Now, what that does the weaponizing, what that does is we block everything else out. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Learned an awful lot in that period of time. And the EMC came in and within a quarter, it was up to a $100 million because they had channels and customers and everything primed and ready, right? What kind of people fail here and why?" It was sort of an adjunct to what they called the computer industry back then. Leone took Luddy on a host of interviews. And I say, "Stop putting labels on yourself. And it's just, it's intoxicating that energy. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . You guys are a data company, you know as well, right? Yeah, that goes back about mission posture. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. 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). Everybody has access to capital. You're finding the best sailors in the world and all of that. Right? 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. They want to know what good behavior is. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. So, I ended up in odd places because they didn't know what to do with me. Mar 11, 2021, 11:30 ET. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . But it's also, you attack and you cross again. And like, "How fast does this guy type?" But we didn't have the market capital resources to do that. We're two sides of a coin, which is a reason why we've shown up in so many companies together. Slootman moved to Silicon Valley in 1997. It could address very few use cases. This is really think about it as a database in the Cloud. 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. Now, amid an ongoing legal battle, its got to clean up a very public mess. We will talk to you next week. And when you buy companies, it gets worse, right? Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. So, it's the story, what goes around, comes around, as I said at the beginning. 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. And I had already made a little bit of a name for myself in the company. He cuts back where he sees fit. And that's our conversation for this week. 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. We just never backed off of it. I'm in New York. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. The list of its authors can be seen in its historical. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. I use that expression a lot to say, "Look, data operations is going to become your core." 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. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. Because they can't understand how spending categories can just explode overnight like that. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. And then, I had another internship after that. And having incredible meaning and potency and yield value for applications you never imagined. I always become the CEO that the situation mandates and dictates. I'm on the phone with customers every day. And it was really my wife who said, "No, no, we'll go. 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. 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. Frank Slootman - Topp podcast avsnitt And of course, people chuckled because they recognized it. But then, you go like, "Oh, this is the rest of my life." That's the reason why this country does so well. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. 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? So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". We're going to nuke an entire industry out of existence. And Mike, he takes on the end entire spectrum of controls and administration. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. Snowflake is Slootmans third IPO. We're not trying to find fault with people or who did what to whom. You can't help but run into Dutch people everywhere because they have such a small country. At 61 years old, Slootman has created quite the reputation for himself. And when you're burned out, you don't regenerate anymore. There are many questions left unanswered about the months leading up to Snowflake going public. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Snowflake CEO Frank Slootman Profile - Business Insider That's the point of it. 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Frank Slootman - Narrow the Focus, Increase the Quality - [In How does that work at Snowflake? But it's not what it really is, so it wasn't an enormous surprise to me to come here. Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust You cannot sell your way through a crappy product, okay? Because, if I can't explain it, then I can't predict it. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. In other words, as a leadership team, it's not just the CEO. Listen to this episode from This Week in Startups on Spotify. And if I can't predict it, I can't change my policy, I can't change my pricing." Never heard of that company." Who can solve what set of issues, right? Those are really good conversation, good questions to have because each organization is different. I mean, we had like 15X, the X of the next nearest competitor. It was just like Formula 1 of sailboat racing. I mean, that's how I felt at that time, like I had no more to give. 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." This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. He knows what problems exist in his field today, and he knows how to address them as well. We played a round of golf. That is the most, that is so unproductive. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. 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. And you need to have the flexibility of mind to really deploy yourself. We wanted to buy technology from, what at that time was Veritas, Convo, companies that are still around, because then we could really address the, the functional scale and scope off our platform. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Thanks for listening. Whatever he learned from school is probably what we should all learn. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. Now, most organizations are incredibly in up still in terms of their data promise. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. It will be fine. Quick digression. Frank Slootman - Wikitia Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ But the essence of what I'm getting when I hire you is what you're innately good at. 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. So, we started to wind down a little bit. It's a transformation that is still going on. So, I did. Architecturally, just damn near perfect, so. 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). Not all people are created equal in terms of their roles and their contributions in companies. Look, I'm not a certain type of CEO. Get the world to sort of move onto a different technology platforms, et cetera. Yeah. 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. One company that embodies this vision is ThoughtSpot, an analytics company. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Right? 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. Good sales people have a track record. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. The Dutch have all always been enterprising. I was just shot. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. 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. And then being able to talk about it in an intelligent, really rich-considered manner. I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. And then I change myself to become that flavor of CEO. 2023 Forbes Media LLC. They knew exactly what we meant. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Software company aims to benefit from companies increasingly storing information in multiple clouds Big tech firms are investing. We'll do something good with it. I mean, I was just in my way of life and I was going to stay there till the end of time. Well, they knew now. And rightfully so, by the way, because they have created something, right?. And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. Obviously, that industry had moved on to all kinds of different disk space technologies. It wasn't, and the company wasn't failing financially on its growth objectives. I'm buying aptitude and then I'm going to develop that with experience, right? I mean, it was a super crowded field, but we just crushed that entire field. CEO Outlook | Frank Slootman - KPMG Global Now, as the story goes, England followed the Netherlands in control of Manhattan. You've said that you were really born in the wrong country. Snowflake Appoints Frank Slootman as Chairman and CEO Some may describe him as direct. 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. It became very meaningful to them. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. 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 let's focus on another dilemma that brought up in the book, Frank. And that is our culture. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. Others might say that hes completely brash. You need to sort your issues into, "What am I going to focus on?" And that's all coming up right after this. They just have such a hard time doing it because that's who they are, that's what they live for. BUILDINGS. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. Snowflake Inc. - Wikipedia Let's go." That's when you're at risk. That's why they're big in banking and insurance and distribution and logistics. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. And did you have a sense that the sector was really about to explode? welcome back! 5. It's you're in this job for a reason. Frank Slootman added: " I'm excited to advise Blackstone. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. 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? Snowflake CEO Frank Slootman Wrote the Playbook on How to Amp It Up 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? Take our own company, Intercontinental Exchange, for example. 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? It's a small country, obviously, which is why they sort of veer far and wide. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. Okay? Once you understand relationships, you can now predict them. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. While that is probably not, my temperament is not terribly well-suited for those types of jobs. Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. And for example, when I joined Unysis, I ended up in a corporate planning role. 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. Investors know this about us. Okay. What's the playbook?" That is how you energize companies. You could eject the tape from a tape drive and you could ship it off site. Engineers should have a very easy time discerning the talent, so. What took you back to the Netherlands at one point? Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. You just get into this cycle where all you want to do is leave. Tell me about sailing, first of all. 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? Well, that's because historically all we did was we did analytics in silo. When a company is buying a million dollars from you in the course of a year, what are they getting? What goes around, comes around and the Dutch get around the world. A term that gets used a little bit too much in too many places. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. And we feel the consequences of our actions every minute of the day. Frank Slootman Is No Snowflake | Sequoia Capital US/Europe And if you've got a comment or a question if you'd like one of our experts to tackle on a future show, email us at [emailprotected] or tweet at us @icehousepodcast. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. Then, they discuss Frank's hiring philosophy and how to create a winning relationship between an executive and their direct reports . Before becoming President and CEO, Mark served as Tableaus Executive Vice President of Product Development, coordinating the, Read More 10 Things You Didnt Know about Mark NelsonContinue. Make it as easy as I could make it. And a lot of our people have the same malcontent attitude that I do. Well, you think you're just going to turn it off? 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. You want to be that person, okay? So in hindsight, I understood that I was just burned out, classic burned out. 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. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. All of us, no exceptions." 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. VCs have entered the debate on Snowflake CEO Frank Slootman's comments I mean, it's like when people start to roll their eyes. 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. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. 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?" I actually wanted to retire, truth be told. Buyers and sellers can come together. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . Before that, he spent his life in Netherlands, where he was also born. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. We actually won everything that we wanted to win. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. No databases of scale and no file systems with scale. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. It was great and it lasted the entire duration. I hate that. 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. Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. It's really a company production, by the way. And we were babes in the wood back then. That's not a healthy dynamic. No, we're talking about stuff that's not working well. So as leaders, you very much, I try, no matter how big this company gets, I try to run it like a popsicle stand where we're driving a race boat around the race course, okay. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. If you like what you heard, please rate us on iTunes, so other folks know where to find us. They want to know what bad behavior is. I often refer to those people as passengers and then, they're the drivers. Right, you got a good point. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. [9] In June 2019, the company launched Snowflake Data Exchange. Right? All these things eventually came together. No, I didn't. Welcome back. It's very hard. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. 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. But yeah, aptitude is really about, what are you innately good at? But 233 years later, American, Dutch and British interests are inexorably intertwined. I mean, it's hard to believe at this day and age that things were that way back then, but they were. Yeah. It's just, it's hard not to be acquainted at some level with that culture. We were going to do the world of favor.". And obviously, I got that in spades at UN Royal in Indiana. And there were many, many players in that segment, by 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? So after a while, it's like, "Okay, we've done enough of this." Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. 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.
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