frank slootman house

Our guest was Frank Slootman, the Chairman and CEO of Snowflake. I mean, I was just in my way of life and I was going to stay there till the end of time. The interesting thing about data domain was it was very, very slow going. And that's exactly what we did. It takes nothing. 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. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Okay. They just have such a hard time doing it because that's who they are, that's what they live for. to keep connected with us, please login with your personal info. But let's focus on another dilemma that brought up in the book, Frank. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. As I said, what comes around, goes around. Others might say that hes completely brash. And it's very much a talent game just like business is. We will talk to you next week. Slootman said diversity comes second when making . 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. But in the end, it's like we have to get into backup software in which we tried. I'm like, "We're not trying to indict what you've done. One of the worst, worst in the English language for me. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. They want to know what bad behavior is. Yeah, there's no doubt. What's the playbook?" And by the way, when you see the decline of very, very storage enterprises, you can pick MG and HP and and Intel and so on, what happened to these people along the way? Right, you got a good point. At 61 years old, Slootman has created quite the reputation for himself. And there were many, many players in that segment, by the way. Now, for us, it's a data Cloud. Get the world to sort of move onto a different technology platforms, et cetera. And essentially, he defends. 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. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Now, as the story goes, England followed the Netherlands in control of Manhattan. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. 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. I can't get you aptitude. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. And by the way, the inverse of that is what are you not good at? He's a Dutchman Slootman moved to Silicon Valley in 1997. I really had to be shamed into writing this book, considering the amount of work that it is, but got a lot of help from the company. It's been extremely successful since we took over. Wikitia is not affiliated to Wikimedia Foundation. And Mike, he takes on the end entire spectrum of controls and administration. Snowflake is Slootmans third IPO. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. So as leaders, you very much, I try, no matter how big this company gets, I try to run it like a popsicle stand where we're driving a race boat around the race course, okay. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. 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. Some may describe him as direct. 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. They did not try to carry technology or ways of thinking forward. If you want to know more about this CEO, this might be the book to read. 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. At some point, we were going to get stunted in our growth. What you're doing now is doing pretty good, so keep yourself in the game, Frank. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. 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." 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? And then being able to talk about it in an intelligent, really rich-considered manner. And obviously, I got that in spades at UN Royal in Indiana. Right? I actually wanted to retire, truth be told. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. 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. It was great and it lasted the entire duration. And the EMC came in and within a quarter, it was up to a $100 million because they had channels and customers and everything primed and ready, right? Give me that train wreck. In other words, as a leadership team, it's not just the CEO. Tell me about sailing, first of all. We're always picking at things that could be better. The consequences of your action are like right there. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. 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. 2023 Forbes Media LLC. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. You really need to, look at yourself as an asset that can be applied in many, many different ways. Well, you think you're just going to turn it off? Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. I mean, there's many jobs in companies and some of them are quite far removed. Because, and this is another important observation, I think. 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. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. Reflects change since 5 pm ET of prior trading day. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief Executive Officer of . Everything in our world starts with technology, starts with architecture, okay? 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. 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." You need to sort your issues into, "What am I going to focus on?" I mean, in the book, Frank, you used the analogy of getting in the right elevator. 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 CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. Whatever he learned from school is probably what we should all learn. And like, "How fast does this guy type?" By the close of. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? 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. Did you find it difficult to change Snowflake's established culture? Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." It could address very few use cases. In any successful company just ask them, they will attribute success to their culture. We had no experience. No, I didn't. So, I got pestered by VCs over the years, like "When are you going to do an update to your book because you now have two more companies to talk about." Once you start doing that, you need to take yourself out of the game. We were going to do the world of favor.". Learned an awful lot in that period of time. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. 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. 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 Expectations, Increasing Urgency, and Elevating Intensity. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. Right? But . And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. welcome back! Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954. And that is our culture. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. They were all special purpose for this thing and that thing and that has really created a lot of problems for data center operations, because they just had a Frankenstein architecture out there and people are sick of that. All of us, no exceptions." 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? 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. And that's all coming up right after this. Take our own company, Intercontinental Exchange, for example. 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. Instead, hes got something equally as coola sailing boat named The Invisible Hand. 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 hard to get off of that. And eventually, we totally crushed that market because we could address any and all use cases that were out there. And the product was insanely fast, completely automated. Better, better all the time. If you like what you heard, please rate us on iTunes, so other folks know where to find us. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. 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 in other words, I was already negotiating Mike's package before I had joined ServiceNow. It becomes the beating heart of a modern enterprise. And people really want to be led in that manner. And if I can't predict it, I can't change my policy, I can't change my pricing." And by the way, data platforms have been extremely fragmented historically. Slootman said he understands people might be eager to more freely leave their homes once long-standing public health restrictions are eased, potentially wanting to return to pre-pandemic routines . I'm in New York. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." That's the reason why this country does so well. It's a transformation that is still going on. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Growth opportunities abound, but what many owners of startups may not realize is that choosing a bank with sector expertise to complement your business needs is more important than ever. 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. But he had also been the CEO of ServiceNow for seven years. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. 5. 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. That is how you energize companies. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. You just get into this cycle where all you want to do is leave. 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." right? You want to be that person, okay? And my email just dribbled down to nothing and all this kind of thing." And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. I don't care for any of that. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? So, this is not data warehousing, it's just one use case. 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. It's you're in this job for a reason. You've said that you were really born in the wrong country. Yeah, that goes back about mission posture. I can just blow a year on doing some other stuff that's interesting." ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. Not all people are created equal in terms of their roles and their contributions in companies. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. I mean, it gets rid of you. They want to know what good behavior is. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. I mean, they had graphical user interfaces that were completely proprietary to that company. Now, most organizations are incredibly in up still in terms of their data promise. So, it just started to happen, but I wanted to desperately be in software at that time. So, we started to wind down a little bit. And you had literally physical media that could logistically manage. 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. I need to know what that is. One of the reasons I made it a very transparent discussion is that most people think that when you have these highly successful company, it just happens like poof, beautifully. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. 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. Frank Lloyd Wright Home and Studio. It is a future state that we're all working on right now. And we feel the consequences of our actions every minute of the day. I mean, without the foresight of having read Amp It Up, our listeners might assume that a jump from into software would take you really the rest of the way in your career from your start in Europe, to Indiana, the Midwest, all the way to California. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. 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. Obviously, that industry had moved on to all kinds of different disk space technologies. 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? He cuts back where he sees fit. It's very hard. Snowflake chairman and CEO Frank Slootman on leadership and the war against mediocrity February 23, 2022 "Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission," says Frank Slootman , chairman and CEO of Snowflake, one of . The founder brings you in to scale up the company, but finds it difficult to step aside. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. You guys are a data company, you know as well, right? I mean, what drove you to move on? Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. But one of those issues was that taken over from a founder CEO was really, really hard. And then, I had another internship after that. What's the silver bullet? And by the way, data is going to, some people have referred to it as a new currency to new oil, whatever you want to call it, but. So, we're going to be in the middle of that. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." You cannot sell your way through a crappy product, okay? It's like, "That's not exciting." No databases of scale and no file systems with scale. 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. There's no doubt, I'm a total hybrid here. And, how do you design single best data operations platform you possibly can?". Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. The IPO was the third for Dutch-born Slootman,. 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. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. This is really think about it as a database in the Cloud. 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. And it's just, it's intoxicating that energy. So, because we all have our that's sell of awareness. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. And I had already made a little bit of a name for myself in the company. Correct, correct. He cancelled the luxurious annual employee ski trip to Tahoe. 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. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. When a company is buying a million dollars from you in the course of a year, what are they getting? 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 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. 5.9% of any company is a huge deal. We're driving change. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts.

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