It's just, it's hard not to be acquainted at some level with that culture. And by the way, the inverse of that is what are you not good at? But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. And we were babes in the wood back then. Let's go." And historically, people have tried to answer these questions anecdotally. 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. But one of those issues was that taken over from a founder CEO was really, really hard. Once you start doing that, you need to take yourself out of the game. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. I mean, it's a hell of a cash burner as well. People were looking at my credentials. You want to be that person, okay? And having incredible meaning and potency and yield value for applications you never imagined. Our business is really going to conduct itself really over considerable, long periods of time, Slootman said in an interview with CNBCs Mad Money. 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. That's where we're at right now. Those are really good conversation, good questions to have because each organization is different. WebSnowflake is a Montana-based cloud-enabled data warehouse company that provides services including data storage and analytics for businesses. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. According to Forbes, the tech CEO has amassed a $2.1billion net worth. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. Not all CEOs have this, but a lot of CEOs do. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Americans are, it doesn't matter what profession they're in, they always believe they can do better. I only think about now and what I'm doing today. When a company is buying a million dollars from you in the course of a year, what are they getting? Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. 3,990. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. You can't help but run into Dutch people everywhere because they have such a small country. At Snowflake, we promise to treat your data with respect and will not share your information with any third party. Company still around, by the way. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." At the same time, I ended up in conversations with the lead director and investor at Snowflake. Bill McDermott, President and CEO, ServiceNow, What makes Frank the best technology CEO on the planet: he sets and then beats unreasonably high expectations; he is a high-integrity people leader; he makes the strategy clear to all; and he is a fearless leader willing to do whatever it takes to win. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. 88 /100. So, because we all have our that's sell of awareness. Some of the companys customers include companies like Capital One, Adobe, DoorDash, Western Union and PetCo. Yeah. Read it now on the OReilly learning platform with a 10-day free trial. And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. Hes an operations guru, the leader who turns a jet plane into a rocketship and makes piles of cash for investors, employees, and himself. What took you back to the Netherlands at one point? Choose wisely! Slootman, 61, is a professional CEO. 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. It takes nothing. I mean, all these greats, right? We tried to, we wanted to get into primary storage. I mean, in the book, Frank, you used the analogy of getting in the right elevator. 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 mean, that's how I felt at that time, like I had no more to give. But we didn't have the market capital resources to do that. I can't do every speaking engagement," et cetera. A compensation package he received upon joining People that the company really, really runs on. And that's exactly what we did. So, I ended up in odd places because they didn't know what to do with me. You've said that you were really born in the wrong country. Real-time trigger alerts. 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. That's the point of it. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. They're very lonely in their jobs. 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. Phone Email. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." You guys are a data company, you know as well, right? Welcome, Frank, inside the Ice House. 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 have permission to edit this article. And it wasn't charged for, so companies just couldn't build software because it was just given away. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Here's your host, Josh King of Intercontinental Exchange. We don't preside, okay? 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. They're very far removed from the drive train. $2.1B. Because you're like, "Oh, this is great. AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, Value Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. It's a transformation that is still going on. And are there any particular secrets to building a consensus around the idea of change? That takes very different approaches, orientation, skill sets, and so on what you do. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" Back then, there were hardly any software companies around. We'll do something good with it. They also appreciate it. Everyone's watching. And by the way, data platforms have been extremely fragmented historically. Everything in our world starts with technology, starts with architecture, okay? It's you're in this job for a reason. And it's just, it's intoxicating that energy. And Mike was still the CEO at ServiceNow at that time. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. In Amp It Up, he shares his must read offensive game plan for your business. Brad Gerstner, Founder & CEO, Altimeter Capital, "With Frank, it all starts and ends with hardcore and focused execution." We had this very high profile bidding war between the EMC and NetApp at that time. 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. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. I'm curious, how that opportunity at Data Domain came to you? It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Stories, Leadership & Right? The couple live in the Ruby Hill gated community in Pleasanton, a serene San Francisco Bay Area suburb where the typical home is worth $1.2 million. It's about 40 miles from Snowflake's San Mateo headquarters and a 3.5-hour drive from Lake Tahoe, where the Slootmans have owned a home. The Slootmans also have a ranch in southwestern Montana. And that is our culture. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Not all people are created equal in terms of their roles and their contributions in companies. 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. 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. A term that gets used a little bit too much in too many places. Your purchase was successful, and you are now logged in. I'm buying aptitude and then I'm going to develop that with experience, right? 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." It was just like Formula 1 of sailboat racing. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. What's the silver bullet? This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. So in hindsight, I understood that I was just burned out, classic burned out. In other words, "How fast does this might work?" 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? View Profile View. It's a small country, obviously, which is why they sort of veer far and wide. And companies that have been around a long time, it's near to impossible to undo the culture. You need to sort your issues into, "What am I going to focus on?" Subscribe today! To inquire about a licence to reproduce material, visit our Syndication site. Labs, Leadership & And in other words, I was already negotiating Mike's package before I had joined ServiceNow. 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. We're driving change. So, they looked around and they found the guy with a passport to Dutch language proficiency like. It wasn't, and the company wasn't failing financially on its growth objectives. I mean, anecdotal observation has pretty much run its course. Why did you give up the helm of the invisible hand for this new role with Snowflake? Don't typecast yourself." And Mike, he takes on the end entire spectrum of controls and administration. So, we came up with this war cry that said, "Tape sucks, move on." All these things eventually came together. Subscribers get full, survey-free access to the Bozeman Daily Chronicle's award-winning coverage both on our website and in our e-edition, a digital replica of the print edition. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. 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. That culture really keeps you safe from being indulgent or just, you're sort of presiding. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. SNOWFLAKE CEO Frank Slootman has asked his shareholdersto stay the course due to the company's cloud transition. ISBN: 9781119836117. 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. And Americans always think that there's an easy answer to these questions. It's up to 79% of the volume has gone cleared. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. It was great and it lasted the entire duration. Comparably score i. But then, you go like, "Oh, this is the rest of my life." Take our own company, Intercontinental Exchange, for example. Snowflake is a cloud computing-based date warehousing company. OReilly members get unlimited access to books, live events, courses curated by job role, and more from OReilly and nearly 200 top publishers. If you forget it, you'll be able to recover it using your email address. Amp It Up is a recipe we can all apply. Snowflake's headquarters is in Bozeman, Montana, and was founded in 2012. I'm like, "We're not trying to indict what you've done. Buyers and sellers can come together. This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. And it's very much a talent game just like business is. 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. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. If you like what you heard, please rate us on iTunes, so other folks know where to find us. I use that expression a lot to say, "Look, data operations is going to become your core." And we feel the consequences of our actions every minute of the day. No databases of scale and no file systems with scale. Most people just preside over culture. 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. This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. But the problem with tape was, I mean, tape got lost, tape became unreadable. You ever noticed that NFL quarterbacks just can't leave the stage. 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. He said, "Because you guys are indicting everything I've done." Amp It Up tells that story and how it can be recreated in other organizations. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Obviously all the financial reporting, all the systems. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. Neither ICE nor its 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, all of which is presented solely for informational and educational purposes. Once you understand relationships, you can now predict them. 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 In other words, somebody who has lived their lives over and over. As we're recording this in early 2022, the competition for talent has reached a boiling point. 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. It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. I'm in New York. Data Domain was really an interesting company. Right, you got a good point. Yeah, that goes back about mission posture. All of which is presented solely for informational and educational purposes. Now, we're going to go move the pieces and I'm just a piece on the chessboard." 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. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. 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. But they do because the world is changing to digital and this is the essence of digital transformation. And it's like, "Well, why does that matter?" by Frank Slootman. 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. In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8billion. 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. On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. Like Databricks, Snowflake also works within the Analytics sector. Amp It Up is a must-read book for anyone looking to take their team and organization to the next level." He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. 700. The stake alone is worth a hefty $1.4 billion. Submit by email, by post to 2820 W. College St., Bozeman, MT 59718 or use our online form. Thousands of customers across many industries, including 223 of the 2021 Fortune 500 as of October 31, 2021, use Snowflake Data Cloud to power their businesses. Anybody who's tried to run HP can talk about that because you have companies that have existed for whatever, 50, 100 years, you don't get rid of culture. It's really every leader in the organization needs to internalize and then, want to act on it. 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. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. You must click the activation link in order to complete your subscription. Software was barely an industry. A multi-billion dollar cloud-based data company announced this week it had relocated its primary offices to Bozeman. And rightfully so, by the way, because they have created something, right?. 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? It's not that easy. But it's not what it really is, so it wasn't an enormous surprise to me to come here. 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? By providing your email address below, you are providing consent to Snowflake to send you the requested Investor Email Alert updates. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. That's the reason why this country does so well. And I talk about that in the book, because again, there's observations, maybe even lessons that can be extracted from what happens when you're in a crowded field and you're trying to separate yourself from the pack. I mean, you can take somebody out of their country, but you can't take the country out of the person, as the old saying goes. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Amp it up and the results will follow. Everybody has access to talent. And by the way, for most people, that's a very difficult question. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. View the full release here: https://www.businesswire.com/news/home/20220119005295/en/, AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, by Frank Slootman, chairman and CEO of Data Cloud company Snowflake. 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. WebPortuguese products available Online we mail to all lower 48 states. Invalid password or account does not exist. Our business is really going to conduct itself really over considerable, long periods of time, Slootman said in an interview with CNBCs Mad Money. So, it was an incredible trial by fire. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". Analytics, Hands-on It is a future state that we're all working on right now. Board, Speakers Submitting this form below will send a message to your email with a link to change your password. As young as I was, I mean, I was determined that that's where I wanted to be and certainly, not hardware because I saw another way for commoditization happening over there. But in the end, it's like we have to get into backup software in which we tried. 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. You need to be invested in the moment, in the present, rather than I'm thinking about my next move. So, we're going to be in the middle of that. We had no experience. 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 focuses on the keys to mission-driven leadership discipline, proven to drive exponential growth and hundreds of billions of dollars in market value. I'm trying to get into markets, not get out of them, but strategically we had a dilemma and others that we were, what I would call landlocked, maybe another nautical Dutch type of term, because we couldn't get beyond our core business of backup and recovery. 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. Correct, correct. And there were many, many players in that segment, by the way. 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. You could eject the tape from a tape drive and you could ship it off site. There was a problem saving your notification. So like, "Look, I'm not going to be doing the same races over and over again." Better, better all the time. View source version on businesswire.com: View our online Press Pack. 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 mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. And for example, when I joined Unysis, I ended up in a corporate planning role. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. Thomas M. Siebel Chairman & CEO. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. Slootman owns about 10 percent of Snowflake. Slootman has also contributed money to political campaigns for both Gov. Everybody has access to capital. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. And that went on literally for years, okay? Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. While that is probably not, my temperament is not terribly well-suited for those types of jobs. I don't care for any of that. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." I mean, we lived in absolute terror. 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). Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com. I remember having a conversation with the CEO of a very large healthcare company. 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. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Right? Dageville and Cruanes previously worked as data architects at Oracle Corporation; ukowski was a co-founder of the Dutch start-up Vectorwise. Publisher (s): Wiley. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Analytics, Why The company says its still without a headquarters, but federal law requires it name a principal executive office..
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