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. But this was quickly set aside because Frank appears to walk the walk. But it's also, you attack and you cross again. 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 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. 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. It's a transformation that is still going on. When some of these firms moved out to Canary Wharf, they decided that actually, it was too much to be sending people to the room, so they moved it to a phone call to buy and sell and establishing a price. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. So, we won a lot of outraces. 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. If you like what you heard, please rate us on iTunes, so other folks know where to find us. But he had also been the CEO of ServiceNow for seven years. 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. But it's not what it really is, so it wasn't an enormous surprise to me to come here. 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? We just never backed off of it. Most people just preside over culture. But in the end, it's like we have to get into backup software in which we tried. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. That's where we're at right now. Buyers and sellers can come together. What's the playbook?" 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. When I was at Data Domain, hell, we were 15 people when I joined there. And having incredible meaning and potency and yield value for applications you never imagined. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. 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. Phone: 312.994.4000. What's the silver bullet? Frank Slootman - Narrow the Focus, Increase the Quality - [In I remember having a conversation with the CEO of a very large healthcare company. And for example, when I joined Unysis, I ended up in a corporate planning role. 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 don't know what, if you go back to those days. But then, you go like, "Oh, this is the rest of my life." That's awesome. That culture really keeps you safe from being indulgent or just, you're sort of presiding. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? So after a while, it's like, "Okay, we've done enough of this." 5.9% of any company is a huge deal. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. And you can't play chess pieces in a million different ways, right? When you get that sensation, you do need to leave because you're no longer the right person for that situation. The eight blocks of the street run from Broadway in the west to the East River in the east. Well, they knew now. But yeah, aptitude is really about, what are you innately good at? You're finding the best sailors in the world and all of that. And opinions, everybody's got one, but data doesn't lie. 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? Where I come from, people are quite resigned to their fate. But the problem with tape was, I mean, tape got lost, tape became unreadable. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. You can only sail so much, [crosstalk 00:31:19]. But one of those issues was that taken over from a founder CEO was really, really hard. No databases of scale and no file systems with scale. Because, if I can't explain it, then I can't predict it. I'm in New York. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . And, how do you design single best data operations platform you possibly can?". And historically, people have tried to answer these questions anecdotally. Slootman recently spoke at the CNBC. That is the most, that is so unproductive. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. I always become the CEO that the situation mandates and dictates. No. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. 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. I mean, the results speak for themselves. After the break Snowflake's CEO Frank Slootman and I are going to preview and review some of the other lessons in his new book, Amp It Up. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. 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." Much like how he runs his companies, Slootman is always direct in his speeches. Learned an awful lot in that period of time. And then I change myself to become that flavor of CEO. And Mike was still the CEO at ServiceNow at that time. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. Not exactly like a year and a half, he'd been there for seven years. Yeah. 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. 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. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. That takes very different approaches, orientation, skill sets, and so on what you do. As I said, what comes around, goes around. It's a small country, obviously, which is why they sort of veer far and wide. It became very meaningful to them. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. In other words, they kind of let it happen. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . Tell me about sailing, first of all. Over the past 20 years, as CEO of Data Domain and then ServiceNow and now Snowflake, Frank Slootman has generated extraordinary growth and success for each company and established himself as one of the world's top CEOs. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. 5. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. And that is our culture. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. We were entertainment for Wall Street for a six-week period. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. 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 actually won everything that we wanted to win. Let's go." Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. I can't do every speaking engagement," et cetera. Frank Slootman Chairman and CEO at Snowflake Bozeman, Montana, United States 32K followers 500+ connections Join to follow Snowflake Erasmus University Rotterdam Articles by Frank Drivers vs.. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Company still around, by the way. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. But let's focus on another dilemma that brought up in the book, Frank. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Welcome back. It was great and it lasted the entire duration. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. 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. And it worked like that for about a hundred years. CEO Frank Slootman made $287,990 in salary in 2019. 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 then being able to talk about it in an intelligent, really rich-considered manner. 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. He published a book in 2011 called Tape Sucks. And I'm like, "You know what? 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." I mean, it was a super crowded field, but we just crushed that entire field. After joining almost at the start in 2003, Slootman helped. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. It's lights out, light speed and then fully disintermediated and it's fully programmatic. Things will change in ways you cannot even imagine the ideas that happen. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. I mean, we lived in absolute terror. Slootman said diversity comes second when making . I mean, it was doing well. And when you let it happen, you get feed-ups. Right? The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? We don't preside, okay? The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Snowflake CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. So, I did. The interesting thing about data domain was it was very, very slow going. The consequences of your action are like right there. So, this is not data warehousing, it's just one use case. You hit a mark, you have to do two 360s. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Everybody has access to talent. It's just our nature to talk about problems." It could address very few use cases. So, we came up with this war cry that said, "Tape sucks, move on." This page was last edited on 12 March 2021, at 18:12. They knew exactly what we meant. And then Snowflake is again, a totally different. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." I was just shot. I use that expression a lot to say, "Look, data operations is going to become your core." 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. Back then, there were hardly any software companies around. Did you find it difficult to change Snowflake's established culture? I mean, you're not going to get excited, "Well, we want to grow 100% this year." Well, that's because historically all we did was we did analytics in silo. He cancelled the luxurious annual employee ski trip to Tahoe. 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. It was sort of an adjunct to what they called the computer industry back then. 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. So now, we're having business conversations about data. I hate to break it to the audience, but that is the way that it is. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. And that's all coming up right after this. The book accounts his time in Data Domain and so much more. So, we were just picking over use cases here and there to sort of stay alive in the early days. We'll do something good with it. Okay. Reflects change since 5 pm ET of prior trading day. And the term BI had not even been invented back then. He's a pretty good golfer. Good sales people have a track record. 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. When a company is buying a million dollars from you in the course of a year, what are they getting? 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. 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. Who can solve what set of issues, right? 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. 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. None of that stuff is material to your mission. Right? Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. It wasn't, and the company wasn't failing financially on its growth objectives. We were going to do the world of favor.". I'm the opposite. We tried to, we wanted to get into primary storage. 2023 Forbes Media LLC. We cannot just read our emails and have a few phone conversations and know what's going on. Correct, correct. It's just, it's hard not to be acquainted at some level with that culture. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. Given his accolades, Slootman gets invited to speak at many events. That's a running joke that we always have. And there were many, many players in that segment, by the way. I can just blow a year on doing some other stuff that's interesting." And people would eyeball those reports in those dashboards, and that was sort of the extent of it. This property is owned by Frank & Brenda Slootman. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. Data Domain was really an interesting company. That's the reason why this country does so well. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. This site uses Akismet to reduce spam. 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