And in other words, I was already negotiating Mike's package before I had joined ServiceNow. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. And companies that have been around a long time, it's near to impossible to undo the culture. All of which is presented solely for informational and educational purposes. I was a huge fan coming here. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. In other words, as a leadership team, it's not just the CEO. 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. 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. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. 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. We were going to do the world of favor.". Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Don't typecast yourself." It's been extremely successful since we took over. I can just blow a year on doing some other stuff that's interesting." You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Meaning that we would run something like Tableau on top of Salesforce or whatever. He's a Dutchman Slootman moved to Silicon Valley in 1997. I mean, all these greats, right? Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? Creative Commons Attribution-ShareAlike. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Right? They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. Did you always have your eyes set on a career in the US? I mean, what drove you to move on? They also appreciate it. It wasn't, and the company wasn't failing financially on its growth objectives. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. And that's our conversation for this week. Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. 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. 2023 Forbes Media LLC. CEO Frank Slootman made $287,990 in salary in 2019. This property is owned by Frank & Brenda Slootman. 5.9% of any company is a huge deal. Can you explain how you overcame both to lead the company through its 2012 IPO? 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. All of us, no exceptions." It wasn't long before top VCs weighed in. Now, we're going to go move the pieces and I'm just a piece on the chessboard." The. You need to sort your issues into, "What am I going to focus on?" They want to know what good behavior is. Right. And essentially, he defends. Are you just going to look the other way or are you going to call it out? When you run companies, you need to narrow the plane of attack very, very quickly. Theres no surprise here. Including his options, Slootman owns about 10% of Snowflake. 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. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. And it's very rare to create that kind of value. And rightfully so, by the way, because they have created something, right?. A term that gets used a little bit too much in too many places. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. I don't know what, if you go back to those days. And that's a whole different deal. So, I did. The question is, what are you going to do? I mean, anecdotal observation has pretty much run its course. But then, there's new platforms in terms of the Public Clouds, right? Everyone's watching. Slootman recently spoke at the CNBC. Others might say that hes completely brash. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. 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? I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. Engineers should have a very easy time discerning the talent, so. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. 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. The eight blocks of the street run from Broadway in the west to the East River in the east. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? So, it just started to happen, but I wanted to desperately be in software at that time. 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. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. I mean, it was doing well. We'll do something good with it. In other words, wants to call it out, wants to prosecute it because you can see good behavior, bad behavior around you all day long. So, we came out there and we said, "Look, no, we're not just going to sell a product here. You can only sail so much, [crosstalk 00:31:19]. They want to know what bad behavior is. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. I mean, you're not going to get excited, "Well, we want to grow 100% this year." 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. 5. Take our own company, Intercontinental Exchange, for example. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. He cuts back where he sees fit. And then being able to talk about it in an intelligent, really rich-considered manner. 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. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. It's not that easy. 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. I often refer to those people as passengers and then, they're the drivers. The Dutch have all always been enterprising. That's why they're big in banking and insurance and distribution and logistics. 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. Now, tape technologies go all the way back to the early days of computing, because that was the form of magnetic storage that we had. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. 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. Right? Here's why this makes sense while looking at some options. He's like, "How do we run a supply chain?" At some point, we were going to get stunted in our growth. JP Morgan paid $175 million for a startup it believes it was conned into buying. Windows 3.1 didn't even exist. So, it was an incredible trial by fire. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." The improvement in technology is one of the main reasons that this commercial scene is flourishing by the, Read More 10 Things You Didnt Know about Loggi CEO Fabien MendezContinue, Tableau Softwares President and CEO Mark Nelson defines Tableaus vision and supervises the companys business operations and procedures. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. And we were babes in the wood back then. Our headquarters is in Atlanta, Georgia. Right? Data Domain was really an interesting company. 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. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. This is very much a country that believes things that other countries don't believe. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. What are your God-given talents? I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. Yeah. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. 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. Slootman has become somewhat of a business hero for many people, myself included. 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. It's a small country, obviously, which is why they sort of veer far and wide. I'm in New York. While that is probably not, my temperament is not terribly well-suited for those types of jobs. So, we started to wind down a little bit. Yeah, yeah. 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 is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. We're not trying to find fault with people or who did what to whom. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Back then, there were hardly any software companies around. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. 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. It's like it's full of feedback. 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 we feel the consequences of our actions every minute of the day. At 61 years old, Slootman has created quite the reputation for himself. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. 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. [1] 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. Learned an awful lot in that period of time. That's the point of it. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? And I've never been able to equal that level of success with a marketing slogan. 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. 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. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. 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. Open main menu Close main menu Home About Us Contact Us States Advanced Search Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. I mean, you probably have even a sense of things that you know you're not good at. Snowflake now has Frank Slootman as chairman and CEO. He knows what problems exist in his field today, and he knows how to address them as well. So, a book becomes highly scalable way of really creating some well-curated observations around "Look, here's what we believe to be true about the trajectory that we've been on. Okay? Why did you give up the helm of the invisible hand for this new role with Snowflake? The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . At the same time, I ended up in conversations with the lead director and investor at Snowflake. 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. It's up to 79% of the volume has gone cleared. So, we're going to be in the middle of that. So, this is not data warehousing, it's just one use case. So like, "Look, I'm not going to be doing the same races over and over again." 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. You have to have data to partial reality, right? [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. 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 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. 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. 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? Thanks for listening. It was small, it was slow. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. Insurance companies historically have not been because they are data companies by their essence, right? They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? Helping women become better in negotiation is an urgent and essential task for organizations and individuals. 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. And by the way, for most people, that's a very difficult question. There's no doubt, I'm a total hybrid here. Who can solve what set of issues, right? I mean, it was just trying to stay alive. In other words, somebody who has lived their lives over and over. You hit a mark, you have to do two 360s. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. But the problem with tape was, I mean, tape got lost, tape became unreadable. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. All these things eventually came together. 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. None of that stuff is material to your mission. They're very safe. And I said, "Why not?" This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. See what you can do with it" to data driving operations directly, right? I always become the CEO that the situation mandates and dictates. 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 by the way, the inverse of that is what are you not good at? And then I change myself to become that flavor of CEO. They're very well dialed into it. It's like, "That's not exciting." One company that embodies this vision is ThoughtSpot, an analytics company. Company still around, by the way. That's not a healthy dynamic. 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. But then again, there really is only one Frank Slootman, IPO master in the world. So, we came up with this war cry that said, "Tape sucks, move on." I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. It was just like Formula 1 of sailboat racing. Yeah, that goes back about mission posture. At the same time, that was enormous anxiety about how the company was unfolding. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. But in the end, it's like we have to get into backup software in which we tried. No, I didn't. 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. Americans are, it doesn't matter what profession they're in, they always believe they can do better. But eventually, I returned to Holland about a year later, resumed my education. 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. Now, most organizations are incredibly in up still in terms of their data promise. Well, the number one bit of advice I would have is make sure you're close to the drive train. 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? There's new business models. Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. 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. People were looking at my credentials. I speak with a fat accent and like, "What are we going to do with you, pal?" So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. 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.. Yacht Racing is incredibly exciting and then it has a lot of corollaries to business because it's this multidimensional game of weather and competition, and what happens on the race course and reacting to it. Whatever he learned from school is probably what we should all learn. Reflects change since 5 pm ET of prior trading day. Well, you think you're just going to turn it off? We tried to, we wanted to get into primary storage. That's where we're at right now. Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. They've never really been asked that before. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. 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? You want to be that person, okay? Obviously, I was a young man and not even in my mid-30s and I'm taking over a whole business, a whole organization, global, all this kind of stuff, so, it was a hell of. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. 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. And when the whole world goes direct to consumer and it becomes disintermediated and goes wholly digital, the role of data obviously becomes insanely important. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? I remember having a conversation with the CEO of a very large healthcare company. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. And having incredible meaning and potency and yield value for applications you never imagined. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. Read More 10 Things You Didnt Know About Paul StovellContinue. It's really every leader in the organization needs to internalize and then, want to act on it. But . right? Okay. As I said, what comes around, goes around. You speak the language, like we do, but there is something different about you." Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. 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. CEO Frank Slootman told CNBC in January that after the Covid-19 outbreak forced people to work from home, it became clear that the old way of working wasn't going to return. I mean, in the book, Frank, you used the analogy of getting in the right elevator. 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. What kind of people fail here and why?" But then, you go like, "Oh, this is the rest of my life." I'm Josh King, your host, signing off from the library of the New York Stock Exchange. And I'm like, "You know what? What was that? Frank has been involved in the business programming market for over 25 years as a business visionary and chief. Frank Lloyd Wright Home and Studio. Given his accolades, Slootman gets invited to speak at many events. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." 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. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. This is a country that's very aspirational. I can't get you aptitude. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. What's the silver bullet? Tell me about sailing, first of all. No, we're talking about stuff that's not working well. But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. I mean, it's a hell of a cash burner as well. Software was barely an industry. Now, for us, it's a data Cloud. I was just shot. They're very lonely in their jobs. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. 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. 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. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. And it wasn't charged for, so companies just couldn't build software because it was just given away. Get the world to sort of move onto a different technology platforms, et cetera. It was sort of an adjunct to what they called the computer industry back then. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. This article "Frank Slootman" is from Wikipedia. And you can take it or leave it and try it on for size and see if you like it." Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. By the close of. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" 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." But we didn't have the market capital resources to do that. 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. Frank Slootman added: " I'm excited to advise Blackstone. 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe.