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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. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. That's why they're big in banking and insurance and distribution and logistics. So, I finally caved, okay. Here's your host, Josh King of Intercontinental Exchange. 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. I mean, truly retire. In other words, as a leadership team, it's not just the CEO. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. Make it as easy as I could make it. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. 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. 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. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. 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. 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. Because, if I can't explain it, then I can't predict it. In other words, you got to really mean it, okay? You need to sort your issues into, "What am I going to focus on?" 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. Tell me about sailing, first of all. Good sales people have a track record. 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. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. Once you start doing that, you need to take yourself out of the game. 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. 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. So, I ended up in odd places because they didn't know what to do with me. 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. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. I hate to break it to the audience, but that is the way that it is. You guys are a data company, you know as well, right? But in the end, it's like we have to get into backup software in which we tried. So now, we're having business conversations about data. It was small, it was slow. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. And the product was insanely fast, completely automated. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. And it's very rare to create that kind of value. 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. 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 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. 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." And Brett Favre was that way. And that's a whole different deal. But you dont achieve a $1.8 billion net worth by being a spendthrift. He's a Dutchman Slootman moved to Silicon Valley in 1997. You really need to, look at yourself as an asset that can be applied in many, many different ways. It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. Presiding is the worst word. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? And then I change myself to become that flavor of CEO. So it's a very important question because if I hire you, I can get you experience every day at the week. And companies that have been around a long time, it's near to impossible to undo the culture. 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. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. So, we're going to be in the middle of that. Right? That culture really keeps you safe from being indulgent or just, you're sort of presiding. No, we're talking about stuff that's not working well. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC Sometimes that is hard for American audiences. Nothing to do with financial targets or growth targets or market capitalization. Prior to joining Snowflake, Frank served as the CEO of ServiceNow and that's NYSE ticker symbol, NOW and Data Domain, leading both of those firms successfully through their IPOs. Yeah, it was a good problem. But we didn't have the market capital resources to do that. It's just that there is a spirit here that always believes that it can do things that other countries don't believe about themselves. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. And when you're burned out, you don't regenerate anymore. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. It's hard to get off of that. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. There's new business models. It takes nothing. Engineers should have a very easy time discerning the talent, so. That is the X factor in companies, but it starts with weaponizing the mission. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. 5. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." It pays a lot to be in the business of knowing what you do, and Slootman knows more than the rest of us when it comes to money, the market, and the software industry. Learn how your comment data is processed. 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. I hate that. 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. Well, building culture is a very forceful thing. Early days of ServiceNow was just jungle fighting. I'm buying aptitude and then I'm going to develop that with experience, right? See what you can do with it" to data driving operations directly, right? It is a future state that we're all working on right now. They're very far removed from the drive train. 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. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. 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. Yeah, yeah. 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. 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. It's really a company production, by the way. And you need to have the flexibility of mind to really deploy yourself. And that's exactly what we did. We had this very high profile bidding war between the EMC and NetApp at that time. The question is, what are you going to do? 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 . Amp It Up: Snowflake boss pens hands-on CEO toolkit And I've never been able to equal that level of success with a marketing slogan. No. It was just like Formula 1 of sailboat racing. If there were one person you could sit and learn from today, who would it be? And Mike was still the CEO at ServiceNow at that time. There are many questions left unanswered about the months leading up to Snowflake going public. I actually wanted to retire, truth be told. From Broke To Billionaire: How Fred Luddy Built - Forbes That's the reason why this country does so well. Not exactly like a year and a half, he'd been there for seven years. 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. Phone: 312.994.4000. And that's the American flavor and flare that has built up over three, almost four decades. Right? Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To So, I did. I just have been in the line of fire too long. Frank Lloyd Wright's Buildings in Japan 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. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. This site uses Akismet to reduce spam. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. Look, I'm not a certain type of CEO. 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). What are your God-given talents? Get the world to sort of move onto a different technology platforms, et cetera. 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. 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). But let's focus on another dilemma that brought up in the book, Frank. And obviously, I got that in spades at UN Royal in Indiana. In short, money talks, and Slootmans got it in his hands and in his mouth. 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. Slootman said diversity comes second when making . And for example, when I joined Unysis, I ended up in a corporate planning role. I need to know what that is. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE I speak with a fat accent and like, "What are we going to do with you, pal?" And it's like, "Well, why does that matter?" Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. 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. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. This is a country that's very aspirational. It was sort of an adjunct to what they called the computer industry back then. 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? But you mentioned this earlier, it isn't really what happened. If you like what you heard, please rate us on iTunes, so other folks know where to find us. When you run companies, you need to narrow the plane of attack very, very quickly. And it worked like that for about a hundred years. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. But the essence of what I'm getting when I hire you is what you're innately good at. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. By the close of. 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. How does that work at Snowflake? 2023 Forbes Media LLC. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO.

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