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. Yeah, it was a good problem. Frank Slootman - Narrow the Focus, Increase the Quality - [In And the term BI had not even been invented back then. But if you're performing at Tom Brady's level, you have no reason to step aside. 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. So, the earlier you show up, the better off you are. They're very safe. You've said that you were really born in the wrong country. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. He said, "Because you guys are indicting everything I've done." Now, most organizations are incredibly in up still in terms of their data promise. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . Take our own company, Intercontinental Exchange, for example. That's really what you want to preserve rather than layers and layers and layers and channels of communication. 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. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. Others might say that hes completely brash. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. But the essence of what I'm getting when I hire you is what you're innately good at. Now, what that does the weaponizing, what that does is we block everything else out. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. Check out the subtleties of his Wikipedia below. I can't get you aptitude. BUILDINGS. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. If you want to know more about this CEO, this might be the book to read. 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. And the product was insanely fast, completely automated. Welcome, Frank, inside the Ice House. That's where we're at right now. Snowflake now has Frank Slootman as chairman and CEO. For example, he made a few changes at Snowflake when he became CEO. At 61 years old, Slootman has created quite the reputation for himself. You arrived at something like tape sucks. 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, they had graphical user interfaces that were completely proprietary to that company. Everybody has ideas. But he had also been the CEO of ServiceNow for seven years. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. When you get that sensation, you do need to leave because you're no longer the right person for that situation. They're very lonely in their jobs. I'm on the phone with customers every day. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. I was just shot. In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined the company as CFO. But they do because the world is changing to digital and this is the essence of digital transformation. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? So in hindsight, I understood that I was just burned out, classic burned out. And when you buy companies, it gets worse, right? Yacht Racing is incredibly exciting and then it has a lot of corollaries to business because it's this multidimensional game of weather and competition, and what happens on the race course and reacting to it. 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. And then, I had another internship after that. And everybody was like, "Who's Data Domain? He published a book in 2011 called Tape Sucks. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. 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. What's your advice about someone climbing the corporate ladder looking to make that leap? 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. And Brett Favre was that way. 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. I'm the opposite. But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. But you dont achieve a $1.8 billion net worth by being a spendthrift. Frank, how did those early experiences rising through the ranks and being sent from problem to problem help you establish the principles for success that your career would see? And it's just, it's intoxicating that energy. It was very formative. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. If you like what you heard, please rate us on iTunes, so other folks know where to find us. There's no doubt, I'm a total hybrid here. But in the end, it's like we have to get into backup software in which we tried. 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. 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? 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. It's lights out, light speed and then fully disintermediated and it's fully programmatic. As we're recording this in early 2022, the competition for talent has reached a boiling point. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. 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. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. And, how do you design single best data operations platform you possibly can?". Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". 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. We played a round of golf. Well, that's another thing I don't think about that. Why did you give up the helm of the invisible hand for this new role with Snowflake? And by the way, for most people, that's a very difficult question. 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. 2023 Forbes Media LLC. Not all people are created equal in terms of their roles and their contributions in companies. When we first came in there, it was a very, very anxiety-ridden ride in the early days. We cannot just read our emails and have a few phone conversations and know what's going on. Early days of ServiceNow was just jungle fighting. Login - Ashima So, we started to wind down a little bit. JP Morgan paid $175 million for a startup it believes it was conned into buying. We were entertainment for Wall Street for a six-week period. Read More 10 Things You Didnt Know About Paul StovellContinue. And you can take it or leave it and try it on for size and see if you like it." 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. 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. They want to know what good behavior is. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC 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, all these greats, right? They also appreciate it. It's just our nature to talk about problems." So, this is not data warehousing, it's just one use case. Here's why this makes sense while looking at some options. How Snowflake CEO Frank Slootman became a billionaire by ripping up the