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It's a transformation that is still going on. 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. 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. Did you find it difficult to change Snowflake's established culture? 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. They're very far removed from the drive train. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. 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 Brett Favre was that way. You guys are a data company, you know as well, right? It is data operations from the most transactional to the most analytical and everything in between, so. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. We actually won everything that we wanted to win. Its a positive outlook for Snowflake, and its a bright signal for investors to really pay attention to this company now before its too late. 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. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. This is a country that's very aspirational. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. 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. Our headquarters is in Atlanta, Georgia. Because, if I can't explain it, then I can't predict it. And like, "How fast does this guy type?" You have to have data to partial reality, right? That's a running joke that we always have. Good sales people have a track record. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE And if I can't predict it, I can't change my policy, I can't change my pricing." He cuts back where he sees fit. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. That takes very different approaches, orientation, skill sets, and so on what you do. I don't think about what's next. I'm the opposite. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." It becomes the beating heart of a modern enterprise. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. 5. You want to be that person, okay? But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. We're always picking at things that could be better. When we first came in there, it was a very, very anxiety-ridden ride in the early days. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. And everybody was like, "Who's Data Domain? So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" Now, what that does the weaponizing, what that does is we block everything else out. But EMC prevailed. 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. 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. Yeah. You could have a meeting in the hallway with the entire company. I mean, it's a hell of a cash burner as well. It became very meaningful to them. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. Everybody has ideas. 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. Slootman knows exactly what hes doing. Here's why this makes sense while looking at some options. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. 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. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. We're going to nuke an entire industry out of existence. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. 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. Buyers and sellers can come together. I can't get you aptitude. I'm like, "We're not trying to indict what you've done. The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . But it's not what it really is, so it wasn't an enormous surprise to me to come here. I mean, truly retire. right? In other words, swarm to it instead of distance yourself from it. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. Snowflake now has Frank Slootman as chairman and CEO. And by the way, for most people, that's a very difficult question. We had no experience. Including his options, Slootman owns about 10% of Snowflake. Data Domain was really an interesting company. 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." Slootman applies this philosophy in the workplace as well. I talk to more people than most people in the company do, and that makes me dangerous because I hear directly what is going on - good, bad, and somewhere in between. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. So in hindsight, I understood that I was just burned out, classic burned out. We were going to do the world of favor.". Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . the internship sort of came about because I was about a year ahead of schedule at the university. It was doubling. And I've never been able to equal that level of success with a marketing slogan. I mean, all these greats, right? They're kind of like-. Bunkers is basically a silo that's incredibly hard to access. I always tell my own people, "Look, I'm a piece on the chessboard, okay? It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. So like, "Look, I'm not going to be doing the same races over and over again." 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. And you need to have the flexibility of mind to really deploy yourself. That's actually another important bit of learning with a lot of people take on CEO roles and they keep doing their last job because that's familiar to them and they love it and they keep doing it. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? And the reason that I found it so interesting is technology was mesmerizing. 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? And by the way, data platforms have been extremely fragmented historically. What's the silver bullet? So, the earlier you show up, the better off you are. I'm curious, how that opportunity at Data Domain came to you? Every week there was a new bid. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. From the library of the New York Stock Exchange, at the corner of Wall and Broad Streets in New York City, you're inside the ICE House, our podcast from Intercontinental Exchange on markets, leadership and vision in global business. At the same time, that was enormous anxiety about how the company was unfolding. He cancelled the luxurious annual employee ski trip to Tahoe. Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. You can only sail so much, [crosstalk 00:31:19]. It's hard to get off of that. While that is probably not, my temperament is not terribly well-suited for those types of jobs. And by the way, the inverse of that is what are you not good at? 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. So, it was an incredible trial by fire. 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. This is really think about it as a database in the Cloud. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 And we were babes in the wood back then. Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in Slootman moved to Silicon Valley in 1997. 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. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC You have served, as I intimated in the introduction, as the CEO of companies in Silicon Valley and now, Montana, but your story really begins 5,500 miles away from the West Coast. You need to sort your issues into, "What am I going to focus on?" It's very hard. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. And we feel the consequences of our actions every minute of the day. 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. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. And that went on literally for years, okay? It's really a company production, by the way. 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. It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. 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. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. What's your advice about someone climbing the corporate ladder looking to make that leap? [23] Slootman has become somewhat of a business hero for many people, myself included. What kind of people fail here and why?" 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. And I said, "Why not?" Read More 10 Things You Didnt Know About Paul StovellContinue. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. It's not that easy. One company that embodies this vision is ThoughtSpot, an analytics company. I mean, you're not going to get excited, "Well, we want to grow 100% this year." Snowflake CEO on customer spending, weak guidance, A.I. and the company 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. 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. And companies that have been around a long time, it's near to impossible to undo the culture. That's the point of it. And it worked like that for about a hundred years. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. It's like it's full of feedback. We cannot just read our emails and have a few phone conversations and know what's going on. For example, he made a few changes at Snowflake when he became CEO. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. 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. 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. 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. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. The book accounts his time in Data Domain and so much more. But you dont achieve a $1.8 billion net worth by being a spendthrift. Frank Slootman - Forbes Snowflake CEO Frank Slootman Profile - Business Insider No databases of scale and no file systems with scale. 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. This site uses Akismet to reduce spam. In the Dutchman Frank Slootman, a non-coddling, no-nonsense executive who had taken Data Domain public before selling it to EMC, Leone saw "a match made . Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. Well, the number one bit of advice I would have is make sure you're close to the drive train. We played a round of golf. The interesting thing about data domain was it was very, very slow going. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. 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. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. So, this is not data warehousing, it's just one use case. 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." Frank Slootman - Wikitia Look, I'm not a certain type of CEO. What is the core of your being, right? CEO Outlook | Frank Slootman - KPMG Global And that is a common thread through all our companies. And, how do you design single best data operations platform you possibly can?". [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. Obviously all the financial reporting, all the systems. And you can't play chess pieces in a million different ways, right? Okay. Frank Slootman - Narrow the Focus, Increase the Quality - [In Now, as the story goes, England followed the Netherlands in control of Manhattan. 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.. Software was barely an industry. 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. But you mentioned this earlier, it isn't really what happened. [1] A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ So, I did. It was small, it was slow. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. None of that stuff is material to your mission. But this was quickly set aside because Frank appears to walk the walk. Now, most organizations are incredibly in up still in terms of their data promise. It was super interesting to me, sort of my first encounter with American management. I only think about now and what I'm doing today. 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. 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. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Check out the subtleties of his Wikipedia below. Open main menu Close main menu Home About Us Contact Us States Advanced Search Well, you think you're just going to turn it off? As we're recording this in early 2022, the competition for talent has reached a boiling point. BUILDINGS. 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. I mean, that's how aligned this is, okay? Before that, he spent his life in Netherlands, where he was also born. I mean, what drove you to move on? Let me bring you back 10 years to 2012, Benoit Dageville, Thierry Cruanes, and Marcin ukowski started Snowflake as the secret name of the startup they were working on during that particularly hot summer. Frank Slootman Is No Snowflake | Sequoia Capital US/Europe So, they looked around and they found the guy with a passport to Dutch language proficiency like. Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. 951 Chicago Ave., Oak Park, IL 60302. They knew exactly what we meant. And having incredible meaning and potency and yield value for applications you never imagined. 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? Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. So, we came up with this war cry that said, "Tape sucks, move on." And of course, people chuckled because they recognized it. And there were many, many players in that segment, by the way. We had this very high profile bidding war between the EMC and NetApp at that time. People that the company really, really runs on. 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. Did you always have your eyes set on a career in the US? 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." You arrived at something like tape sucks. You can't help but run into Dutch people everywhere because they have such a small country. But in the end, it's like we have to get into backup software in which we tried. The good thing is you dont have to actually sit in with Slootman to get his lessons. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. 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If it's not related to our core mission, we don't want to hear about it. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Windows 3.1 didn't even exist. That culture really keeps you safe from being indulgent or just, you're sort of presiding. 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. So, we started to wind down a little bit. Todays companies all want to achieve exponential growth and according to Frank Slootman, author of a new book for business leaders, every organization has the potential to scale to massive heights. The founder brings you in to scale up the company, but finds it difficult to step aside. Yeah, that goes back about mission posture. Instead, hes got something equally as coola sailing boat named The Invisible Hand. Snowflake CEO Frank Slootman Talks IPO Pop: Narrative Of Lost - Forbes Instacart Appoints Frank Slootman, Chairman And CEO Of - Insider Slootmans style of leadership is not gentle at all. How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider Everything in our world starts with technology, starts with architecture, okay? I don't care for any of that. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. 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. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. 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? The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. Are you just going to look the other way or are you going to call it out? There are many questions left unanswered about the months leading up to Snowflake going public. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. So, I ended up going back to, I really didn't want to. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC Because now you're buying somebody else's culture. But the problem with tape was, I mean, tape got lost, tape became unreadable. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. I mean, it was doing well. And it's very rare to create that kind of value. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. 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. 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 IPO was the third for Dutch-born Slootman,. You're finding the best sailors in the world and all of that. And Americans always think that there's an easy answer to these questions. It's just, it's hard not to be acquainted at some level with that culture. And Mike, he takes on the end entire spectrum of controls and administration. At the same time, I ended up in conversations with the lead director and investor at Snowflake. 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. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. A term that gets used a little bit too much in too many places. 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. 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.

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