He cancelled the luxurious annual employee ski trip to Tahoe. 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. 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. What's the silver bullet? Are you just going to look the other way or are you going to call it out? Bunkers is basically a silo that's incredibly hard to access. This page was last edited on 12 March 2021, at 18:12. And it's very rare to create that kind of value. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. And we feel the consequences of our actions every minute of the day. All of which is presented solely for informational and educational purposes. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Yeah, yeah. Make it as easy as I could make it. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. You can only sail so much, [crosstalk 00:31:19]. It is data operations from the most transactional to the most analytical and everything in between, so. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. You speak the language, like we do, but there is something different about you." 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." 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. Everyone's watching. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. And everybody was like, "Who's Data Domain? Why did you give up the helm of the invisible hand for this new role with Snowflake? Everybody has access to capital. 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. They all do and for a good reason. At 61 years old, Slootman has created quite the reputation for himself. Frank Slootman added: " I'm excited to advise Blackstone. 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. I look at the situation, "What does this require?" Mar 11, 2021, 11:30 ET. But you mentioned this earlier, it isn't really what happened. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. All Rights Reserved. Learned an awful lot in that period of time. Photo by Christie Hemm Klok/The Forbes Collection. [23] I'm just, I'm fighting that tide. And that's all coming up right after this. It's you're in this job for a reason. 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. Including his options, Slootman owns about 10% of Snowflake. So, they looked around and they found the guy with a passport to Dutch language proficiency like. Others might say that hes completely brash. I mean, all these greats, right? You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. The interesting thing about data domain was it was very, very slow going. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . Not exactly like a year and a half, he'd been there for seven years. 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. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. They want to know what bad behavior is. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. You hit a mark, you have to do two 360s. We're always picking at things that could be better. Everybody has access to talent. Welcome back. And are there any particular secrets to building a consensus around the idea of change? But one of those issues was that taken over from a founder CEO was really, really hard. It became very meaningful to them. And Americans always think that there's an easy answer to these questions. 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. 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. And today, there's an endless bank of software company elevators, but when you joined Comshare, it was in the nascent days of the tech world. It's lights out, light speed and then fully disintermediated and it's fully programmatic. You relate well to that way of thinking. 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. The pandemic has. You've said that you were really born in the wrong country. And I've never been able to equal that level of success with a marketing slogan. 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. He cuts back where he sees fit. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. And rightfully so, by the way, because they have created something, right?. 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. 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. 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. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. When we first came in there, it was a very, very anxiety-ridden ride in the early days. And historically, people have tried to answer these questions anecdotally. There's no doubt, I'm a total hybrid here. Slootman knows exactly what hes doing. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. And companies that have been around a long time, it's near to impossible to undo the culture. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. And now, welcome inside the ICE House. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. I was like, "Jesus, I spent my whole life trying to get here. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. And you had literally physical media that could logistically manage. Correct, correct. And my email just dribbled down to nothing and all this kind of thing." Data Domain was really an interesting company. Can you explain how you overcame both to lead the company through its 2012 IPO? 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. 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. But you dont achieve a $1.8 billion net worth by being a spendthrift. Now, what that does the weaponizing, what that does is we block everything else out. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. That's not a healthy dynamic. 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. 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. Never heard of that company." It's just, it's hard not to be acquainted at some level with that culture. So, it just started to happen, but I wanted to desperately be in software at that time. Here's why this makes sense while looking at some options. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. I just have been in the line of fire too long. Not all CEOs have this, but a lot of CEOs do. I mean, they had graphical user interfaces that were completely proprietary to that company. Reflects change since 5 pm ET of prior trading day. So, we won a lot of outraces. He's a Dutchman Slootman moved to Silicon Valley in 1997. Tell me about sailing, first of all. While most CEOs 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. 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. Get the world to sort of move onto a different technology platforms, et cetera. They've never really been asked that before. Take our own company, Intercontinental Exchange, for example. And you need to have the flexibility of mind to really deploy yourself. Slootman recently spoke at the CNBC. 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. I'm trying to get into markets, not get out of them, but strategically we had a dilemma and others that we were, what I would call landlocked, maybe another nautical Dutch type of term, because we couldn't get beyond our core business of backup and recovery. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. They're very lonely in their jobs. If you want to know more about this CEO, this might be the book to read. 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. People that the company really, really runs on. At some point, we were going to get stunted in our growth. This is a country that's very aspirational. 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. 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. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. BUILDINGS. Because, and this is another important observation, I think. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. What's your advice about someone climbing the corporate ladder looking to make that leap? That's where we're at right now. 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. Before that, he spent his life in Netherlands, where he was also born. 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. No databases of scale and no file systems with scale. We're driving change. That is how you energize companies. They just have such a hard time doing it because that's who they are, that's what they live for. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Frank Slootman currently serves as Chairman and CEO at Snowflake. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. 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. the internship sort of came about because I was about a year ahead of schedule at the university. 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. 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. And, how do you design single best data operations platform you possibly can?". But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. We call it a turn on the crank and we came out with a product that was at least twice as big, twice as fast, so the market kind of opened up gradually for us. What did that initial scaling up to that point and then the public exit experience teach you about why being acquired was the right choice for Data Domain? It's not that easy. Because now you're buying somebody else's culture. But they do because the world is changing to digital and this is the essence of digital transformation. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. It was great and it lasted the entire duration. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. 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. 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. And that's exactly what we did. Welcome, Frank, inside the Ice House. 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. We tried to, we wanted to get into primary storage. When you run companies, you need to narrow the plane of attack very, very quickly. If it's not related to our core mission, we don't want to hear about it. 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 . And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. 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. We cannot just read our emails and have a few phone conversations and know what's going on. Look, I'm not a certain type of CEO. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" They're very well dialed into it. Good sales people have a track record. In other words, wants to call it out, wants to prosecute it because you can see good behavior, bad behavior around you all day long. Listen to this episode from This Week in Startups on Spotify. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Neither ICE nor its 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, all of which is presented solely for informational and educational purposes. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Read More 10 Things You Didnt Know About Paul StovellContinue. 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? The question is, what are you going to do? 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?" 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). I mean, it's hard to believe at this day and age that things were that way back then, but they were. It wasn't long before top VCs weighed in. 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? We will talk to you next week. 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. I mean, we lived in absolute terror. 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. Okay. So, the earlier you show up, the better off you are. Thanks so much for joining us inside the Ice House. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. Give me that train wreck. 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. I mean, in the book, Frank, you used the analogy of getting in the right elevator. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. You can't help but run into Dutch people everywhere because they have such a small country. right? Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. Theres no surprise here. In other words, as a leadership team, it's not just the CEO. Well, that's because historically all we did was we did analytics in silo. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. 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. 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. 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. And people really want to be led in that manner. 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. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. And then being able to talk about it in an intelligent, really rich-considered manner. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. 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. In other words, "How fast does this might work?" And over time, we overcame that because we were laser focused on making the product bigger and faster every year. Engineers should have a very easy time discerning the talent, so. And by the way, data platforms have been extremely fragmented historically. Anybody who's tried to run HP can talk about that because you have companies that have existed for whatever, 50, 100 years, you don't get rid of culture. What's the playbook?" I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? 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. Because that's what it is. I don't have to go work on Monday. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Leone took Luddy on a host of interviews. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." It was super interesting to me, sort of my first encounter with American management. For example, he made a few changes at Snowflake when he became CEO. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. When a company is buying a million dollars from you in the course of a year, what are they getting? By the way, our two largest competitors were both bidding for the company at the same time. What goes around, comes around and the Dutch get around the world. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career.
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