some people have referred to it as a new currency to new oil, whatever you want to call it, but. Frank Slootman - Topp podcast avsnitt We're two sides of a coin, which is a reason why we've shown up in so many companies together. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. 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? When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Investors know this about us. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. Snowflake CEO on customer spending, weak guidance, A.I. and the company But EMC prevailed. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE 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. I mean, we had like 15X, the X of the next nearest competitor. And by the way, data platforms have been extremely fragmented historically. 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? I always tell my own people, "Look, I'm a piece on the chessboard, okay? Instead, hes got something equally as coola sailing boat named The Invisible Hand. So, we came out there and we said, "Look, no, we're not just going to sell a product here. right? Insurance companies historically have not been because they are data companies by their essence, right? So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." Welcome back. 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. 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? Welcome, Frank, inside the Ice House. 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. How Snowflake CEO Frank Slootman became a billionaire by ripping up the The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. But it's also, you attack and you cross again. 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. 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. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. But in the end, it's like we have to get into backup software in which we tried. 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. But then again, there really is only one Frank Slootman, IPO master in the world. 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. So now, we're having business conversations about data. Right? By the close of. If there were one person you could sit and learn from today, who would it be? 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. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. So, the earlier you show up, the better off you are. In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined the company as CFO. 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. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. We now use consumption models instead of subscription models. The eight blocks of the street run from Broadway in the west to the East River in the east. Quick digression. 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. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. After joining almost at the start in 2003, Slootman helped. They're very far removed from the drive train. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. And by the way, for most people, that's a very difficult question. One of the worst, worst in the English language for me. You hit a mark, you have to do two 360s. Snowflake: Not What You May Think It Is - Datanami Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . 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. The good thing is you dont have to actually sit in with Slootman to get his lessons. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. Now, for us, it's a data Cloud. Right? Thanks so much for joining us inside the Ice House. We'll do something good with it. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. This property is owned by Frank & Brenda Slootman. They just have such a hard time doing it because that's who they are, that's what they live for. People that the company really, really runs on. It's hard to get off of that. Right? When you get that sensation, you do need to leave because you're no longer the right person for that situation. And everybody was like, "Who's Data Domain? They want to know what bad behavior is. It wasn't long before top VCs weighed in. 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. 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? Snowflake Inc. - Wikipedia You've said that you were really born in the wrong country. You need to sort your issues into, "What am I going to focus on?" Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. 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. 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. welcome back! All of which is presented solely for informational and educational purposes. When I in Ohio, I joined copy ware in Farmington Hills, Michigan, and I had not even been there a few month and they acquired a sizable company in Holland, a company called Uniface. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. Slootman said diversity comes second when making . Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. I hate that. I don't have to go work on Monday. It's been extremely successful since we took over. 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. How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider And rightfully so, by the way, because they have created something, right?. Bunkers is basically a silo that's incredibly hard to access. In the early days, I want to say like the first eight to 10 years or so, were actually immensely frustrating to me because I was a strange animal, right? His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. Slootman recently spoke at the CNBC. And it's like, "Well, why does that matter?" Meaning that we would run something like Tableau on top of Salesforce or whatever. Yeah, there's no doubt. 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. Mar 11, 2021, 11:30 ET. Login - Ashima I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. They're very well dialed into it. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC And then being able to talk about it in an intelligent, really rich-considered manner. 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. 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. Early days of ServiceNow was just jungle fighting. We will talk to you next week. It pays a lot to be in the business of knowing what you do, and Slootman knows more than the rest of us when it comes to money, the market, and the software industry. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. And my email just dribbled down to nothing and all this kind of thing." Now, we're going to go move the pieces and I'm just a piece on the chessboard." And when you're burned out, you don't regenerate anymore. 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. That culture really keeps you safe from being indulgent or just, you're sort of presiding. 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.
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