And rightfully so, by the way, because they have created something, right?. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. Submit by email, by post to 2820 W. College St., Bozeman, MT 59718 or use our online form. Our guest today, Frank Slootman is chairman and CEO of Snowflake. And when you let it happen, you get feed-ups. He said, "Because you guys are indicting everything I've done." Snowflake, a data analytics and warehouse firm, which Forbes valued at about $60 billion, said in an an earnings report released Wednesday that its executive offices have moved from California to Bozeman. That's actually another important bit of learning with a lot of people take on CEO roles and they keep doing their last job because that's familiar to them and they love it and they keep doing it. So, because we all have our that's sell of awareness. 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. And opinions, everybody's got one, but data doesn't lie. Because you're like, "Oh, this is great. 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. And when you're burned out, you don't regenerate anymore. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". By the way, everything he did had to be insanely great because he just couldn't get out of bed if it wasn't insanely great. And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. Now, what that does the weaponizing, what that does is we block everything else out. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. 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). 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. Look, I'm not a certain type of CEO. Right? You come with aptitude. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. No, we're talking about stuff that's not working well. Snowflake is a cloud computing-based date warehousing company. 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. We'll do something good with it. Real-time trigger alerts. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. And that's a whole different deal. We're not trying to find fault with people or who did what to whom. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. 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." 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. Were not a growth-at-all-costs company., Heartbroken dad issues warning after son, 13, dies in TikTok challenge, Red flag after possible suspect in missing brothers case made eerie request, Two dead and four injured after 19-year-old 'opens fire at prom after party', $80k reward offered for shooting suspect Francisco Oropesa after five killed, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, 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. AMP IT UP empowers executives, entrepreneurs, founders, managers, and leaders of all kinds, to unleash the growth potential of a company, and scale it to new heights with urgency and intensity. The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. And by the way, data platforms have been extremely fragmented historically. According to Forbes, the tech CEO has amassed a $2.1billion net worth. Snowflake's headquarters is in Bozeman, Montana, and was founded in 2012. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. Yeah, yeah. 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. 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? Start your free trial. WebSnowflake is a Montana-based cloud computing platform that deals with the design and development of data warehouse and analysis solutions for customers. 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. 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. At Data Domain, he built an intensity around clear business priorities and the customer value proposition and drove it through the organization daily. Bunkers is basically a silo that's incredibly hard to access. In other words, swarm to it instead of distance yourself from it. And I'm like, "You know what? This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. Bill McDermott, President and CEO, ServiceNow 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 [emailprotected] or tweet at us @icehousepodcast. To see all content on The Sun, please use the Site Map. It becomes the beating heart of a modern enterprise. In July 2017, two years before he took over as the chief executive of Snowflake, Frank Slootman raced 2,225 miles across the Pacific Ocean, from the Slootman urged Snowflake investors to be patient with stock during multiyear cloud transition. And that's our conversation for this week. Everybody has access to talent. 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. 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 was doubling. Snowflake went public in September ina record-breaking IPO, with shares closing that initial trading day at $253.93, however, the stock was below that level on May 26. And then of course, Michael Dell found just as attractive to bring EMC into Dell. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. 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 For other inquiries, Contact Us. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? Because, and this is another important observation, I think. Right? Frank Slootman Chairman & CEO. WebLinkedIn View on LinkedIn. I don't think about what's next. Thanks so much for joining us inside the Ice House. 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 use that expression a lot to say, "Look, data operations is going to become your core." And then, I had another internship after that. View Employees. You need to sort your issues into, "What am I going to focus on?" When you run companies, you need to narrow the plane of attack very, very quickly. Stories, Leadership & So in hindsight, I understood that I was just burned out, classic burned out. 700. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Things will change in ways you cannot even imagine the ideas that happen. That is how you energize companies. So, it's the story, what goes around, comes around, as I said at the beginning. Once you start doing that, you need to take yourself out of the game. Large cloud share company moves executive offices to Bozeman. 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? The three-time CEO and industry leader spearheaded the largest software IPO in history for Snowflake in 2020, previously led IPOs for both Data Domain and ServiceNow. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. Mike is a really good example of that because what he's really good at, I'm not, and I always use the, the analogy of he plays defense, I play offense. Right? I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 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. Those are really good conversation, good questions to have because each organization is different. Tell me about sailing, first of all. You really need to, look at yourself as an asset that can be applied in many, many different ways. 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. 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. I was a huge fan coming here. I was like, "Jesus, I spent my whole life trying to get here. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. It enables businesses to store and analyze data using cloud-based hardware and software. Mike Speiser, Managing Director, Sutter Hill Ventures, "What an incredible leader Frank is. That's the point of it. They want to know what good behavior is. Amp It Up is a recipe we can all apply. Make it as easy as I could make 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. Board, Speakers We now use consumption models instead of subscription models. Frank, you write about trying to convert your experience, taking on the hard problems of your employer, into making a path to the C-Suite. We're driving change. Read it now on the OReilly learning platform with a 10-day free trial. Snowflake shares are also down 16 percent year to date, as investors have rotated out of high-flying growth names into economically sensitive companies that stand to benefit from the Covid recovery. "Over the last 20 years I have been fortunate to watch Frank Slootman build a Hall Of Fame career. Invalid password or account does not exist. Snowflake Inc. was founded in July 2012 in San Mateo, California by three data warehousing experts: Benot Dageville, Thierry Cruanes and Marcin ukowski. Okay? We had this very high profile bidding war between the EMC and NetApp at that time. Hes an operations guru, the leader who turns a jet plane into a rocketship and makes piles of cash for investors, employees, and himself. Frank Slootman currently serves as Chairman and CEO at Snowflake. 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. Right? They're very safe. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." Slootman has also contributed money to political campaigns for both Gov. It was sort of an adjunct to what they called the computer industry back then. Because now you're buying somebody else's culture. A compensation package he received upon joining 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. 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 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.
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