In other words, swarm to it instead of distance yourself from it. I mean, they had graphical user interfaces that were completely proprietary to that company. 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. The consequences of your action are like right there. The former Frank CEO said JP Morgan had full knowledge of Franks customer data before the acquisitionand Chairman Jamie Dimon personally pushed for it to happen. [1] Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Sometimes that is hard for American audiences. 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." I mean, people go from spending $50,000 a year to a million dollars a year in one year and they're like, and the CFOs go, "What the hell is this all about?" While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. We're not trying to find fault with people or who did what to whom. Mike is a really good example of that because what he's really good at, I'm not, and I always use the, the analogy of he plays defense, I play offense. 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. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. 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. But in the end, it's like we have to get into backup software in which we tried. They all do and for a good reason. So, they looked around and they found the guy with a passport to Dutch language proficiency like. We had this very high profile bidding war between the EMC and NetApp at that time. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. I always become the CEO that the situation mandates and dictates. And the reason that I found it so interesting is technology was mesmerizing. Snowflake now has Frank Slootman as chairman and CEO. And rightfully so, by the way, because they have created something, right?. Including his options, Slootman owns about 10% of Snowflake. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. They're very lonely in their jobs. What are your God-given talents? When I was at Data Domain, hell, we were 15 people when I joined there. 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. I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. We tried to, we wanted to get into primary storage. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. 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. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. Right? And my email just dribbled down to nothing and all this kind of thing." Slootman said diversity comes second when making . Look, I'm not a certain type of CEO. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. 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. Everybody has access to talent. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? But let's focus on another dilemma that brought up in the book, Frank. Our headquarters is in Atlanta, Georgia. Some may describe him as direct. I hate that. Frank Slootman Is No Snowflake | Sequoia Capital US/Europe That's the point of it. What attracted you to the space? Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. The IPO was the third for Dutch-born Slootman, who moved to California for a job at Compuware in the dotcom boom, then worked at Borland Software. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. Well, that's another thing I don't think about that. If there were one person you could sit and learn from today, who would it be? 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. And a lot of our people have the same malcontent attitude that I do. 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. The interesting thing about data domain was it was very, very slow going. 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. 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. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. And he and I were serving on another board together and every time we we'd go to our quarterly board meetings, we'd have lunch and discuss the state of a affairs in the world and blah, blah, blah, sort of thing people do in Silicon Valley. The IPO was the third for Dutch-born Slootman,. No, we're talking about stuff that's not working well. Windows 3.1 didn't even exist. They're very far removed from the drive train. But you dont achieve a $1.8 billion net worth by being a spendthrift. 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. Snowflake Appoints Frank Slootman as Chairman and CEO So, we won a lot of outraces. There's new business models. They're kind of like whine and bitch all day. So like, "Look, I'm not going to be doing the same races over and over again." In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8 billion. In other words, as a leadership team, it's not just the CEO. Right? He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. 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. You speak the language, like we do, but there is something different about you." Everybody has ideas. [23] Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. But that is what digital transformation is. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" Learned an awful lot in that period of time. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. So in hindsight, I understood that I was just burned out, classic burned out. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. 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. It has certainly worked well for himself, for the companies hes worked under, the many investors that have poured money in his name, and so forth. Why did you give up the helm of the invisible hand for this new role with Snowflake? 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. 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. 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. But eventually, I returned to Holland about a year later, resumed my education. It is data operations from the most transactional to the most analytical and everything in between, so. And it wasn't charged for, so companies just couldn't build software because it was just given away. And did you have a sense that the sector was really about to explode? It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. And I say, "Stop putting labels on yourself. What you're doing now is doing pretty good, so keep yourself in the game, Frank. So, we were just picking over use cases here and there to sort of stay alive in the early days. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. And Brett Favre was that way. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. 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.. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? We're always picking at things that could be better. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. By the way, our two largest competitors were both bidding for the company at the same time. That's a running joke that we always have. The list of its authors can be seen in its historical. Obviously all the financial reporting, all the systems. 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. 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. They're very well dialed into it. Never seen the inside of an office or anything. 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. He cuts back where he sees fit. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. Slootmans style of leadership is not gentle at all. I only think about now and what I'm doing today. 5.9% of any company is a huge deal. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. 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. You could eject the tape from a tape drive and you could ship it off site. The biggest guess is that Frank Slootman simply had the track record for having previously taken data storage companies successfully out of trouble and into the future. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. And you had literally physical media that could logistically manage. How Snowflake CEO Frank Slootman became a billionaire by ripping up the The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). So, the earlier you show up, the better off you are. And it was one, and we were better known as the tape sucks company than we were by our own company name at one point. It's not that easy. From Broke To Billionaire: How Fred Luddy Built - Forbes We were entertainment for Wall Street for a six-week period. Don't typecast yourself." BUILDINGS. This is very much a country that believes things that other countries don't believe. In other words, you got to really mean it, okay? So, we came up with this war cry that said, "Tape sucks, move on." Its a positive outlook for Snowflake, and its a bright signal for investors to really pay attention to this company now before its too late. 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. 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. If you like what you heard, please rate us on iTunes, so other folks know where to find us. It was small, it was slow. 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. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? And then of course, Michael Dell found just as attractive to bring EMC into Dell. He knows what problems exist in his field today, and he knows how to address them as well. And there were many, many players in that segment, by the way. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. 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." He cancelled the luxurious annual employee ski trip to Tahoe. And obviously, I got that in spades at UN Royal in Indiana. Slootman has become somewhat of a business hero for many people, myself included. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. I'm curious, how that opportunity at Data Domain came to you? And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. Snowflake, the cloud-based data-warehousing company, has been on fire in 2020, with veteran tech CEO Frank Slootman at the center of its success. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. 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. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". And that's our conversation for this week. Learn how your comment data is processed. And it worked like that for about a hundred years. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. Snowflake: Not What You May Think It Is - Datanami A term that gets used a little bit too much in too many places. 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. When a company is buying a million dollars from you in the course of a year, what are they getting? And Americans always think that there's an easy answer to these questions. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. 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. Americans are, it doesn't matter what profession they're in, they always believe they can do better. But one of those issues was that taken over from a founder CEO was really, really hard. So, we're going to be in the middle of that. This property is owned by Frank & Brenda Slootman. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. We just never backed off of it. I mean, all these greats, right? People naturally become very unfocused, very, very easily. See what you can do with it" to data driving operations directly, right? We now use consumption models instead of subscription models. I'm the opposite. Nothing to do with financial targets or growth targets or market capitalization. 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. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. It was doubling. And essentially, he defends. Well, building culture is a very forceful thing. The Frank Lloyd Wright Suite at This Tokyo Hotel Is a Midcentury Modern By the close of. So, I ended up in odd places because they didn't know what to do with me. You arrived at something like tape sucks. He's like, "How do we run a supply chain?" to keep connected with us, please login with your personal info. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. 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? After all, he has experience on his side. As I said, what comes around, goes around. And by the way, data platforms have been extremely fragmented historically. And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. What goes around, comes around and the Dutch get around the world. 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 everybody was like, "Who's Data Domain? I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. 10 Things You Didn't Know About Frank Slootman - Money Inc
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