Instead, hes got something equally as coola sailing boat named The Invisible Hand. 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. And obviously, I got that in spades at UN Royal in Indiana. 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. While that is probably not, my temperament is not terribly well-suited for those types of jobs. 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? What's the playbook?" In other words, as a leadership team, it's not just the CEO. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. But that is what digital transformation is. But we didn't have the market capital resources to do that. We're driving change. 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 . You just get into this cycle where all you want to do is leave. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Software was barely an industry. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". 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. 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. It's not that easy. Theres no surprise here. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. In short, money talks, and Slootmans got it in his hands and in his mouth. What took you back to the Netherlands at one point? Welcome back. It's very hard. So, we started to wind down a little bit. 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. Because they can't understand how spending categories can just explode overnight like that. It takes nothing. Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster initial public offering (IPO). Right? Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. And that's our conversation for this week. You need to sort your issues into, "What am I going to focus on?" They all do and for a good reason. If it's not related to our core mission, we don't want to hear about it. Right? Not all CEOs have this, but a lot of CEOs do. Bunkers is basically a silo that's incredibly hard to access. And now, welcome inside the ICE House. JP Morgan paid $175 million for a startup it believes it was conned into buying. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. 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. Well, you think you're just going to turn it off? Photo by Christie Hemm Klok/The Forbes Collection. welcome back! 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. What was that? If you want to know more about this CEO, this might be the book to read. That culture really keeps you safe from being indulgent or just, you're sort of presiding. Given his accolades, Slootman gets invited to speak at many events. It was very formative. 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. That's not a healthy dynamic. And it's very much a talent game just like business is. 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. Check out the subtleties of his Wikipedia below. So like, "Look, I'm not going to be doing the same races over and over again." Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. I only think about now and what I'm doing today. 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. Those are really good conversation, good questions to have because each organization is different. I just have been in the line of fire too long. You have to have data to partial reality, right? Now, as the story goes, England followed the Netherlands in control of Manhattan. 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. But if you're performing at Tom Brady's level, you have no reason to step aside. Now, amid an ongoing legal battle, its got to clean up a very public mess. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. The interesting thing about data domain was it was very, very slow going. What attracted you to the space? He cuts back where he sees fit. I don't care for any of that. This site uses Akismet to reduce spam. It's been extremely successful since we took over. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. But he had also been the CEO of ServiceNow for seven years. There's new business models. And Mike, he takes on the end entire spectrum of controls and administration. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. And there were many, many players in that segment, by the way. 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. For example, he made a few changes at Snowflake when he became CEO. It's a small country, obviously, which is why they sort of veer far and wide. 2023 Forbes Media LLC. People naturally become very unfocused, very, very easily. 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. I look at the situation, "What does this require?" And my email just dribbled down to nothing and all this kind of thing." And a lot of our people have the same malcontent attitude that I do. And eventually, we totally crushed that market because we could address any and all use cases that were out there. 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. Well, that's because historically all we did was we did analytics in silo. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. None of that stuff is material to your mission. But it's not what it really is, so it wasn't an enormous surprise to me to come here. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. It's really every leader in the organization needs to internalize and then, want to act on it. Right? 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. And then of course, Michael Dell found just as attractive to bring EMC into Dell. All of which is presented solely for informational and educational purposes. I mean, it was just trying to stay alive. You're finding the best sailors in the world and all of that. They just have such a hard time doing it because that's who they are, that's what they live for. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. But they do because the world is changing to digital and this is the essence of digital transformation. I was like, "Jesus, I spent my whole life trying to get here. It was super interesting to me, sort of my first encounter with American management. I'm just, I'm fighting that tide. It becomes the beating heart of a modern enterprise. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Open main menu Close main menu Home About Us Contact Us States Advanced Search We're always picking at things that could be better. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. So after a while, it's like, "Okay, we've done enough of this." Windows 3.1 didn't even exist. Yeah, yeah. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Thanks for listening. The question is, what are you going to do? The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . 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." We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. But 233 years later, American, Dutch and British interests are inexorably intertwined. And our conversation with Frank Slootman on how he amped up his career scaled three companies and the lessons he wants to now share with the world is coming up right after this. 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. This page was last edited on 12 March 2021, at 18:12. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Basically, we had to solve our enormous problems that we have while the company was doubling in size, more than doubling its size every year. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. 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. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. But EMC prevailed. And, how do you design single best data operations platform you possibly can?". This is a country that's very aspirational. That's awesome. 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. Investors know this about us. 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. And essentially, he defends. Right, you got a good point. All of us, no exceptions." Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. All these things eventually came together. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . 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. I hate that. We played a round of golf. 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. I mean, in the book, Frank, you used the analogy of getting in the right elevator. Slootman moved to Silicon Valley in 1997. Yeah. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. We actually won everything that we wanted to win. It was just like Formula 1 of sailboat racing. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. 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. And it's like, "Well, why does that matter?" And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Once you understand relationships, you can now predict them. So now, we're having business conversations about data. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" You ever noticed that NFL quarterbacks just can't leave the stage. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Software company aims to benefit from companies increasingly storing information in multiple clouds Big tech firms are investing. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. 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. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. If you like what you heard, please rate us on iTunes, so other folks know where to find us. At the same time, I ended up in conversations with the lead director and investor at Snowflake. 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. We had no experience. 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? 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, truly retire. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. 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. He's a pretty good golfer. What is the core of your being, 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. 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. Yacht Racing is incredibly exciting and then it has a lot of corollaries to business because it's this multidimensional game of weather and competition, and what happens on the race course and reacting to it. You come with aptitude. They're very far removed from the drive train. You've said that you were really born in the wrong country. 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. Listen to this episode from This Week in Startups on Spotify. Well, the number one bit of advice I would have is make sure you're close to the drive train. Take our own company, Intercontinental Exchange, for example. But the essence of what I'm getting when I hire you is what you're innately good at. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. 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. On stacking, all of a sudden, your boat left behind and you go like, "Oh, my God," so because it's very hard to get ahead on an upwind leg, right? And that's a whole different deal. 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. Yeah, it was a good problem. Leone took Luddy on a host of interviews. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." So, what are things that we should absolutely not ask you to do ever? And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. 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. I mean, the results speak for themselves. Wikitia is not affiliated to Wikimedia Foundation.

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