What are your God-given talents? Not exactly like a year and a half, he'd been there for seven years. That's awesome. Never seen the inside of an office or anything. And that is our culture. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. One of the reasons I made it a very transparent discussion is that most people think that when you have these highly successful company, it just happens like poof, beautifully. 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 was sort of an adjunct to what they called the computer industry back then. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". Americans are, it doesn't matter what profession they're in, they always believe they can do better. We will talk to you next week. And it worked like that for about a hundred years. There was a problem saving your notification. WebFrank Slootman Chairman & CEO. Amp It Up is a must-read book for anyone looking to take their team and organization to the next level." Right? Email notifications are only sent once a day, and only if there are new matching items. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. But let's focus on another dilemma that brought up in the book, Frank. So, I finally caved, okay. 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? But they do because the world is changing to digital and this is the essence of digital transformation. I always become the CEO that the situation mandates and dictates. It's like, "That's not exciting." In Amp It Up, Frank, you say that a company's mission really has to be weaponized. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. What's your advice about someone climbing the corporate ladder looking to make that leap? Search the complete digital archives for all papers in the Pioneer News Group. And it's very rare to create that kind of value. Right? And then George Washington was sworn in as the first President of the United States, just a few feet from the front door of the NYSE on April 30th 1789. What is the core of your being, right? Because now you're buying somebody else's culture. SWOT Analysis of Snowflake As I said, what comes around, goes around. When we first came in there, it was a very, very anxiety-ridden ride in the early days. Frank Slootman - Chairman and Chief Executive Officer You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. Snowflake Inc. Company Profile | Bozeman, MT - Dun You have to have data to partial reality, right? They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. I remember having a conversation with the CEO of a very large healthcare company. It's really every leader in the organization needs to internalize and then, want to act on it. While that is probably not, my temperament is not terribly well-suited for those types of jobs. Snowflake - AMP IT UP: Leading for Hypergrowth by Raising Tell me about sailing, first of all. 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 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. Where I come from, people are quite resigned to their fate. I mean, anecdotal observation has pretty much run its course. Obviously all the financial reporting, all the systems. 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. Better, better all the time. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." And then I change myself to become that flavor of CEO. Yeah. 88 /100. So, because we all have our that's sell of awareness. 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. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. 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. People were looking at my credentials. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. That's NYSE ticker symbol S-N-O-W or snow who, like the immigrant inhabitants of New Amsterdam more than two centuries ago, has proven himself a master entrepreneur and visionary leader, able to take a great idea and scale it massively, and then apply the same playbook again and again. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Those are really good conversation, good questions to have because each organization is different. I'm the opposite. When you get that sensation, you do need to leave because you're no longer the right person for that situation. This is very much a country that believes things that other countries don't believe. Dynamic search and list-building capabilities. Read it now on the OReilly learning platform with a 10-day free trial. What's the playbook?" 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. Large cloud share company moves executive offices to I mean, you're not going to get excited, "Well, we want to grow 100% this year." We're driving change. It's you're in this job for a reason. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. In Amp It Up, he shares his must read offensive game plan for your business. Invalid password or account does not exist. 3,990. 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. Exponential growth is a critical goal for todays emerging ventures. OReilly members get unlimited access to books, live events, courses curated by job role, and more from OReilly and nearly 200 top publishers. Frank Slootman currently serves as Chairman and CEO at Snowflake. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". 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. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. 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." 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. 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. View Profile View. It's been extremely successful since we took over. You're finding the best sailors in the world and all of that. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. 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. We are a Delaware corporation with a globally distributed workforce and no corporate headquarters, read a footnote at the bottom of a Wednesday Securities and Exchange Commission filing, which also listed Bozeman as the location for the executive office. The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. There's no doubt, I'm a total hybrid here. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. And we were babes in the wood back then. Real-time trigger alerts. It's hard to get off of that. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. But 233 years later, American, Dutch and British interests are inexorably intertwined. If it's not related to our core mission, we don't want to hear about it. But for many, many other enterprises, including a lot of banks actually in the world of financial services, because they operate through branches and very conventional brick and mortar ways of interacting with customers, all of a sudden, it has to change rapidly. Frank Slootman - Forbes And that's, I had a question the other day from somebody that hit me on LinkedIn and he was putting all kinds of labels on himself. 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." These are big, big changes that we are experiencing in the marketplace, and were just super happy to be in the middle of that and be an enabler of that, he said, adding that Snowflake places its focus on growing at scale. You want to be the playmaker and the people that they're going to pass the ball to when we have two seconds left in the quarter, that kind of thing. It's a transformation that is still going on. 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. Unlike most CEO books today, this is a plain spoken, hard driving, attack oriented, precision obsessed offense. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. But he had also been the CEO of ServiceNow for seven years. It allows corporate users to store and analyze data using cloud-based hardware and software. Well, the number one bit of advice I would have is make sure you're close to the drive train. View source version on businesswire.com: Data Domain was really an interesting company. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. 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. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. Engineers should have a very easy time discerning the talent, so. 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. And my email just dribbled down to nothing and all this kind of thing." In the book, I go on and on about what some of those issues are. So, we started to wind down a little bit. And a lot of our people have the same malcontent attitude that I do. So, they looked around and they found the guy with a passport to Dutch language proficiency like. When I'm on offense out there, I don't worry about what's going on at home at the farm because that is in a very, very tight control mode. But the problem with tape was, I mean, tape got lost, tape became unreadable. WebSlootman has spent a lot of time and money in Montana in the years. And Mike was still the CEO at ServiceNow at that time. And a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? Right? Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. It became very meaningful to them. Frank Slootman - Chairman & CEO @ Snowflake Now, we're going to go move the pieces and I'm just a piece on the chessboard." Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. We're always picking at things that could be better. Right? So after a while, it's like, "Okay, we've done enough of this." I can't do every speaking engagement," et cetera. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Why did you give up the helm of the invisible hand for this new role with Snowflake? In the early days, I want to say like the first eight to 10 years or so, were actually immensely frustrating to me because I was a strange animal, right? We were going to do the world of favor.". And eventually, we totally crushed that market because we could address any and all use cases that were out there. Fortune On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. I mean, what drove you to move on? 2. And essentially, he defends. I mean, all these greats, right? And in other words, what problems can I solve very quickly versus what is going to take longer to solve. And rightfully so, by the way, because they have created something, right?. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. And when you let it happen, you get feed-ups. Let's go." Our guest today, Frank Slootman is chairman and CEO of Snowflake. They knew exactly what we meant. Were not a growth-at-all-costs company., Souness fights back tears as he announces emotional retirement on Sky Sports, Sky Sports' Martin Tyler slammed for 'racist' comment about Spurs star Son, Olly Murs breaks down on stage over Caroline Flack 'regret', Fulham's Pereira stretchered off with suspected broken leg in worrying scenes, News Group Newspapers Limited in England No. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. In other words, somebody who has lived their lives over and over. That's not a healthy dynamic. In AMP IT UP: Leading for Hypergrowth with High Expectations, Urgency, and Intensity (Wiley; January 19, 2022), Frank Slootman, chairman and CEO of Data Cloud company Snowflake (NYSE: SNOW), reveals what it takes to transform any organization, to maximize growth and scale. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. Right? So, a book becomes highly scalable way of really creating some well-curated observations around "Look, here's what we believe to be true about the trajectory that we've been on. And that's the American flavor and flare that has built up over three, almost four decades. And then, I had another internship after that. I mean, it gets rid of you. 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. They did not try to carry technology or ways of thinking forward. You could have a meeting in the hallway with the entire company. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. Frank has over 25 years of experience as an entrepreneur and executive in The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. 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? It's just, it's hard not to be acquainted at some level with that culture. You relate well to that way of thinking. 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. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. They sold the living hell out of that product. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. WebPortuguese products available Online we mail to all lower 48 states. 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. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. And having incredible meaning and potency and yield value for applications you never imagined. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Frank Slootman owns about 10 percent of Snowflake, Snowflake is a cloud computing-based date warehousing company, Snowflake's shares tumbled as much as 8 percent on May 26, Independent Press Standards Organisation (IPSO). And like, "How fast does this guy type?" 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. Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. Obviously, that industry had moved on to all kinds of different disk space technologies. You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. 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. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. I mean, we had like 15X, the X of the next nearest competitor. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. And historically, people have tried to answer these questions anecdotally. That's the reason why this country does so well. Once you understand relationships, you can now predict them. How does that work at Snowflake? And I've never been able to equal that level of success with a marketing slogan. And it's just, it's intoxicating that energy. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. Snowflake Inc. was founded in July 2012 in San Mateo, California by three data warehousing experts: Benot Dageville, Thierry Cruanes and Marcin ukowski. Thanks for listening. Create a password that only you will remember. I mean, we lived in absolute terror. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. They're kind of like-. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Well, they knew now. 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.

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