And we were babes in the wood back then. And it wasn't charged for, so companies just couldn't build software because it was just given away. So, I finally caved, okay. Okay? 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. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. I can't get you aptitude. 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? Leone took Luddy on a host of interviews. Everybody has access to capital. Right, you got a good point. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. They also appreciate it. And it's very rare to create that kind of value. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. I mean, it was a super crowded field, but we just crushed that entire field. welcome back! We cannot just read our emails and have a few phone conversations and know what's going on. We'll do something good with it. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. 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. And a lot of our people have the same malcontent attitude that I do. And it's very much a talent game just like business is. I mean, the problem with backup and recovery is, yeah, you can do backups, but the point of backup is recovery because if I can't find or read tapes, I'm still up the creek without a paddle. He's a Dutchman Slootman moved to Silicon Valley in 1997. So, it sort of lit a fire under me, just the prospect of doing that, it just kind of brought me back from my burned out state in 2017 to two years, feeling incredibly challenged, energized, and sort of having a new leash on life, if you will take on something like that. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Never heard of that company." Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. I mean, in the book, Frank, you used the analogy of getting in the right elevator. People naturally become very unfocused, very, very easily. I hate to break it to the audience, but that is the way that it is. They just have such a hard time doing it because that's who they are, that's what they live for. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. What are your God-given talents? In 2011, you joined ServiceNow, a name that's really quite familiar to our listeners where you were confronted by that old conundrum of the CEO founder that we've discussed on this podcast before. Frank Slootman currently serves as Chairman and CEO at Snowflake. And that's the American flavor and flare that has built up over three, almost four decades. I'm the opposite. I mean, you're not going to get excited, "Well, we want to grow 100% this year." Thanks so much for joining us inside the Ice House. I don't know what, if you go back to those days. 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?" In short, money talks, and Slootmans got it in his hands and in his mouth. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. I don't have to go work on Monday. Good sales people have a track record. They did not try to carry technology or ways of thinking forward. BUILDINGS. 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." 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. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? That's when you're at risk. If you like what you heard, please rate us on iTunes, so other folks know where to find us. 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 one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" 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 super interesting to me, sort of my first encounter with American management. 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. At the same time, that was enormous anxiety about how the company was unfolding. This is a very buoyant country. By the way, our two largest competitors were both bidding for the company at the same time. That's the reason why this country does so well. Now, for us, it's a data Cloud. Much like how he runs his companies, Slootman is always direct in his speeches. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. I mean, we had like 15X, the X of the next nearest competitor. What kind of people fail here and why?" So, after six years of success, by any metric, by playing the king on that ServiceNow chess board, why was it time to step down? 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. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. Buyers and sellers can come together. And it worked like that for about a hundred years. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. 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. 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. 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. 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. Brady is a great example, but Joe Montana was that way and they all craved that energy, that excitement, that intensity, they can't let it go. They're very far removed from the drive train. We will talk to you next week. Learn how your comment data is processed. And that's our conversation for this week. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? It's just, it's hard not to be acquainted at some level with that culture. Snowflake is Slootmans third IPO. 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. The question is though, for investors, for others, for employees, how do you keep momentum going now as a public company and how does the future look for Snowflake? Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Because they can't understand how spending categories can just explode overnight like that. 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. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . 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. 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. So, the earlier you show up, the better off you are. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. 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 think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. 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. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. When we first came in there, it was a very, very anxiety-ridden ride in the early days. But yeah, then I was off for two years and I did a lot of sailboat racing and I did talk about that in the book as well, because that was a passion and I'd never been able to do that without guilt. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. This is a country that's very aspirational. Right? So it's a very important question because if I hire you, I can get you experience every day at the week. And the term BI had not even been invented back then. We played a round of golf. I just have been in the line of fire too long. None of that stuff is material to your mission. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. 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. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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 . [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. I mean, we lived in absolute terror. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. 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. Well, that's another thing I don't think about that. It was very formative. That's a running joke that we always have. And our conversation with Frank Slootman on how he amped up his career scaled three companies and the lessons he wants to now share with the world is coming up right after this. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. 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. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. Welcome back. 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. After all, he has experience on his side. That takes very different approaches, orientation, skill sets, and so on what you do. Learned an awful lot in that period of time. No, I didn't. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. 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. That's the point of it. 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. So, they looked around and they found the guy with a passport to Dutch language proficiency like. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. Read More 10 Things You Didnt Know About Paul StovellContinue. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. 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. But 233 years later, American, Dutch and British interests are inexorably intertwined. Most people just preside over culture. See what you can do with it" to data driving operations directly, right? And when you let it happen, you get feed-ups. Better, better all the time. No, we're talking about stuff that's not working well. Not all people are created equal in terms of their roles and their contributions in companies. He cancelled the luxurious annual employee ski trip to Tahoe. Yeah, yeah. I mean, to this day, with all the other things that we've done, I still treasured that experience greatly and it's still a very large business to this day. Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. 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. 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. It doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. Slootman moved to Silicon Valley in 1997. The consequences of your action are like right there. So, we came out there and we said, "Look, no, we're not just going to sell a product here. It's like, "That's not exciting." I mean, the results speak for themselves. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. the internship sort of came about because I was about a year ahead of schedule at the university. The Dutch-born Slootman, who now lives in Montana, has had three hits in a row since 2003: He was made CEO of enterprise storage startup Data Domain and grew it to a $2.4 billion acquisition. And Mike, he takes on the end entire spectrum of controls and administration. Here's your host, Josh King of Intercontinental Exchange. It takes nothing. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. We actually won everything that we wanted to win. 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. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. 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? Every week there was a new bid. It's not just a scale. They knew exactly what we meant. It's hard to get off of that. 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. 5.9% of any company is a huge deal. Our headquarters is in Atlanta, Georgia. You could eject the tape from a tape drive and you could ship it off site. You cannot sell your way through a crappy product, okay? Take our own company, Intercontinental Exchange, for example. And by the way, data platforms have been extremely fragmented historically. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". I was like, "Jesus, I spent my whole life trying to get here. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. Now, what that does the weaponizing, what that does is we block everything else out. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. And you mentioned several times in the book that you look for aptitude over experience, does that focus help snowflake identify young talent and how do you measure aptitude? Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. If there were one person you could sit and learn from today, who would it be? There's new business models. I mean, it gets rid of you. You relate well to that way of thinking. We were entertainment for Wall Street for a six-week period. But you dont achieve a $1.8 billion net worth by being a spendthrift. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. But . So, I ended up going back to, I really didn't want to. 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. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. I mean, all these greats, right? It was sort of an adjunct to what they called the computer industry back then. You ever noticed that NFL quarterbacks just can't leave the stage. I'm in New York. And did you have a sense that the sector was really about to explode? Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? In other words, you got to really mean it, okay? But then again, there really is only one Frank Slootman, IPO master in the world. Right? Don't typecast yourself." I mean, it was doing well. It's been extremely successful since we took over. I mean, it's a hell of a cash burner as well. But it's not what it really is, so it wasn't an enormous surprise to me to come here. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. 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 you had literally physical media that could logistically manage. 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. You can't help but run into Dutch people everywhere because they have such a small country. Well, building culture is a very forceful thing. Early days of ServiceNow was just jungle fighting. But then, you go like, "Oh, this is the rest of my life." And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. Slootmans style of leadership is not gentle at all. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. 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. I mean, it's like when people start to roll their eyes. The biggest guess is that Frank Slootman simply had the track record for having previously taken data storage companies successfully out of trouble and into the future. That's where we're at right now. And I had already made a little bit of a name for myself in the company. Phone: 312.994.4000. You need to sort your issues into, "What am I going to focus on?" So, we were just picking over use cases here and there to sort of stay alive in the early days. 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?" Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. 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. And my email just dribbled down to nothing and all this kind of thing." And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? They're very safe. The eight blocks of the street run from Broadway in the west to the East River in the east. And you can take it or leave it and try it on for size and see if you like it." They were all special purpose for this thing and that thing and that has really created a lot of problems for data center operations, because they just had a Frankenstein architecture out there and people are sick of that. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. It's very hard. You could have a meeting in the hallway with the entire company. And it was really my wife who said, "No, no, we'll go. So, we're going to be in the middle of that. Architecturally, just damn near perfect, so. 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. So, I ended up in odd places because they didn't know what to do with me. And when you're burned out, you don't regenerate anymore. He published a book in 2011 called Tape Sucks. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. 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And then being able to talk about it in an intelligent, really rich-considered manner. I speak with a fat accent and like, "What are we going to do with you, pal?" This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. Yeah. And by the way, for most people, that's a very difficult question. 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.

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