Frank has over 25 years of experience as an entrepreneur and executive in the ent I mean, that's how aligned this is, okay? And my email just dribbled down to nothing and all this kind of thing." To see all content on The Sun, please use the Site Map. 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. We played a round of golf. It will be fine. 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. That is how you energize companies. $2.1B. I mean, truly retire. 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. So, after six years of success, by any metric, by playing the king on that ServiceNow chess board, why was it time to step down? 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. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. 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. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. But then, you go like, "Oh, this is the rest of my life." And Frank, while you were getting your degree from the Netherland School of Economics, you came to the US for an internship with UN Royal and returned after graduating to get a job at Burroughs, which is now Unysis and ticker symbol, UIS. 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. And it worked like that for about a hundred years. 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. Slootman, 61, is a professional CEO. Can you explain how you overcame both to lead the company through its 2012 IPO? And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. Because now you're buying somebody else's culture. Right? It's up to 79% of the volume has gone cleared. They did not try to carry technology or ways of thinking forward. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." Frank Slootman Chairman & CEO. And having incredible meaning and potency and yield value for applications you never imagined. I mean, we lived in absolute terror. You can't help but run into Dutch people everywhere because they have such a small country. This is a very buoyant country. As I said, what comes around, goes around. For other inquiries, Contact Us. You have served, as I intimated in the introduction, as the CEO of companies in Silicon Valley and now, Montana, but your story really begins 5,500 miles away from the West Coast. Now, I might be a big piece on the chessboard as the CEO of the company, but that's really how you want to think about it. 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. Back then, there were hardly any software companies around. 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. Amp It Up tells that story and how it can be recreated in other organizations. I always become the CEO that the situation mandates and dictates. Everyone's watching. Everybody has ideas. This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. By the way, our two largest competitors were both bidding for the company at the same time. Top 5%. No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. The tech firm, founded in 2012, helps businesses manage and analyze data stored on its cloud. He's like, "How do we run a supply chain?" Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. And a lot of our people have the same malcontent attitude that I do. And that's a whole different deal. Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. Slootman has also contributed money to political campaigns for both Gov. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. And Mike was still the CEO at ServiceNow at that time. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? 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. That is the most, that is so unproductive. 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. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. And you had literally physical media that could logistically manage. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Snowflake, a data analytics and warehouse firm, which Forbes valued at about $60 billion, said in an an earnings report released Wednesday that its executive offices have moved from California to Bozeman. I speak with a fat accent and like, "What are we going to do with you, pal?" Give me that train wreck. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. So, I did. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." We're always picking at things that could be better. They always have a twinkle in their eye and they're going to do this, they're going to do that. 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. Here's your host, Josh King of Intercontinental Exchange. Because that's what it is. In a few weeks, when the 2022 winter Olympics get underway in Beijing, I'll have my eyes peeled for 22-year-old, Jutta Leerdam, the reigning world speeds skating champion with over 800,000 followers on Instagram, who's proven herself a trend setter on and off the ice. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. That's not a healthy dynamic. And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. Snowflake's headquarters is in Bozeman, Montana, and was founded in 2012. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. It's been extremely successful since we took over. Where I come from, people are quite resigned to their fate. As young as I was, I mean, I was determined that that's where I wanted to be and certainly, not hardware because I saw another way for commoditization happening over there. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. Software was barely an industry. Frank Slootman's ownership of Snowflake As the CEO of the publicly-traded company, Slootman owns 5.3 million shares of Snowflake . 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 obviously that is not the best way to go about things because that's just one man's opinion against another, right? 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. They're very safe. Right? By providing your email address below, you are providing consent to Snowflake to send you the requested Investor Email Alert updates. 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. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. It's just, it's hard not to be acquainted at some level with that culture. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Exponential growth is a critical goal for todays emerging ventures. Well, that's because historically all we did was we did analytics in silo. We don't preside, okay? Buyers and sellers can come together. What was that? They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. 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). 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. At Data Domain, he built an intensity around clear business priorities and the customer value proposition and drove it through the organization daily. 700. So, they looked around and they found the guy with a passport to Dutch language proficiency like. They're very lonely in their jobs. Frank has over 25 years of experience as an entrepreneur and executive in And the whole point of the book is I try to contrast these experiences, like look, they're not the same. 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. Snowflake is the third company Frank has taken public, and the lessons that shaped his career are part of his new book Amp It Up: Leading for Hypergrowth by Raising And I had already made a little bit of a name for myself in the company. 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. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. 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 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? 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? But eventually, I returned to Holland about a year later, resumed my education. No, I didn't. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. 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. If you like what you heard, please rate us on iTunes, so other folks know where to find us. So, we were just picking over use cases here and there to sort of stay alive in the early days. If it's not related to our core mission, we don't want to hear about it. There's new business models. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. If you value these stories, please consider subscribing. 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? Americans are, it doesn't matter what profession they're in, they always believe they can do better. 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. You could eject the tape from a tape drive and you could ship it off site. And that is our culture. Slootman has spent a lot of time and money in Montana in recent years. Those are really good conversation, good questions to have because each organization is different. I mean, that's how I felt at that time, like I had no more to give. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. I don't have to go work on Monday. What attracted you to the space? But yeah, aptitude is really about, what are you innately good at? "Over the last 20 years I have been fortunate to watch Frank Slootman build a Hall Of Fame career. It allows corporate users to store and analyze data using cloud-based hardware and software. Investors know this about us. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" Well, building culture is a very forceful thing. I always tell my own people, "Look, I'm a piece on the chessboard, okay? While that is probably not, my temperament is not terribly well-suited for those types of jobs. All of which is presented solely for informational and educational purposes. Neither ICE nor its 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, all of which is presented solely for informational and educational purposes. Things will change in ways you cannot even imagine the ideas that happen. And I talk about that in the book, because again, there's observations, maybe even lessons that can be extracted from what happens when you're in a crowded field and you're trying to separate yourself from the pack. In other words, they kind of let it happen. I mean, the results speak for themselves. 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. Frank's new book, Amp It Up: Leading For Hyper Growth By Raising Expectations, Increasing Urgency and Elevating Intensity, still is the leadership principles he's developed over his long career. One of the worst, worst in the English language for me. In any successful company just ask them, they will attribute success to their culture. I don't think about what's next. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. And you can take it or leave it and try it on for size and see if you like it." All of us, no exceptions." I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. None of that stuff is material to your mission. I can't get you aptitude. It doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. Like Databricks, Snowflake also works within the Analytics sector. People that the company really, really runs on. I mean, it's a hell of a cash burner as well. It's like it's full of feedback. $5.4B. 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. [emailprotected]. What you're doing now is doing pretty good, so keep yourself in the game, Frank. You have permission to edit this article. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? When you get that sensation, you do need to leave because you're no longer the right person for that situation. Not exactly like a year and a half, he'd been there for seven years. 61/100. Slootman has also contributed money to political campaigns for both Gov. So, we came out there and we said, "Look, no, we're not just going to sell a product here. I actually wanted to retire, truth be told. WebSlootman has spent a lot of time and money in Montana in the years. 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. Choose wisely! You could have a meeting in the hallway with the entire company. Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. WebFrank Slootman Chairman of the Board and Chief Executive Officer Contact 2 Contact 3 Contact 4 See All Contacts Dynamic search and list-building capabilities Real-time So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. It's really every leader in the organization needs to internalize and then, want to act on it. And everybody was like, "Who's Data Domain? The couple live in the Ruby Hill gated community in Pleasanton, a serene San Francisco Bay Area suburb where the typical home is worth $1.2 million. It's about 40 miles from Snowflake's San Mateo headquarters and a 3.5-hour drive from Lake Tahoe, where the Slootmans have owned a home. The Slootmans also have a ranch in southwestern Montana. I mean, for example, I remember when we first, got involved with Geico and Todd Combs, the CEO, said, "Look, I don't need any more lectures from you guys on architectural prowess and all this sort of thing." Slootman focuses on the keys to mission-driven leadership discipline, proven to drive exponential growth and hundreds of billions of dollars in market value. There's no doubt, I'm a total hybrid here. Every week there was a new bid. When we first came in there, it was a very, very anxiety-ridden ride in the early days. By the way, everything he did had to be insanely great because he just couldn't get out of bed if it wasn't insanely great. Snowflake Inc. CEO Frank Slootman apologized in a blog posted on Monday about comments he made to Bloomberg TV last week in which he said diversity should You have to have data to partial reality, right? WebSnowflake is a Montana-based cloud computing platform that deals with the design and development of data warehouse and analysis solutions for customers. Well, the number one bit of advice I would have is make sure you're close to the drive train. No. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". I'm in New York. Okay? Not all CEOs have this, but a lot of CEOs do. Get the world to sort of move onto a different technology platforms, et cetera. You just get into this cycle where all you want to do is leave. Welcome, Frank, inside the Ice House. Pat Gelsinger, CEO, Intel, Frank Slootman brings his practical experience of delivering success into plain sight for all of us to learn and be inspired by. And essentially, he defends. Why did you give up the helm of the invisible hand for this new role with Snowflake? 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, it's the story, what goes around, comes around, as I said at the beginning. And that's all coming up right after this. But he had also been the CEO of ServiceNow for seven years. While CEO of ServiceNow before joining Snowflake, Slootman contributed the maximum sum allowed It's lights out, light speed and then fully disintermediated and it's fully programmatic. So, we won a lot of outraces. You want to be that person, okay? Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. We now use consumption models instead of subscription models. Read it now on the OReilly learning platform with a 10-day free trial. Find related and similar companies as well as employees by title and much more. I mean, it was doing well. View Profile View. It was great and it lasted the entire duration. It's not that easy. They all do and for a good reason. Thanks so much for joining us inside the Ice House. What took you back to the Netherlands at one point? https://www.businesswire.com/news/home/20220119005295/en/, Danica Stanczak People were looking at my credentials. 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. That's the reason why this country does so well. I'm curious, how that opportunity at Data Domain came to you? 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. Chief Executive Officer & Chairman. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. And you can't play chess pieces in a million different ways, right? Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. You guys are a data company, you know as well, right? It's really a company production, by the way. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. And the reason that I found it so interesting is technology was mesmerizing. WebSpolenost Snowflake pila na veejn trh v z 2020, co se nyn zd bt u dvno. 89/100. 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. Now, as the story goes, England followed the Netherlands in control of Manhattan. They knew exactly what we meant. But we didn't have the market capital resources to do that. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. 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? In other words, somebody who has lived their lives over and over. Frans van Houten, CEO, Royal Philips. He's a pretty good golfer. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." And while such growth can feel elusive, game-changing transformation is within our grasp -- with the right leadership mindset. So after a while, it's like, "Okay, we've done enough of this." At the same time, I ended up in conversations with the lead director and investor at Snowflake. So, because we all have our that's sell of awareness. It allows corporate users to store and analyze data using cloud-based hardware and software. That's when you're at risk. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. You hit a mark, you have to do two 360s. View the full release here: https://www.businesswire.com/news/home/20220119005295/en/, AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, by Frank Slootman, chairman and CEO of Data Cloud company Snowflake. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. 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. 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. Well, they knew now. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. Large cloud share company moves executive offices to Bozeman. And, how do you design single best data operations platform you possibly can?". Your purchase was successful, and you are now logged in. And when you're burned out, you don't regenerate anymore. Greg Gianforte and former congressman and U.S. And I say, "Stop putting labels on yourself. Good sales people have a track record. 3,990. Don't typecast yourself." It was just like Formula 1 of sailboat racing. 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. 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. Look, I'm not a certain type of CEO. Snowflake, Customer And it's like, "Well, why does that matter?" Correct, correct. So, this is not data warehousing, it's just one use case. And we were babes in the wood back then. Bill McDermott, President and CEO, ServiceNow, What makes Frank the best technology CEO on the planet: he sets and then beats unreasonably high expectations; he is a high-integrity people leader; he makes the strategy clear to all; and he is a fearless leader willing to do whatever it takes to win. among us texto copiar y pegar Snowflake is a cloud computing-based date warehousing company. 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. It's not just a scale. WebFrank Slootman Chairman & CEO. 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. jsx employee benefits, spongebob spongehenge theory,
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