Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
In this Cloud Wars Minute, Bob reviews CEO Frank Slootman’s comments on Snowflake’s second-wave customers grappling with FOMO (fear of missing out).
00:31 — Snowflake’s CEO Frank Slootman has said that fear of missing out (FOMO) has broken out in the data cloud — a quote that illuminates what many companies feel today.
01:18 — Snowflake’s product revenue grew 67% in Q3. Slootman described the changing nature of Snowflake customers, categorizing them into two waves.
01:35 — The first wave of Snowflake customers are “early-edge, bleeding adopters” who live with data and work with it all the time. The second wave of Snowflake customers are afraid of missing out, unsure where to start, and are turning to Snowflake for guidance. Slootman specifically responded that the second wave of customers has a fear of missing out.
02:22 — Bob suggests that these second-wave customers would have taken some rudimentary steps to become more data-driven, but Slootman’s comments suggest otherwise.
02:42 — Slootman says this will require Snowflake to develop new tools, solutions, and approaches to this type of customer that is not as tech-savvy as the first wave.
03:05 — Companies may want to take a step back and categorize themselves within this conversation — are they bleeding-edge early adopters, or in the FOMO group?
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