I don't care for any of that. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. 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. Look, I'm not a certain type of CEO. It's just, it's hard not to be acquainted at some level with that culture. But they do because the world is changing to digital and this is the essence of digital transformation. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. When you run companies, you need to narrow the plane of attack very, very quickly. What did that initial scaling up to that point and then the public exit experience teach you about why being acquired was the right choice for Data Domain? I don't know what, if you go back to those days. Okay? 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. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. We're going to nuke an entire industry out of existence. 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." I actually wanted to retire, truth be told. And when you let it happen, you get feed-ups. And then Snowflake is again, a totally different. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." But then, there's new platforms in terms of the Public Clouds, right? [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. We played a round of golf. 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. 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. I mean, that's how I felt at that time, like I had no more to give. 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." How does that work at Snowflake? What's the playbook?" But yeah, aptitude is really about, what are you innately good at? Engineers should have a very easy time discerning the talent, so. So, we came out there and we said, "Look, no, we're not just going to sell a product here. 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. What was that? SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . 5. And when you're burned out, you don't regenerate anymore. What you're doing now is doing pretty good, so keep yourself in the game, Frank. I mean, what drove you to move on? Here's why this makes sense while looking at some options. And that's all coming up right after this. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. I mean, anecdotal observation has pretty much run its course. And rightfully so, by the way, because they have created something, right?. 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. Slootman has become somewhat of a business hero for many people, myself included. And Mike, he takes on the end entire spectrum of controls and administration. Slootman said diversity comes second when making . And that's exactly what we did. Who can solve what set of issues, right? 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. We call it a turn on the crank and we came out with a product that was at least twice as big, twice as fast, so the market kind of opened up gradually for us. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Everyone's watching. He's a Dutchman Slootman moved to Silicon Valley in 1997. It was sort of an adjunct to what they called the computer industry back then. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. This is a country that's very aspirational. Yeah, there's no doubt. So, it was an incredible trial by fire. So it's a very important question because if I hire you, I can get you experience every day at the week. I'm on the phone with customers every day. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. We now use consumption models instead of subscription models. Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. I mean, it was doing well. So, it's the story, what goes around, comes around, as I said at the beginning. 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. So, I did. But one of those issues was that taken over from a founder CEO was really, really hard. 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? 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 could address very few use cases. 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. 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. 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. Can you explain how you overcame both to lead the company through its 2012 IPO? But we didn't have the market capital resources to do that. We'll do something good with it. I'm buying aptitude and then I'm going to develop that with experience, right? Much like how he runs his companies, Slootman is always direct in his speeches. This is really think about it as a database in the Cloud. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. And now, welcome inside the ICE House. He published a book in 2011 called Tape Sucks. 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. Did you find it difficult to change Snowflake's established culture? But the essence of what I'm getting when I hire you is what you're innately good at. Our European futures operation is based in London, England, and a big part of that operation is futures trading for Dutch Natural Gas at the Title Transfer Facility or TTF, virtual trading point in Amsterdam. There's no doubt, I'm a total hybrid here. I hate to break it to the audience, but that is the way that it is. They knew exactly what we meant. That is the most, that is so unproductive. And there is a following for this and the reason that we know that is because we wrote a book back in 2009, 2010, that sort of became a combat manual for entrepreneurs over the years where, because this is really for people that have nowhere else to turn. And it's like, "Well, why does that matter?" Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. Well, the number one bit of advice I would have is make sure you're close to the drive train. I mean, it's like when people start to roll their eyes. We left off before the break with your decision to literally set sail after 33 years of a career that took you all over the globe, including bringing two companies public. 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 over time, we overcame that because we were laser focused on making the product bigger and faster every year. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. All of which is presented solely for informational and educational purposes. Everything in our world starts with technology, starts with architecture, okay? I hate that. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. It's really a company production, by the way. 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. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. They did not try to carry technology or ways of thinking forward. And we were babes in the wood back then. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? He knows what problems exist in his field today, and he knows how to address them as well. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Nothing to do with financial targets or growth targets or market capitalization. I mean, it's a hell of a cash burner as well. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. Every week there was a new bid. Data has no opinion. Given his accolades, Slootman gets invited to speak at many events. 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. In other words, you got to really mean it, okay? We cannot just read our emails and have a few phone conversations and know what's going on. In other words, they kind of let it happen. 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. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. So, we're going to be in the middle of that. Get the world to sort of move onto a different technology platforms, et cetera. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. But you mentioned this earlier, it isn't really what happened. 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. 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. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. 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? 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. A compensation package he received upon joining Snowflake in April 2019 awards him a. At some point, we were going to get stunted in our growth. I mean, there's many jobs in companies and some of them are quite far removed. We're not trying to find fault with people or who did what to whom. IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. So like, "Look, I'm not going to be doing the same races over and over again." And are there any particular secrets to building a consensus around the idea of change? It was very formative. And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. And that is a common thread through all our companies. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Frank Slootman - Narrow the Focus, Increase the Quality - [In It pays a lot to be in the business of knowing what you do, and Slootman knows more than the rest of us when it comes to money, the market, and the software industry. 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. But then, you go like, "Oh, this is the rest of my life." Learn how your comment data is processed. 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. 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. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? I don't have to go work on Monday. No, I didn't. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. 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. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. No databases of scale and no file systems with scale. And opinions, everybody's got one, but data doesn't lie. And by the way, for most people, that's a very difficult question. I was a huge fan coming here. 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. Because, and this is another important observation, I think. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. They sold the living hell out of that product. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. 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. I can't do every speaking engagement," et cetera. Frank Slootman added: " I'm excited to advise Blackstone. Leone took Luddy on a host of interviews. Buyers and sellers can come together. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. The list of its authors can be seen in its historical. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. It is data operations from the most transactional to the most analytical and everything in between, so. And a lot of our people have the same malcontent attitude that I do. And it wasn't charged for, so companies just couldn't build software because it was just given away. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. 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 . When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Learned an awful lot in that period of time. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Then, they discuss Frank's hiring philosophy and how to create a winning relationship between an executive and their direct reports . It's really every leader in the organization needs to internalize and then, want to act on it. It becomes the beating heart of a modern enterprise. And you can take it or leave it and try it on for size and see if you like it." I can't get you aptitude. to keep connected with us, please login with your personal info. This is very much a country that believes things that other countries don't believe. That's the point of it. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. And you had literally physical media that could logistically manage. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. They're kind of like-. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. But . A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. But in the end, it's like we have to get into backup software in which we tried. When we first came in there, it was a very, very anxiety-ridden ride in the early days. And that is our culture. We had this very high profile bidding war between the EMC and NetApp at that time. And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. Americans are, it doesn't matter what profession they're in, they always believe they can do better. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. Everybody has access to talent. Slootmans style of leadership is not gentle at all. And today, there's an endless bank of software company elevators, but when you joined Comshare, it was in the nascent days of the tech world. And it worked like that for about a hundred years. By the close of. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. Photo by Christie Hemm Klok/The Forbes Collection. They're very safe. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. What's your advice about someone climbing the corporate ladder looking to make that leap? I can just blow a year on doing some other stuff that's interesting." So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. 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. They're kind of like whine and bitch all day. The question is, what are you going to do? You arrived at something like tape sucks. Well, you think you're just going to turn it off? 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. You could have a meeting in the hallway with the entire company. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits.