And then being able to talk about it in an intelligent, really rich-considered manner. Nothing to do with financial targets or growth targets or market capitalization. All Rights Reserved. It wasn't long before top VCs weighed in. 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? The list of its authors can be seen in its historical. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Not all people are created equal in terms of their roles and their contributions in companies. And then of course, Michael Dell found just as attractive to bring EMC into Dell. I'm just, I'm fighting that tide. The eight blocks of the street run from Broadway in the west to the East River in the east. Before becoming President and CEO, Mark served as Tableaus Executive Vice President of Product Development, coordinating the, Read More 10 Things You Didnt Know about Mark NelsonContinue. So, we're going to be in the middle of that. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. Never heard of that company." It's really a company production, by the way. 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. So, it just started to happen, but I wanted to desperately be in software at that time. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Slootman moved to Silicon Valley in 1997. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. 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 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. A term that gets used a little bit too much in too many places. 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. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" 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. 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 . Right? Well, the number one bit of advice I would have is make sure you're close to the drive train. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. Because now you're buying somebody else's culture. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. That is how you energize companies. 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. But yeah, then I was off for two years and I did a lot of sailboat racing and I did talk about that in the book as well, because that was a passion and I'd never been able to do that without guilt. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. 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. You really need to, look at yourself as an asset that can be applied in many, many different ways. And Americans always think that there's an easy answer to these questions. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. But the problem with tape was, I mean, tape got lost, tape became unreadable. And it's not just bad behavior, it's also good behavior. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. They sold the living hell out of that product. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. And you need to have the flexibility of mind to really deploy yourself. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Most people just preside over culture. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. He cancelled the luxurious annual employee ski trip to Tahoe. Frank Slootman currently serves as Chairman and CEO at Snowflake. Because, if I can't explain it, then I can't predict it. You can only sail so much, [crosstalk 00:31:19]. Our headquarters is in Atlanta, Georgia. Much like how he runs his companies, Slootman is always direct in his speeches. There are many questions left unanswered about the months leading up to Snowflake going public. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Presiding is the worst word. Right? You come with aptitude. And there were many, many players in that segment, by the way. Everybody has access to talent. The. And Mike was still the CEO at ServiceNow at that time. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. Quick digression. There's new business models. They want to know what bad behavior is. 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. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. So after a while, it's like, "Okay, we've done enough of this." And people really want to be led in that manner. Frank, how did those early experiences rising through the ranks and being sent from problem to problem help you establish the principles for success that your career would see? That takes very different approaches, orientation, skill sets, and so on what you do. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. And then I change myself to become that flavor of CEO. 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. We had this very high profile bidding war between the EMC and NetApp at that time. At 61 years old, Slootman has created quite the reputation for himself. Give me that train wreck. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. Tell me about sailing, first of all. 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. We just never backed off of it. The good thing is you dont have to actually sit in with Slootman to get his lessons. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. 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. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. In other words, as a leadership team, it's not just the CEO. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. And, how do you design single best data operations platform you possibly can?". I actually wanted to retire, truth be told. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. Some may describe him as direct. So now, we're having business conversations about data. What's the playbook?" Once you start doing that, you need to take yourself out of the game. We had no experience. Did you find it difficult to change Snowflake's established culture? Did you always have your eyes set on a career in the US? This article "Frank Slootman" is from Wikipedia. Okay. Data Domain was really an interesting company. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. I mean, it was doing well. The Dutch have all always been enterprising. But the essence of what I'm getting when I hire you is what you're innately good at. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. And eventually, we totally crushed that market because we could address any and all use cases that were out there. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. It wasn't, and the company wasn't failing financially on its growth objectives. 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 . You need to be invested in the moment, in the present, rather than I'm thinking about my next move. 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." 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. Frank Lloyd Wright Home and Studio. They're kind of like-. He said, "Because you guys are indicting everything I've done." 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? And the other thing I'll say is we maintain a very, what we call a malcontent attitude. And when you let it happen, you get feed-ups. Slootman has become somewhat of a business hero for many people, myself included. 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. So, we were just picking over use cases here and there to sort of stay alive in the early days. By the close of. 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. What you're doing now is doing pretty good, so keep yourself in the game, Frank. And my email just dribbled down to nothing and all this kind of thing." And Mike, he takes on the end entire spectrum of controls and administration. And Brett Favre was that way. It's very hard. Leone took Luddy on a host of interviews. This property is owned by Frank & Brenda Slootman. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. Scale is definitely a problem because you get layers and layers and you got the problem of having tons of passengers on the boat, all these types of issues. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. You're finding the best sailors in the world and all of that. This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. 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? What goes around, comes around and the Dutch get around the world. You have to have data to partial reality, right? And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. Everything in our world starts with technology, starts with architecture, okay? They just have such a hard time doing it because that's who they are, that's what they live for. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. No, we're talking about stuff that's not working well. It's lights out, light speed and then fully disintermediated and it's fully programmatic. What's the silver bullet? 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. Early days of ServiceNow was just jungle fighting. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? It was super interesting to me, sort of my first encounter with American management. 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. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. That's when you're at risk. You want to be that person, okay? What kind of people fail here and why?" 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. And when you buy companies, it gets worse, right? And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. Right? Why did you give up the helm of the invisible hand for this new role with Snowflake? But yeah, aptitude is really about, what are you innately good at? 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. 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). Correct, correct. And if I can't predict it, I can't change my policy, I can't change my pricing." Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . I was just shot. The book accounts his time in Data Domain and so much more. You relate well to that way of thinking. So, I ended up in odd places because they didn't know what to do with me. In the book, I go on and on about what some of those issues are. Frank Slootman - Narrow the Focus, Increase the Quality - [In Engineers should have a very easy time discerning the talent, so. I mean, 16 months after you and Mike came to Snowflake, you raised $3.4 billion as part of its IPO, instantly establishing Snowflake as one of the NYC's marquee companies. They're kind of like whine and bitch all day. That's really what you want to preserve rather than layers and layers and layers and channels of communication. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. What are your God-given talents? 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 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.. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. The consequences of your action are like right there. 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." Right. But one of those issues was that taken over from a founder CEO was really, really hard. I'm on the phone with customers every day. 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. 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 just markets, but culture is how you get up in the morning and how you prosecute your day, so it is a huge deal. He's like, "How do we run a supply chain?" Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. We actually won everything that we wanted to win. You could have a meeting in the hallway with the entire company. And that's exactly what we did. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. That's a running joke that we always have. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. It's a small country, obviously, which is why they sort of veer far and wide. Right? 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 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. 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. 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. And opinions, everybody's got one, but data doesn't lie. No databases of scale and no file systems with scale. [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]. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. This is really think about it as a database in the Cloud. And I said, "Why not?" The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. Reflects change since 5 pm ET of prior trading day. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. JP Morgan paid $175 million for a startup it believes it was conned into buying. I'm curious, how that opportunity at Data Domain came to you? I mean, anecdotal observation has pretty much run its course. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. They did not try to carry technology or ways of thinking forward. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. I just took a job with a software company just to be in software and that's sort of the extent of my thinking on that. 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. What attracted you to the space? And by the way, the inverse of that is what are you not good at? I'm Josh King, your host, signing off from the library of the New York Stock Exchange. And that's the American flavor and flare that has built up over three, almost four decades. I can't get you aptitude. The interesting thing about data domain was it was very, very slow going. 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. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. Yeah, there's no doubt. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Investors know this about us. They knew exactly what we meant. Take our own company, Intercontinental Exchange, for example. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. At the same time, we've never had a data Cloud in the history of computing because data was just fragmented and proliferated into silos and what we call bunkers. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Never seen the inside of an office or anything. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. By the close of. 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. In the Dutchman Frank Slootman, a non-coddling, no-nonsense executive who had taken Data Domain public before selling it to EMC, Leone saw "a match made . And for example, when I joined Unysis, I ended up in a corporate planning role. And that went on literally for years, okay? It could address very few use cases. 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. And the term BI had not even been invented back then. And he and I have very short conversations because by the time we start asking the question, we already know what the answer is type of thing. 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. When you run companies, you need to narrow the plane of attack very, very quickly. We don't preside, okay? CEO Frank Slootman made $287,990 in salary in 2019. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. People that the company really, really runs on. This is a very buoyant country. A compensation package he received upon joining Snowflake in April 2019 awards him a. If there were one person you could sit and learn from today, who would it be? Who can solve what set of issues, right? 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. But let's focus on another dilemma that brought up in the book, Frank. But 233 years later, American, Dutch and British interests are inexorably intertwined. 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. In other words, they kind of let it happen. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. Not all CEOs have this, but a lot of CEOs do. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. And that's a whole different deal. 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. 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. 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 having incredible meaning and potency and yield value for applications you never imagined. You cannot sell your way through a crappy product, okay? Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company.