He published a book in 2011 called Tape Sucks. 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. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. While most CEO's 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. 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. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. Phone: 312.994.4000. And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. And you can take it or leave it and try it on for size and see if you like it." It's very hard. Including his options, Slootman owns about 10% of Snowflake. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. You just get into this cycle where all you want to do is leave. By the close of. Insurance companies historically have not been because they are data companies by their essence, right? Frank Slootman added: " I'm excited to advise Blackstone. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. And you had literally physical media that could logistically manage. 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. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. Not exactly like a year and a half, he'd been there for seven years. What you're doing now is doing pretty good, so keep yourself in the game, Frank. You come with aptitude. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. So, the earlier you show up, the better off you are. This property is owned by Frank & Brenda Slootman. We'll do something good with it. Not all people are created equal in terms of their roles and their contributions in companies. But if you're performing at Tom Brady's level, you have no reason to step aside. And that's our conversation for this week. Because you're like, "Oh, this is great. And that's the American flavor and flare that has built up over three, almost four decades. BUILDINGS. 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. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. And my email just dribbled down to nothing and all this kind of thing." 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. Make it as easy as I could make it. Slootmans style of leadership is not gentle at all. 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." 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. What are your God-given talents? 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. This is a country that's very aspirational. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSE's history, but it wasn't his first rodeo. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. I don't know what, if you go back to those days. I mean, it's hard to believe at this day and age that things were that way back then, but they were. 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. I just have been in the line of fire too long. 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. Reflects change since 5 pm ET of prior trading day. We played a round of golf. But you mentioned this earlier, it isn't really what happened. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. By the close of. Not all CEOs have this, but a lot of CEOs do. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. That's really what you want to preserve rather than layers and layers and layers and channels of communication. 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. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. 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. 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. Can you explain how you overcame both to lead the company through its 2012 IPO? It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. You could have a meeting in the hallway with the entire company. But 233 years later, American, Dutch and British interests are inexorably intertwined. welcome back! Because of his much sought-after expertise, Slootman gets paid a decent sum of money. What attracted you to the space? Creative Commons Attribution-ShareAlike. They're very lonely in their jobs. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. And it worked like that for about a hundred years. 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. But EMC prevailed. I mean, you probably have even a sense of things that you know you're not good at. Look, I'm not a certain type of CEO. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. Slootman applies this philosophy in the workplace as well. People that the company really, really runs on. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. It wasn't long before top VCs weighed in. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). Theres no surprise here. That culture really keeps you safe from being indulgent or just, you're sort of presiding. So, it was an incredible trial by fire. 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 . I'm in New York. Yeah, yeah. Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. There's no doubt, I'm a total hybrid here. What is the core of your being, right? 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? Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. Open main menu Close main menu Home About Us Contact Us States Advanced Search We were entertainment for Wall Street for a six-week period. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. What kind of people fail here and why?" This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. Thanks for listening. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. The consequences of your action are like right there. Sometimes that is hard for American audiences. It takes nothing. And Americans always think that there's an easy answer to these questions. I use that expression a lot to say, "Look, data operations is going to become your core." Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. And the product was insanely fast, completely automated. 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. All of which is presented solely for informational and educational purposes. Now, most organizations are incredibly in up still in terms of their data promise. 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. Frank Slootman - Narrow the Focus, Increase the Quality - [In Helping women become better in negotiation is an urgent and essential task for organizations and individuals. But let's focus on another dilemma that brought up in the book, Frank. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. You cannot sell your way through a crappy product, okay? And that's a whole different deal. And eventually, we totally crushed that market because we could address any and all use cases that were out there. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. None of that stuff is material to your mission. We now use consumption models instead of subscription models. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. It was sort of an adjunct to what they called the computer industry back then. So, it's the story, what goes around, comes around, as I said at the beginning. 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