They sold the living hell out of that product. Can you explain how you overcame both to lead the company through its 2012 IPO? Right? It's just, it's hard not to be acquainted at some level with that culture. Because, if I can't explain it, then I can't predict it. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. Every week there was a new bid. 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. I mean, there's many jobs in companies and some of them are quite far removed. And if I can't predict it, I can't change my policy, I can't change my pricing." 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." Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. And Frank, while you were getting your degree from the Netherland School of Economics, you came to the US for an internship with UN Royal and returned after graduating to get a job at Burroughs, which is now Unysis and ticker symbol, UIS. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. At the same time, that was enormous anxiety about how the company was unfolding. But it's not what it really is, so it wasn't an enormous surprise to me to come here. 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. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. If you want to know more about this CEO, this might be the book to read. That culture really keeps you safe from being indulgent or just, you're sort of presiding. 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? Investors know this about us. 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. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC Engineers should have a very easy time discerning the talent, so. And that went on literally for years, okay? And in other words, what problems can I solve very quickly versus what is going to take longer to solve. But then again, there really is only one Frank Slootman, IPO master in the world. Theres no surprise here. Well, the number one bit of advice I would have is make sure you're close to the drive train. We now use consumption models instead of subscription models. And companies that have been around a long time, it's near to impossible to undo the culture. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. So, we won a lot of outraces. It could address very few use cases. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." Because of his much sought-after expertise, Slootman gets paid a decent sum of money. Don't typecast yourself." The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. But it's also, you attack and you cross again. So, I did. So, we came up with this war cry that said, "Tape sucks, move on." Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. Now, I might be a big piece on the chessboard as the CEO of the company, but that's really how you want to think about it. And you need to have the flexibility of mind to really deploy yourself. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. Thanks so much for joining us inside the Ice House. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. Frank Lloyd Wright's Buildings in Japan So, it's the story, what goes around, comes around, as I said at the beginning. It's really every leader in the organization needs to internalize and then, want to act on it. That's not a healthy dynamic. 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. 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 . It was small, it was slow. If it's not related to our core mission, we don't want to hear about it. And when you buy companies, it gets worse, right? We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. Whatever he learned from school is probably what we should all learn. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. Welcome, Frank, inside the Ice House. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." I mean, we lived in absolute terror. Snowflake CEO collects a $95 million payout every month CEO Frank Slootman made $287,990 in salary in 2019. I mean, in the book, Frank, you used the analogy of getting in the right elevator. And Mike was still the CEO at ServiceNow at that time. Snowflake CEO Frank Slootman Profile - Business Insider 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. 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. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Learned an awful lot in that period of time. I always find the problem when I hire people that are already, they have just taken a job and they're already about their next job. Reflects change since 5 pm ET of prior trading day. Frank Slootman - Topp podcast avsnitt Snowflake, the cloud-based data-warehousing company, has been on fire in 2020, with veteran tech CEO Frank Slootman at the center of its success. We will talk to you next week. When you run companies, you need to narrow the plane of attack very, very quickly. And like, "How fast does this guy type?" 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. Well, they knew now. We're driving change. After all, he has experience on his side. So, I ended up in odd places because they didn't know what to do with me. And by the way, the inverse of that is what are you not good at? The. 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. I mean, anecdotal observation has pretty much run its course. I mean, the results speak for themselves. I'm curious, how that opportunity at Data Domain came to you? All of us, no exceptions." It's not just a scale. Yeah. Right? 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? I'm the opposite. By the way, our two largest competitors were both bidding for the company at the same time. 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. They're kind of like-. 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. JP Morgan paid $175 million for a startup it believes it was conned into buying. 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. 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. Everything in our world starts with technology, starts with architecture, okay? And I had already made a little bit of a name for myself in the company. 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. He's a pretty good golfer. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. And you had literally physical media that could logistically manage. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful 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. IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. Everyone's watching. Well, that's another thing I don't think about that. Who can solve what set of issues, right? So, I finally caved, okay. They always have a twinkle in their eye and they're going to do this, they're going to do that. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? I'm in New York. Leone took Luddy on a host of interviews. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. At some point, we were going to get stunted in our growth. Frank Slootman - Wikitia Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. And by the way, for most people, that's a very difficult question. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn So, we started to wind down a little bit. And it's like, "Well, why does that matter?" They're kind of like whine and bitch all day. And my email just dribbled down to nothing and all this kind of thing." Login - Ashima So, they looked around and they found the guy with a passport to Dutch language proficiency like. 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. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . And it worked like that for about a hundred years. And I'm like, "You know what? Instead, hes got something equally as coola sailing boat named The Invisible Hand. Get the world to sort of move onto a different technology platforms, et cetera. 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?" You really need to, look at yourself as an asset that can be applied in many, many different ways. 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. It's like, "That's not exciting." 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. They want to know what bad behavior is. Better, better all the time. 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." Yeah, there's no doubt. Slootman has become somewhat of a business hero for many people, myself included. We don't preside, okay? And historically, people have tried to answer these questions anecdotally. In any successful company just ask them, they will attribute success to their culture. In other words, "How fast does this might work?" 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. Frank Slootman - The Montgomery Summit 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. Because they can't understand how spending categories can just explode overnight like that. It is data operations from the most transactional to the most analytical and everything in between, so. What took you back to the Netherlands at one point? All Rights Reserved. You cannot sell your way through a crappy product, okay? I was like, "Jesus, I spent my whole life trying to get here. I don't know what, if you go back to those days. He's a Dutchman Slootman moved to Silicon Valley in 1997. Look, I'm not a certain type of CEO. And it was really my wife who said, "No, no, we'll go. They did not try to carry technology or ways of thinking forward. While that is probably not, my temperament is not terribly well-suited for those types of jobs. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. And it's not just bad behavior, it's also good behavior. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . Read More 10 Things You Did Not Know About Thoughtspot CEO Sudheesh NairContinue, If you follow business news, you may have heard that on September 29, 2021, Totango announced it had raised $100 million in Series D funding. But you mentioned this earlier, it isn't really what happened. Now, as the story goes, England followed the Netherlands in control of Manhattan. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. 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. 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. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. 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. And you can take it or leave it and try it on for size and see if you like it." And we feel the consequences of our actions every minute of the day. 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." They're very lonely in their jobs. Because now you're buying somebody else's culture. I remember having a conversation with the CEO of a very large healthcare company. I'm just, I'm fighting that tide. And it's just, it's intoxicating that energy. It was great and it lasted the entire duration. So after a while, it's like, "Okay, we've done enough of this." I mean, it was just trying to stay alive. 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. One company that embodies this vision is ThoughtSpot, an analytics company. The question is, what are you going to do? Amp It Up: Snowflake boss pens hands-on CEO toolkit Yeah, that goes back about mission posture. Photo by Christie Hemm Klok/The Forbes Collection. He cuts back where he sees fit. You can't help but run into Dutch people everywhere because they have such a small country. You could eject the tape from a tape drive and you could ship it off site. Frank Lloyd Wright Home and Studio. The company, which prides itself as the leading customer success, Read More 10 Things You Didnt Know About Guy NirpazContinue, Medical marijuana is increasingly becoming a popular trend in the treatment and management of different diseases including chronic and fatal ones such as Alzheimers disease, brain tumors, cancer, HIV/AIDS, chronic pain, and multiple sclerosis. I mean, all these greats, right? There are many questions left unanswered about the months leading up to Snowflake going public. I mean, people go from spending $50,000 a year to a million dollars a year in one year and they're like, and the CFOs go, "What the hell is this all about?" The IPO was the third for Dutch-born Slootman, who moved to California for a job at Compuware in the dotcom boom, then worked at Borland Software. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Thanks for listening. Why did you give up the helm of the invisible hand for this new role with Snowflake? So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. No. Presiding is the worst word. It's really a company production, by the way. So, this is not data warehousing, it's just one use case. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. It's just our nature to talk about problems." Never heard of that company." It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. A compensation package he received upon joining Snowflake in April 2019 awards him a. And people really want to be led in that manner. That is how you energize companies. Basically, we had to solve our enormous problems that we have while the company was doubling in size, more than doubling its size every year. When we first came in there, it was a very, very anxiety-ridden ride in the early days. The founder brings you in to scale up the company, but finds it difficult to step aside. 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 think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. We'll do something good with it. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data The book accounts his time in Data Domain and so much more. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in They also appreciate it. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." I only think about now and what I'm doing today. This is a country that's very aspirational. 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. Now, amid an ongoing legal battle, its got to clean up a very public mess. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. We left off before the break with your decision to literally set sail after 33 years of a career that took you all over the globe, including bringing two companies public. 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. 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. 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. Now, most organizations are incredibly in up still in terms of their data promise. When a company is buying a million dollars from you in the course of a year, what are they getting? And Americans always think that there's an easy answer to these questions. 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." Welcome back. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. The eight blocks of the street run from Broadway in the west to the East River in the east. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. [9] In June 2019, the company launched Snowflake Data Exchange. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. It is a future state that we're all working on right now. No databases of scale and no file systems with scale. [23] 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. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. I mean, they had graphical user interfaces that were completely proprietary to that company. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. Right. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. I speak with a fat accent and like, "What are we going to do with you, pal?" Our headquarters is in Atlanta, Georgia. What's the silver bullet? What's the playbook?" 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. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. I mean, that's how I felt at that time, like I had no more to give. And then Snowflake is again, a totally different. You arrived at something like tape sucks. So, it just started to happen, but I wanted to desperately be in software at that time. We wanted to buy technology from, what at that time was Veritas, Convo, companies that are still around, because then we could really address the, the functional scale and scope off our platform. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. I was just shot. 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. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Well, that's because historically all we did was we did analytics in silo. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. But then, you go like, "Oh, this is the rest of my life." And over time, we overcame that because we were laser focused on making the product bigger and faster every year. In other words, they kind of let it happen. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief Executive Officer of . Well, you think you're just going to turn it off? And that's all coming up right after this. 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. Americans are, it doesn't matter what profession they're in, they always believe they can do better. At the same time, I ended up in conversations with the lead director and investor at Snowflake. That's a running joke that we always have. We were entertainment for Wall Street for a six-week period. 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. It's very hard. Insurance companies historically have not been because they are data companies by their essence, right? 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 now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." 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? They're very far removed from the drive train.