Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. It wasn't long before top VCs weighed in. So, I ended up going back to, I really didn't want to. Every week there was a new bid. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." That's the reason why this country does so well. I mean, anecdotal observation has pretty much run its course. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. [1] That's when you're at risk. It's not just a scale. It could address very few use cases. I mean, they had graphical user interfaces that were completely proprietary to that company. 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. I hate that. So, we started to wind down a little bit. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? When you get that sensation, you do need to leave because you're no longer the right person for that situation. Okay. And that's a whole different deal. 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. 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. I'm like, "We're not trying to indict what you've done. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. Get the world to sort of move onto a different technology platforms, et cetera. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. And historically, people have tried to answer these questions anecdotally. 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. 5.9% of any company is a huge deal. 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? It's up to 79% of the volume has gone cleared. 951 Chicago Ave., Oak Park, IL 60302. All these things eventually came together. That's really what you want to preserve rather than layers and layers and layers and channels of communication. This page was last edited on 12 March 2021, at 18:12. It's like, "That's not exciting." And people really want to be led in that manner. He cancelled the luxurious annual employee ski trip to Tahoe. I'm the opposite. I can just blow a year on doing some other stuff that's interesting." So, it just started to happen, but I wanted to desperately be in software at that time. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. 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. Much like how he runs his companies, Slootman is always direct in his speeches. Slootman moved to Silicon Valley in 1997. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. As we're recording this in early 2022, the competition for talent has reached a boiling point. I mean, you're not going to get excited, "Well, we want to grow 100% this year." 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. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. 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. You can only sail so much, [crosstalk 00:31:19]. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. Frank Lloyd Wright Home and Studio. And you can take it or leave it and try it on for size and see if you like it." Our guest today, Frank Slootman is chairman and CEO of Snowflake. Everybody has ideas. Architecturally, just damn near perfect, so. They're very safe. 5. We're always picking at things that could be better. 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? There's new business models. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. The founder brings you in to scale up the company, but finds it difficult to step aside. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? 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. So, it was an incredible trial by fire. Thanks for listening. Slootman knows exactly what hes doing. Let me bring you back 10 years to 2012, Benoit Dageville, Thierry Cruanes, and Marcin ukowski started Snowflake as the secret name of the startup they were working on during that particularly hot summer. And, how do you design single best data operations platform you possibly can?". And a lot of our people have the same malcontent attitude that I do. 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. It's really a company production, by the way. Everybody has access to talent. Leone took Luddy on a host of interviews. When some of these firms moved out to Canary Wharf, they decided that actually, it was too much to be sending people to the room, so they moved it to a phone call to buy and sell and establishing a price. 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. They're very lonely in their jobs. 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? And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. And it's very rare to create that kind of value. We're driving change. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. 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. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. So, we're going to be in the middle 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. But let's focus on another dilemma that brought up in the book, Frank. Mar 11, 2021, 11:30 ET. We cannot just read our emails and have a few phone conversations and know what's going on. Meaning that we would run something like Tableau on top of Salesforce or whatever. In short, money talks, and Slootmans got it in his hands and in his mouth. 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. After the break Snowflake's CEO Frank Slootman and I are going to preview and review some of the other lessons in his new book, Amp It Up. 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. I'm just, I'm fighting that tide. I mean, it was a super crowded field, but we just crushed that entire field. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." Insurance companies historically have not been because they are data companies by their essence, right? Because of his much sought-after expertise, Slootman gets paid a decent sum of money. Todays companies all want to achieve exponential growth and according to Frank Slootman, author of a new book for business leaders, every organization has the potential to scale to massive heights. And for example, when I joined Unysis, I ended up in a corporate planning role. What took you back to the Netherlands at one point? You can't help but run into Dutch people everywhere because they have such a small country. It is data operations from the most transactional to the most analytical and everything in between, so. This is a country that's very aspirational. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. You want to be that person, okay? And companies that have been around a long time, it's near to impossible to undo the culture. This is really think about it as a database in the Cloud. And eventually, we totally crushed that market because we could address any and all use cases that were out there. And it wasn't charged for, so companies just couldn't build software because it was just given away. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. It was just like Formula 1 of sailboat racing. I mean, it was doing well. We now use consumption models instead of subscription models. Over the past 20 years, as CEO of Data Domain and then ServiceNow and now Snowflake, Frank Slootman has generated extraordinary growth and success for each company and established himself as one of the world's top CEOs. But you mentioned this earlier, it isn't really what happened. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." You need to be invested in the moment, in the present, rather than I'm thinking about my next move. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. 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. 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. Slootman applies this philosophy in the workplace as well. I mean, it's hard to believe at this day and age that things were that way back then, but they were. I can't do every speaking engagement," et cetera. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . And in other words, I was already negotiating Mike's package before I had joined ServiceNow. I look at the situation, "What does this require?" Reflects change since 5 pm ET of prior trading day. 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. 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're burned out, you don't regenerate anymore. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. But 233 years later, American, Dutch and British interests are inexorably intertwined. I don't know what, if you go back to those days. CEO Frank Slootman told CNBC in January that after the Covid-19 outbreak forced people to work from home, it became clear that the old way of working wasn't going to return. There are many questions left unanswered about the months leading up to Snowflake going public. 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. It's just our nature to talk about problems." And the term BI had not even been invented back then. That's awesome. I need to know what that is. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. But yeah, aptitude is really about, what are you innately good at? But then, you go like, "Oh, this is the rest of my life." And my email just dribbled down to nothing and all this kind of thing." Some may describe him as direct. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. People naturally become very unfocused, very, very easily. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. Investors know this about us. They're kind of like whine and bitch all day. Nothing herein constitutes an offer to sell, a solicitation of an offer to buy any security or a recommendation of any security or trading practice. Snowflake CEO Frank Slootman Leading for Hypergrowth 2,637 views Jan 15, 2022 Frank Slootman is an American billionaire businessman, individual investor, technology executive, and the.

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