This Week in Startups Snowflake CEO Frank Slootman: victory through taking ownership, increasing velocity & cultivating talent | E1362
Frank is the Chairman & CEO of Snowflake, a data warehousing company he joined and rapidly accelerated in 2019. Frank led Snowflake to the largest software IPO in history (his third massive IPO as CEO). Previously, he grew Data Domain from $0 in revenue in 2003 to a ~$776M IPO in 2007 and then grew ServiceNow to a $22B market cap. In this episode you will learn the principles Frank uses to achieve outlier outcomes.
- Attracting and cultivating performing talent. Getting the wrong people off the bus fast is critical. Frank prefers "drivers" to "passengers."
- Without risk-taking, the business will stagnate. Left to their own devices things slow to a "glacial pace." CEOs should push to find the true limits of the organization.
- Intellectual honesty is required. Copy-pasting strategy from previous roles is unacceptable. You need to develop deep conviction, while maintaining humility to course correct when you are wrong.
- Culture and reputation are defined by your actions. CEOs must maintain an incredibly high bar.
Show Notes:
(00:00) Jason intros the interview
(01:44) Why Frank decided to write the book (order here: https://ampitupbook.com/)
(05:30) Why "all great products start with great architecture"
(09:49) Intellectual honesty is integral to diagnosing problems
(11:38) Marketerhire - Get $500 off your first hire at https://MarketerHire.com/twist
(13:09) Taking over and increasing the talent density on a team
(15:54) Why most organizations avoid confronting and correcting mistakes
(23:23) Fellow - Sign up and get $1000 in credits at https://fellow.app/twist
(24:50) Managing intensity
(25:39) How hiring top talent leads to victory (the definition of victory is breaking the enemy's will to fight)
(28:19) Relationships and reputations are defined in the hard times by taking ownership
(31:47) Taking risks is essential to success in business
(32:53) Keep high standards, people pitching need to be bursting with excitement
(35:42) FanDuel Sportsbook - Sign up with promo code TWIST to place a special $1000 risk-free bet at https://fanduel.com
(37:32) Drivers vs. passengers, getting the right people on the bus
(40:38) Organizations should be governed on influence, people need to go direct
(43:30) Why Frank is still optimistic about America and entrepreneurship
(48:39) Things cannot be all about you as CEO, the organization needs to be empowered to be accountable
(51:22) The difference between people that start things and the people that run things
(54:17) Intellectual honesty is the bedrock of being a great operator
(57:37) Increasing velocity by narrowing scope
(1:00:55) Being mission-driven by "Starting with Why"
(1:02:34) Most people don't lean in enough when managing the growth model of the business
(1:06:57) Setting big goals
(1:07:53) Ubiquitous win-win deals are not possible
Buy Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity: https://ampitupbook.com/
FOLLOW Frank: https://www.linkedin.com/in/frankslootman/
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood