I actually wanted to retire, truth be told. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. I always become the CEO that the situation mandates and dictates. I mean, for example, I remember when we first, got involved with Geico and Todd Combs, the CEO, said, "Look, I don't need any more lectures from you guys on architectural prowess and all this sort of thing." ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. Everyone's watching. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. Architecturally, just damn near perfect, so. 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." Others might say that hes completely brash. Are you just going to look the other way or are you going to call it out? We're always picking at things that could be better. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." Bunkers is basically a silo that's incredibly hard to access. It's just, it's hard not to be acquainted at some level with that culture. We're driving change. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". By the close of. When you run companies, you need to narrow the plane of attack very, very quickly. And now, welcome inside the ICE House. It was small, it was slow. You relate well to that way of thinking. In other words, somebody who has lived their lives over and over. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . They always have a twinkle in their eye and they're going to do this, they're going to do that. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. Investors know this about us. We were entertainment for Wall Street for a six-week period. And I had already made a little bit of a name for myself in the company. When I was at Data Domain, hell, we were 15 people when I joined there. Why did you give up the helm of the invisible hand for this new role with Snowflake? 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. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. Now, as the story goes, England followed the Netherlands in control of Manhattan. What's your advice about someone climbing the corporate ladder looking to make that leap? Brady is a great example, but Joe Montana was that way and they all craved that energy, that excitement, that intensity, they can't let it go. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. I can't get you aptitude. I'm like, "We're not trying to indict what you've done. When a company is buying a million dollars from you in the course of a year, what are they getting? But the essence of what I'm getting when I hire you is what you're innately good at. I don't know what, if you go back to those days. Okay? Now, for us, it's a data Cloud. And did you have a sense that the sector was really about to explode? 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? Engineers should have a very easy time discerning the talent, so. What attracted you to the space? What's the playbook?" And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. We don't preside, okay? Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. 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. 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. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. It becomes the beating heart of a modern enterprise. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. We wanted to buy technology from, what at that time was Veritas, Convo, companies that are still around, because then we could really address the, the functional scale and scope off our platform. I hate to break it to the audience, but that is the way that it is. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. So, one of the things that, that our founders did really, really well and it's a very important lesson here for anybody that's watching Snowflake and trying to understand is that they took a clean sheet of paper. We're going to nuke an entire industry out of existence. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. I mean, it was a super crowded field, but we just crushed that entire field. Many in the emerging tech sector would name Frank Slootman easily because of the kind of substance he gives when he speaks. It was very formative. But 233 years later, American, Dutch and British interests are inexorably intertwined. And then Snowflake is again, a totally different. And, how do you design single best data operations platform you possibly can?". Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. Most people just preside over culture. And of course, people chuckled because they recognized it. A compensation package he received upon joining Snowflake in April 2019 awards him a. 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. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . 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. Look, I'm not a certain type of CEO. This site uses Akismet to reduce spam. All of us, no exceptions." Thanks for listening. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. Frank Slootman currently serves as Chairman and CEO at Snowflake. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. How does that work at Snowflake? And obviously that is not the best way to go about things because that's just one man's opinion against another, right? At 61 years old, Slootman has created quite the reputation for himself. That's why they're big in banking and insurance and distribution and logistics. But it's not what it really is, so it wasn't an enormous surprise to me to come here. Your mission is you're pursuing an end state or at least the closest thing to what you can envision, to what you want to realize as a couple. So, what are things that we should absolutely not ask you to do ever? As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. At some point, we were going to get stunted in our growth. Give me that train wreck. 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. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." But this was quickly set aside because Frank appears to walk the walk. Well, they knew now. Take our own company, Intercontinental Exchange, for example. 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. So after a while, it's like, "Okay, we've done enough of this." But one of those issues was that taken over from a founder CEO was really, really hard. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. 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. And Americans always think that there's an easy answer to these questions. I mean, it's hard to believe at this day and age that things were that way back then, but they were. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. 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. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. That is how you energize companies. Get the world to sort of move onto a different technology platforms, et cetera. And essentially, he defends. I can't do every speaking engagement," et cetera. And you can't play chess pieces in a million different ways, right? This property is owned by Frank & Brenda Slootman. Thanks so much for joining us inside the Ice House. Americans are, it doesn't matter what profession they're in, they always believe they can do better. 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. You come with aptitude. But in the end, it's like we have to get into backup software in which we tried. You ever noticed that NFL quarterbacks just can't leave the stage. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. 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 look at the situation, "What does this require?" When you get that sensation, you do need to leave because you're no longer the right person for that situation. I mean, all these greats, right? Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. 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. And I said, "Why not?" What you're doing now is doing pretty good, so keep yourself in the game, Frank. It's not just a scale. The consequences of your action are like right there. It wasn't long before top VCs weighed in. I remember having a conversation with the CEO of a very large healthcare company. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. You cannot sell your way through a crappy product, okay? Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along 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. Here's your host, Josh King of Intercontinental Exchange. Because you're like, "Oh, this is great. In other words, "How fast does this might work?" And it's like, "Well, why does that matter?" Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. And it worked like that for about a hundred years. Because they can't understand how spending categories can just explode overnight like that. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. I talk to more people than most people in the company do, and that makes me dangerous because I hear directly what is going on - good, bad, and somewhere in between. I don't think about what's next. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Who can solve what set of issues, right? Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. Quick digression. All these things eventually came together. That takes very different approaches, orientation, skill sets, and so on what you do. And Brett Favre was that way. But we didn't have the market capital resources to do that. But he had also been the CEO of ServiceNow for seven years. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." Sometimes that is hard for American audiences. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. It's really every leader in the organization needs to internalize and then, want to act on it. That's where we're at right now. And are there any particular secrets to building a consensus around the idea of change? I'm curious, how that opportunity at Data Domain came to you? 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. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. Right? CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Wikitia is not affiliated to Wikimedia Foundation. 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. That's a running joke that we always have. It's just our nature to talk about problems." They've never really been asked that before. Right. This is a very buoyant country. I mean, truly retire. 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. Okay. Because that's what it is. 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. 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. 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? It's really a company production, by the way. And that is our culture. But you dont achieve a $1.8 billion net worth by being a spendthrift. As we're recording this in early 2022, the competition for talent has reached a boiling point. It wasn't, and the company wasn't failing financially on its growth objectives. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. Every week there was a new bid. It's like it's full of feedback. 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. So, we came up with this war cry that said, "Tape sucks, move on." And if I can't predict it, I can't change my policy, I can't change my pricing." Now, we're going to go move the pieces and I'm just a piece on the chessboard." Our headquarters is in Atlanta, Georgia. That is the X factor in companies, but it starts with weaponizing the mission. I mean, 16 months after you and Mike came to Snowflake, you raised $3.4 billion as part of its IPO, instantly establishing Snowflake as one of the NYC's marquee companies. I was like, "Jesus, I spent my whole life trying to get here. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? I was a huge fan coming here. And he and I were serving on another board together and every time we we'd go to our quarterly board meetings, we'd have lunch and discuss the state of a affairs in the world and blah, blah, blah, sort of thing people do in Silicon Valley. 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. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. 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. Read More 10 Things You Did Not Know About Thoughtspot CEO Sudheesh NairContinue, If you follow business news, you may have heard that on September 29, 2021, Totango announced it had raised $100 million in Series D funding. Not all people are created equal in terms of their roles and their contributions in companies. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" Insurance companies historically have not been because they are data companies by their essence, right? And it's very much a talent game just like business is. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. And when you buy companies, it gets worse, right? And it wasn't charged for, so companies just couldn't build software because it was just given away. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. I mean, the results speak for themselves. 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. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. I just have been in the line of fire too long. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. And the product was insanely fast, completely automated. 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 . In other words, they kind of let it happen. The. Leone took Luddy on a host of interviews. Not all CEOs have this, but a lot of CEOs do. 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'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Because now you're buying somebody else's culture. You want to be that person, okay? New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 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. 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. At the same time, I ended up in conversations with the lead director and investor at Snowflake. I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. 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. 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? This is probably the biggest understatement of the year. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? So, I finally caved, okay. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. 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. 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 to a $2.4 billion acquisition. And opinions, everybody's got one, but data doesn't lie. But eventually, I returned to Holland about a year later, resumed my education. Good sales people have a track record. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. Right? Once you understand relationships, you can now predict them. And you mentioned several times in the book that you look for aptitude over experience, does that focus help snowflake identify young talent and how do you measure aptitude? Right? Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. 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?" [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. Some may describe him as direct. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. And it's just, it's intoxicating that energy. I mean, it's like when people start to roll their eyes. Once you start doing that, you need to take yourself out of the game. You're finding the best sailors in the world and all of that. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. It could address very few use cases. 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. That is the most, that is so unproductive. You just get into this cycle where all you want to do is leave. 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. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. He's a pretty good golfer. 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. We now use consumption models instead of subscription models. Learned an awful lot in that period of time. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. We tried to, we wanted to get into primary storage. 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. Software was barely an industry. The interesting thing about data domain was it was very, very slow going. 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. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. And people would eyeball those reports in those dashboards, and that was sort of the extent of it.