I mean, all these greats, right? We're driving change. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. In other words, "How fast does this might work?" Okay. And then, I had another internship after that. Well, you think you're just going to turn it off? This is a very buoyant country. We were entertainment for Wall Street for a six-week period. Slootman knows exactly what hes doing. 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. 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. Yeah. Now, what that does the weaponizing, what that does is we block everything else out. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. And rightfully so, by the way, because they have created something, right?. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. 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. So after a while, it's like, "Okay, we've done enough of this." I mean, I was just in my way of life and I was going to stay there till the end of time. If you like what you heard, please rate us on iTunes, so other folks know where to find us. What kind of people fail here and why?" Right? [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. Everyone's watching. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To Because you're like, "Oh, this is great. 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. I mean, it was doing well. And he always talked about Snowflake because it was a very exciting company to him and I didn't know that much about it, but enough to have a conversation. 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. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. At 61 years old, Slootman has created quite the reputation for himself. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. 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. I'm buying aptitude and then I'm going to develop that with experience, right? Frank Lloyd Wright Home and Studio. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. Instead, hes got something equally as coola sailing boat named The Invisible Hand. 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. Americans are, it doesn't matter what profession they're in, they always believe they can do better. 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. It's really every leader in the organization needs to internalize and then, want to act on it. 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. You could have a meeting in the hallway with the entire company. 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 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. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. 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. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE A term that gets used a little bit too much in too many places. You guys are a data company, you know as well, right? When you get that sensation, you do need to leave because you're no longer the right person for that situation. He published a book in 2011 called Tape Sucks. 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. Welcome back. Photo by Christie Hemm Klok/The Forbes Collection. 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. 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. You hit a mark, you have to do two 360s. And people really want to be led in that manner. And then of course, Michael Dell found just as attractive to bring EMC into Dell. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. I always become the CEO that the situation mandates and dictates. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. It was sort of an adjunct to what they called the computer industry back then. I always tell my own people, "Look, I'm a piece on the chessboard, okay? But if you're performing at Tom Brady's level, you have no reason to step aside. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." But yeah, aptitude is really about, what are you innately good at? 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). Because now you're buying somebody else's culture. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. What are your God-given talents? In other words, swarm to it instead of distance yourself from it. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." This is probably the biggest understatement of the year. That's NYSE ticker symbol, S-N-O-W. His book from John Wiley and Sons, Amp It Up: Leading For Hypergrowth By Raising Expectations, Increasing Urgency, and Elevating Intensity is in bookstores and online now. Here's why this makes sense while looking at some options. Did you find it difficult to change Snowflake's established culture? Are you just going to look the other way or are you going to call it out? It was very formative. It is data operations from the most transactional to the most analytical and everything in between, so. Give me that train wreck. Leone took Luddy on a host of interviews. It was great and it lasted the entire duration. Windows 3.1 didn't even exist. Slootman may be someone you wouldnt be comfortable sitting face-to-face with, but hes definitely someone you can listen to in a room full of people. The introduction of risk management tools for LNG freight will boost the efficiency of the virtual pipeline of LNG, a new catalyst for the liberalization of LNG and a critical milestone in the globalization of natural gas. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. Good sales people have a track record. They've never really been asked that before. That's the point of it. The information contained in this podcast was obtained in part from publicly available sources and not independently verified, neither ICE nor is affiliates, make any representations or warranties, express or implied as to the accuracy or completeness of the information and do not sponsor, approve or endorse any of the content herein. 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. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. While that is probably not, my temperament is not terribly well-suited for those types of jobs. And the reason that I found it so interesting is technology was mesmerizing. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC But the world of backup and recovery, was dominated, as you said, by tape automation technologies. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. Nothing to do with financial targets or growth targets or market capitalization. If it's not related to our core mission, we don't want to hear about it. In other words, you got to really mean it, okay? But . Yeah. I mean, the results speak for themselves. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. I only think about now and what I'm doing today. And then I change myself to become that flavor of CEO. No. This property is owned by Frank & Brenda Slootman. When I in Ohio, I joined copy ware in Farmington Hills, Michigan, and I had not even been there a few month and they acquired a sizable company in Holland, a company called Uniface. So, I ended up going back to, I really didn't want to. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." That's the reason why this country does so well. 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. Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in 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. You just get into this cycle where all you want to do is leave. Our headquarters is in Atlanta, Georgia. All Rights Reserved. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. Slootman said diversity comes second when making . You have to have data to partial reality, right? Presiding is the worst word. 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 . So, you need to create a platform that allows data to be enriched and be joined and be blended and be overlaid in ways that data scientist only have insight into. It will be fine. Now, as the story goes, England followed the Netherlands in control of Manhattan. Much like how he runs his companies, Slootman is always direct in his speeches. They knew exactly what we meant. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. He cuts back where he sees fit. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. But you dont achieve a $1.8 billion net worth by being a spendthrift. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Now, for us, it's a data Cloud. As I said, what comes around, goes around. 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. 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 mean, one of my favorite, interview questions has always been, "What kind of people succeed here? It's very hard. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. So, it was an incredible trial by fire. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. And that is a common thread through all our companies. 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. And now, welcome inside the ICE House. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. You cannot sell your way through a crappy product, okay? Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. This page was last edited on 12 March 2021, at 18:12. [23] And you need to have the flexibility of mind to really deploy yourself. 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. 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. The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. 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. Once you understand relationships, you can now predict them. You've said that you were really born in the wrong country. If you want to know more about this CEO, this might be the book to read. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. Right? The Frank Lloyd Wright Suite at This Tokyo Hotel Is a Midcentury Modern I was a huge fan coming here. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. It's like it's full of feedback. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. People that the company really, really runs on. So, we won a lot of outraces. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. It was just like Formula 1 of sailboat racing. At the same time, I ended up in conversations with the lead director and investor at Snowflake. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. 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. The founder brings you in to scale up the company, but finds it difficult to step aside. But with three IPOs in your rear view mirror and one attempt at retirement already failing to stick, what do you see as the next chapter in Frank Slootman's journey? The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. 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. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . 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. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. We're going to nuke an entire industry out of existence. It is a future state that we're all working on right now. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. That's where we're at right now. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. 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. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Whatever he learned from school is probably what we should all learn. So, because we all have our that's sell of awareness. Because they can't understand how spending categories can just explode overnight like that. [9] In June 2019, the company launched Snowflake Data Exchange. 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. 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." 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. And that's the American flavor and flare that has built up over three, almost four decades. What's the silver bullet? 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. And when you buy companies, it gets worse, right? Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. 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. Snowflake CEO Frank Slootman Talks IPO Pop: Narrative Of Lost - Forbes

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