You could have a meeting in the hallway with the entire company. I always tell my own people, "Look, I'm a piece on the chessboard, okay? It's a small country, obviously, which is why they sort of veer far and wide. Yeah, yeah. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. And there is a following for this and the reason that we know that is because we wrote a book back in 2009, 2010, that sort of became a combat manual for entrepreneurs over the years where, because this is really for people that have nowhere else to turn. Reflects change since 5 pm ET of prior trading day. [1] And Mike, he takes on the end entire spectrum of controls and administration. 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. 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?" Everybody has access to talent. But yeah, aptitude is really about, what are you innately good at? 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). Slootman moved to Silicon Valley in 1997. As I said, what comes around, goes around. I mean, it was a super crowded field, but we just crushed that entire field. He cuts back where he sees fit. 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. I don't care for any of that. You arrived at something like tape sucks. No databases of scale and no file systems with scale. 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. Are you just going to look the other way or are you going to call it out? Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. Thanks so much for joining us inside the Ice House. We played a round of golf. And are there any particular secrets to building a consensus around the idea of change? I'm buying aptitude and then I'm going to develop that with experience, right? So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". I always find the problem when I hire people that are already, they have just taken a job and they're already about their next job. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. So, it's the story, what goes around, comes around, as I said at the beginning. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. And rightfully so, by the way, because they have created something, right?. What is the core of your being, right? But 233 years later, American, Dutch and British interests are inexorably intertwined. And people really want to be led in that manner. 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. I'm on the phone with customers every day. See what you can do with it" to data driving operations directly, right? Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. In other words, somebody who has lived their lives over and over. We now use consumption models instead of subscription models. And when you're burned out, you don't regenerate anymore. And I said, "Why not?" And it's like, "Well, why does that matter?" And we feel the consequences of our actions every minute of the day. We'll do something good with it. In any successful company just ask them, they will attribute success to their culture. But he had also been the CEO of ServiceNow for seven years. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. We don't preside, okay? [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. Good sales people have a track record. Including his options, Slootman owns about 10% 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. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. Much like how he runs his companies, Slootman is always direct in his speeches. He's like, "How do we run a supply chain?" 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. Let's go." Because, and this is another important observation, I think. It's up to 79% of the volume has gone cleared. 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. 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 then, I had another internship after that. We just never backed off of it. I don't know what, if you go back to those days. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Frank Lloyd Wright Home and Studio. But this was quickly set aside because Frank appears to walk the walk. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. I'm the opposite. That culture really keeps you safe from being indulgent or just, you're sort of presiding. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. And then of course, Michael Dell found just as attractive to bring EMC into Dell. Windows 3.1 didn't even exist. 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. That's the point of it. Photo by Christie Hemm Klok/The Forbes Collection. So, I really lift that cross and the chasm dynamic. Well, that's another thing I don't think about that. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . They did not try to carry technology or ways of thinking forward. Once you start doing that, you need to take yourself out of the game. Where I come from, people are quite resigned to their fate. It's been extremely successful since we took over. 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 need to know what that is. So, we were just picking over use cases here and there to sort of stay alive in the early days. And you can't play chess pieces in a million different ways, right? I'm in New York. You want to be that person, okay? Here's your host, Josh King of Intercontinental Exchange. And that is a common thread through all our companies. 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. Well, they knew now. Okay. 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 we were babes in the wood back then. You could eject the tape from a tape drive and you could ship it off site. So like, "Look, I'm not going to be doing the same races over and over again." And I've never been able to equal that level of success with a marketing slogan. But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? Everything in our world starts with technology, starts with architecture, okay? And obviously that is not the best way to go about things because that's just one man's opinion against another, right? 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 . I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. So, they looked around and they found the guy with a passport to Dutch language proficiency like. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Correct, correct. 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. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. 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. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. Creative Commons Attribution-ShareAlike. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. I mean, what drove you to move on? At the same time, I ended up in conversations with the lead director and investor at Snowflake. And he always talked about Snowflake because it was a very exciting company to him and I didn't know that much about it, but enough to have a conversation. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? It could address very few use cases. You guys are a data company, you know as well, right? Leone took Luddy on a host of interviews. 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. Data has no opinion. They're very safe. So, we won a lot of outraces. 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. Mar 11, 2021, 11:30 ET. And Mike was still the CEO at ServiceNow at that time. By the close of. I mean, it's a hell of a cash burner as well. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. And that went on literally for years, okay? And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Things will change in ways you cannot even imagine the ideas that happen. He cancelled the luxurious annual employee ski trip to Tahoe. And for our audience who may not remember the days of tape backups, can you explain the underlying concept that you grew from two men and a dog into a multibillion dollar business? Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. They just have such a hard time doing it because that's who they are, that's what they live for. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. We cannot just read our emails and have a few phone conversations and know what's going on. 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? 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? This is a very buoyant country. 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. And I'm like, "You know what? But EMC prevailed. 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. 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. I mean, that's how aligned this is, okay? We had no experience. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. But it's also, you attack and you cross again. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. I only think about now and what I'm doing today. 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. 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. The. Every week there was a new bid. Data Domain was really an interesting company. You're finding the best sailors in the world and all of that. And of course, the appetite is insatiable for both technology and people that know how to make this future 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). It's really every leader in the organization needs to internalize and then, want to act on it. Well, the number one bit of advice I would have is make sure you're close to the drive train. Now, what that does the weaponizing, what that does is we block everything else out. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. So, we came up with this war cry that said, "Tape sucks, move on." 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. And a lot of our people have the same malcontent attitude that I do. Look, I'm not a certain type of CEO. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? It will be fine. Given his accolades, Slootman gets invited to speak at many events. They're kind of like-. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. The good thing is you dont have to actually sit in with Slootman to get his lessons. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. It's not just a scale. And if I can't predict it, I can't change my policy, I can't change my pricing." 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? But let's focus on another dilemma that brought up in the book, Frank. In other words, swarm to it instead of distance yourself from it. And opinions, everybody's got one, but data doesn't lie. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. And it's just, it's intoxicating that energy. Right? Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. But with three IPOs in your rear view mirror and one attempt at retirement already failing to stick, what do you see as the next chapter in Frank Slootman's journey? That was career death for people, so it was just the least flattering place in the entire IT operation was backup and recovery based on tape, very logistically, intense. So, you need to create a platform that allows data to be enriched and be joined and be blended and be overlaid in ways that data scientist only have insight into. I use that expression a lot to say, "Look, data operations is going to become your core." 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. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. It's very hard. And the term BI had not even been invented back then. So, I ended up in odd places because they didn't know what to do with me. We call it a turn on the crank and we came out with a product that was at least twice as big, twice as fast, so the market kind of opened up gradually for us. 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. I mean, it's like when people start to roll their eyes. Right? 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. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? 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. And you had literally physical media that could logistically manage. So, we're going to be in the middle of that. And that is our culture. And that's all coming up right after this. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. 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. And Americans always think that there's an easy answer to these questions. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. 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. You've said that you were really born in the wrong country. One of the worst, worst in the English language for me. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. And Brett Favre was that way. What was that? Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? Never seen the inside of an office or anything. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. And did you have a sense that the sector was really about to explode? Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. What attracted you to the space? Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. And then being able to talk about it in an intelligent, really rich-considered manner. If you want to know more about this CEO, this might be the book to read. I hate to break it to the audience, but that is the way that it is. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Quick digression. That is how you energize companies. I just have been in the line of fire too long. A term that gets used a little bit too much in too many places. He's a Dutchman Slootman moved to Silicon Valley in 1997. 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. That's a running joke that we always have. 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. 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. And that's the American flavor and flare that has built up over three, almost four decades. [9] In June 2019, the company launched Snowflake Data Exchange. 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. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. I don't think about what's next. welcome back! But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. Right? 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. I mean, they had graphical user interfaces that were completely proprietary to that company. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. [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]. Well, building culture is a very forceful thing. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. the internship sort of came about because I was about a year ahead of schedule at the university. 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. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. That's the reason why this country does so well. The pandemic has. Company still around, by the way. Give me that train wreck. 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. And eventually, we totally crushed that market because we could address any and all use cases that were out there.
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