But yeah, aptitude is really about, what are you innately good at? 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? You've said that you were really born in the wrong country. This is a country that's very aspirational. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. I'm the opposite. The. But the essence of what I'm getting when I hire you is what you're innately good at. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. I'm in New York. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Because now you're buying somebody else's culture. 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. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. And I say, "Stop putting labels on yourself. And then, I had another internship after that. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. 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. You ever noticed that NFL quarterbacks just can't leave the stage. And that's a whole different deal. Slootmans style of leadership is not gentle at all. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. The pandemic has. It will be fine. 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. This is very much a country that believes things that other countries don't believe. 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. Everyone's watching. Much like how he runs his companies, Slootman is always direct in his speeches. At some point, we were going to get stunted in our growth. 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 . 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. We're driving change. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. the internship sort of came about because I was about a year ahead of schedule at the university. This is really think about it as a database in the Cloud. Back then, there were hardly any software companies around. 5.9% of any company is a huge deal. This page was last edited on 12 March 2021, at 18:12. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. They all do and for a good reason. And I said, "Why not?" I mean, that's how aligned this is, okay? Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. 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. Slootman applies this philosophy in the workplace as well. Well, building culture is a very forceful thing. And that is a common thread through all our companies. So, we came out there and we said, "Look, no, we're not just going to sell a product here. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 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. That takes very different approaches, orientation, skill sets, and so on what you do. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. Over his distinguished career, Frank has mastered the process of fundraising scaling and building young companies into unicorns with the run ending eventually way back here at the corner of Wall and Broad Streets with an initial public offering. 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. For example, he made a few changes at Snowflake when he became 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. 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. He said, "Because you guys are indicting everything I've done." Frank Lloyd Wright Home and Studio. Now, amid an ongoing legal battle, its got to clean up a very public mess. Given his accolades, Slootman gets invited to speak at many events. We're two sides of a coin, which is a reason why we've shown up in so many companies together. CEO Frank Slootman made $287,990 in salary in 2019. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. I look at the situation, "What does this require?" They're very far removed from the drive train. 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. 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. It's very hard. Our guest today, Frank Slootman is chairman and CEO of Snowflake. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. 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. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. So, I finally caved, okay. Right, you got a good point. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. 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 . 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. Prior to joining Snowflake, Frank served as the CEO of ServiceNow and that's NYSE ticker symbol, NOW and Data Domain, leading both of those firms successfully through their IPOs. When you run companies, you need to narrow the plane of attack very, very quickly. The Dutch have all always been enterprising. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. 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. And it's just, it's intoxicating that energy. The good thing is you dont have to actually sit in with Slootman to get his lessons. 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. Thanks for listening. It could address very few use cases. Now, as the story goes, England followed the Netherlands in control of Manhattan. 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. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. We don't preside, okay? 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. And if I can't predict it, I can't change my policy, I can't change my pricing." Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. But let's focus on another dilemma that brought up in the book, Frank. So, we're going to be in the middle of that. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. I mean, the results speak for themselves. 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. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. 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. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. 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. 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. And by the way, the inverse of that is what are you not good at? The consequences of your action are like right there. It was very formative. 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. 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. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. And it's very much a talent game just like business is. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. I remember having a conversation with the CEO of a very large healthcare company. 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. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. It's really a company production, by the way. So it's a very important question because if I hire you, I can get you experience every day at the week. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. This property is owned by Frank & Brenda Slootman. I'm buying aptitude and then I'm going to develop that with experience, right? By the close of. But . 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? 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." ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. And obviously, I got that in spades at UN Royal in Indiana. He's a pretty good golfer. And I'm like, "You know what? It is hard when you lose your sense of mission, when you lose your desire and your boldness and your aggression in the marketplace and want to go after competition. 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. 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. Mar 11, 2021, 11:30 ET. They always have a twinkle in their eye and they're going to do this, they're going to do that. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. It was just like Formula 1 of sailboat racing. You hit a mark, you have to do two 360s. Data has no opinion. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. 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. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. 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. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Get the world to sort of move onto a different technology platforms, et cetera. How does that work at Snowflake? They're very safe. We're not trying to find fault with people or who did what to whom. After all, he has experience on his side. We tried to, we wanted to get into primary storage. Look, I'm not a certain type of CEO. We just never backed off of it. 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." Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. That's not a healthy dynamic. This is a very buoyant country. And my email just dribbled down to nothing and all this kind of thing." I often refer to those people as passengers and then, they're the drivers. Slootman moved to Silicon Valley in 1997. We cannot just read our emails and have a few phone conversations and know what's going on. What's the silver bullet? Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. I mean, truly retire. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. I mean, it was doing well. The introduction of risk management tools for LNG freight will boost the efficiency of the virtual pipeline of LNG, a new catalyst for the liberalization of LNG and a critical milestone in the globalization of natural gas. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Listen to this episode from This Week in Startups on Spotify. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? 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. I'm just, I'm fighting that tide. 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 the whole point of the book is I try to contrast these experiences, like look, they're not the same. If there were one person you could sit and learn from today, who would it be? So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. And then Snowflake is again, a totally different. That is the X factor in companies, but it starts with weaponizing the mission. This site uses Akismet to reduce spam. One company that embodies this vision is ThoughtSpot, an analytics company. Can you explain how you overcame both to lead the company through its 2012 IPO? Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. Right? What are your God-given talents? 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? Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. But if you're performing at Tom Brady's level, you have no reason to step aside. I'm on the phone with customers every day.