That's the point of it. 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. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Our headquarters is in Atlanta, Georgia. In other words, somebody who has lived their lives over and over. 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 now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. Frank Slootman added: " I'm excited to advise Blackstone. Yeah, yeah. Software was barely an industry. That culture really keeps you safe from being indulgent or just, you're sort of presiding. What took you back to the Netherlands at one point? 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. So, we won a lot of outraces. At some point, we were going to get stunted in our growth. I mean, in the book, Frank, you used the analogy of getting in the right elevator. 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. And Americans always think that there's an easy answer to these questions. Snowflake is Slootmans third IPO. So, this is not data warehousing, it's just one use case. As we're recording this in early 2022, the competition for talent has reached a boiling point. And people really want to be led in that manner. 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. 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. 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. But yeah, aptitude is really about, what are you innately good at? And that's a whole different deal. And that's all coming up right after this. 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. 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 the world of backup and recovery, was dominated, as you said, by tape automation technologies. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. I mean, you can take somebody out of their country, but you can't take the country out of the person, as the old saying goes. 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. 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. And when you buy companies, it gets worse, right? Because, and this is another important observation, I think. You guys are a data company, you know as well, right? 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. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. Obviously all the financial reporting, all the systems. I always become the CEO that the situation mandates and dictates. I can't get you aptitude. 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. I mean, it was doing well. So, one of the things that, that our founders did really, really well and it's a very important lesson here for anybody that's watching Snowflake and trying to understand is that they took a clean sheet of paper. But it's also, you attack and you cross again. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. 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 . 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. Before that, he spent his life in Netherlands, where he was also born. 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. 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. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. After joining almost at the start in 2003, Slootman helped. Slootman said diversity comes second when making . Learn how your comment data is processed. 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. So, we started to wind down a little bit. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." 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. We don't preside, okay? Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. It's just, it's hard not to be acquainted at some level with that culture. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. Bunkers is basically a silo that's incredibly hard to access. I mean, we had like 15X, the X of the next nearest competitor. At the same time, I ended up in conversations with the lead director and investor at Snowflake. That's where we're at right now. 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." An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. Our guest today, Frank Slootman is chairman and CEO of Snowflake. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. Reflects change since 5 pm ET of prior trading day. And it's not just bad behavior, it's also good behavior. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. Nothing to do with financial targets or growth targets or market capitalization. Engineers should have a very easy time discerning the talent, so. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. You arrived at something like tape sucks. 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. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 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. That takes very different approaches, orientation, skill sets, and so on what you do. Not all people are created equal in terms of their roles and their contributions in companies. 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? I look at the situation, "What does this require?" It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. Take our own company, Intercontinental Exchange, for example. But you dont achieve a $1.8 billion net worth by being a spendthrift. But the essence of what I'm getting when I hire you is what you're innately good at. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Well, you think you're just going to turn it off? Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . And that went on literally for years, okay? Correct, correct. Well, that's another thing I don't think about that. 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. Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. And you need to have the flexibility of mind to really deploy yourself. I don't care for any of that. And it's very rare to create that kind of value. So, I ended up going back to, I really didn't want to. 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. So, I really lift that cross and the chasm dynamic. 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. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. And then, I had another internship after that. 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 obviously that is not the best way to go about things because that's just one man's opinion against another, right? 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. No, we're talking about stuff that's not working well. It's just our nature to talk about problems." So, I did. There are many questions left unanswered about the months leading up to Snowflake going public. And it wasn't charged for, so companies just couldn't build software because it was just given away. 5. He's a pretty good golfer. Those are really good conversation, good questions to have because each organization is different. They're kind of like whine and bitch all day. Theres no surprise here. Meaning that we would run something like Tableau on top of Salesforce or whatever. 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. Listen to this episode from This Week in Startups on Spotify. And Brett Favre was that way. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. And we feel the consequences of our actions every minute of the day. 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. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. We had this very high profile bidding war between the EMC and NetApp at that time. Did you always have your eyes set on a career in the US? 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. 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. They also appreciate it. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. Cloud-data warehouse Snowflake has been the talk of the town since it announced its intention of going public. When you run companies, you need to narrow the plane of attack very, very quickly. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? 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. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. Everybody has ideas. 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. But you mentioned this earlier, it isn't really what happened. It became very meaningful to them. Better, better all the time. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. It wasn't long before top VCs weighed in. The eight blocks of the street run from Broadway in the west to the East River in the east. It was very formative. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic.
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