 Good morning live from Las Vegas. Lisa Martin and Dave Vellante here covering Snowflake Summit 22. Dave It's great to be here in person. The keynote We just came from was standing room only in fact there was overflow people are excited to be back and to hear from the company In person the first time since the IPO lots of stuff lots of deep technical dives You know they took the high end of the pyramid and then dove down deep in the key notes It was good They did and we've got Doug Henshin with us to break this down in the next eight to ten minutes VP and principal analyst at Constellation Research Doug welcome to the Cube great to be here All right, so guys I was telling Dave as we were walking back from the keynote This was probably the most technical keynote I've seen in a very long time obviously in person Let's break down some of the key announcements What were some of the things Dave that stood out to you and what they announced just in the last hour and a half alone? Well, you know we had to leave before they did it But the unistore piece was really interesting to me because you know the big criticism is a snowflake that don't do transaction data It's just a data warehouse and now they're sort of reaching out. We're seeing the evolution of the ecosystem Sloopman said it was by design. It was one of the questions I had for them Is this just kind of happen or is it by design? So that's one of many things that that we can unpack. I mean the security workload the The Apache tables we were just talking about that tug which not a lot of hands went up when they said who uses Apache tables But but a lot of the things they're doing seem to me Anyway to be trying to counteract the narrative that snow I mean that Databricks has put out there about you guys aren't open You're a walled garden and now they're saying hey, we're we're as open as anybody, but what are your thoughts Doug? Well, that's the the iceberg announcement also The announcement of unistore being able to reach out to to any source You know, I think the big theme here was this this contrast you constantly see with snowflake between their effort to democratize and simplify and disrupt the market by bringing in a great big tent And you saw that great big tent here today 7,000 people 2,000 7,000 plus I'm told 2,000 just three years ago. So this company is growing Hugely quickly unprecedented. Yeah fastest company to a billion in revenue as Frank Slutman said in his keynote today You know, and I think that there's there's that great big tent and then there's the innovations They're delivering and a lot of their announcements are way ahead of the general availability a lot of things They talked about today python support and some other aspects They're just getting into a public preview and many of the things that they're announcing today are in private preview So it could be six twelve months before they're generally available. So they're here educating a lot of these customers What is iceberg, you know, they're letting them know about hey, we're not just the data warehouse We're not just letting you migrate your old workloads into the cloud We're helping you innovate with things like the data marketplace I see the data marketplace is really crucial to a lot of the announcements. They're making today particularly the native apps You know, it's interesting Slutman and his keynote said we don't use the term data mesh because that means has meaning to the people I know the lady from Geico stood up and said we're building a data machine when you think about, you know, the Jamak to Ghani's definition of data mesh Snowflakes actually ticking a lot of boxes. I mean, it's it's is it a decentralized architecture You could argue that it's sort of their own wall garden, but things like data as product We heard about building data products Self-serve infrastructure a computational governance automated governance. Those are all principles of Jamak's Data mesh, so there's closest anybody that I've seen with the exception of it's all in the data cloud Why do you think he was very particular in saying we're not going to call it a data mesh? I think he's respecting the Principles that have been put forth by the data mesh community generally and specifically Jamak to Ghani And they don't want to you know, they don't want a data mesh wash. I mean, I I think that's a good call Yeah, that's it's a little bit out there and and it they didn't talk about data mesh so much as Geico the keynoter Mentioned their building one. So again, they have this mix of the great big tent of customers and then very forward-looking very sophisticated customers and that's who they're speaking to with some of these announcements like the native apps and the Unistore to bring transactional data bring more data in and innovate create new apps And the key to the apps is that they're made available through the marketplace things like data sharing That's pretty simple a lot of their competitors are talking about hey We can data share, but they don't have the things that make it easy Like the way to distribute the data the way to monetize the data so now they're looking forward monetizing apps They changed the name from the data marketplace to the to the snowflake Marketplace so it'll be apps. It will be data. It'll be all sorts of innovative products I did you when we talk about Geico a JPMC is speaking at this conference and the lead technical person of their data mesh initiative So it's like they're some of their customers that they're putting forth So it's kind of interesting and then Doug something else that you and I have talked about on some of the panels that we've done Is you've got an application development stack you got the database over there and then you have the data analytics stack and we've said will those things come together then people have said yeah They have to and this is what snowflake seems to be driving towards well with Unistore They're reaching out and trying to bring transactional data in hey Don't limit this to analytical information and there's other ways to do that like CDC and streaming But they're very closely tying that again to that marketplace with the idea of Bring your data over here and you can monetize it. Don't just leave it in that transactional database So another reach to a broader play Across a big community that they're building different than what we saw last week at mongo Different than what you know oracle does with heat wave a lot of ways to skin a cat That was going to be my next question to both of you is talk to me about all of the announcements that we saw And like we said we didn't actually get to see the entire keynote had to come back here Where are they from a differentiation perspective in terms of the competitive market? You mentioned a lot of the announcements in either private preview or soon to be public preview early Talk to me about your thoughts where they are from a competitive standpoint. Again, it's that dichotomy between They're very forward-looking announcements. They're just coming on with things like python support That's just becoming generally available. They're just introducing A machine learning algorithms like time series built into the database so in some ways they're catching up while Painting this vision of future capabilities and talking about things that are in development or in private preview That won't be here for a year or two, but they're so they're out there Talking about a bleeding edge story yet. The reality is the products sometimes are lagging behind. That's interesting I mean there a lot of companies choose not to announce anything until it's ready to ship Typically that's a technique used by the big whales to try to freeze the market But I think it's different here in the strategy is to educate customers on what's possible Because snowflake really does have you know, they're trying to differentiate from hey, we're not just a data warehouse We have a highly differentiable strategy from whether it's oracle or certainly, you know, mongo is more transactional But but you know, whether it's couch base or redis or all the other databases out there. They're saying we're not a database And we're a data cloud All right, okay. What is that? Well, look at all the things that you can do with the data cloud But to me the most interesting is you can actually build data products and you can monetize that and they're the emphasis on ecosystem You look at sleutman's previous company would service now took a long time for them to build an ecosystem There was a lot of s i's and smaller s i's and they finally kind of took off But this is exceeding my expectations and ecosystem is critical because they can't do it all You know, they're going to otherwise they're going to spread themselves to that's what I think some competitors Just don't get about snowflake They don't get that it's all about the community about their network that they're building and the relationships between these Customers and that they're facilitating that with distribution with monetization things that are hard So you can't just add sharing or you can share data from one of their legacy competitors In in somebody else's marketplace that doesn't facilitate the transaction that doesn't you know build on the community Well, and you know one of the criticisms two of the criticisms on snowflake is they don't you know, they can't do Complex joins they don't do workload management And I think their answer to that is well, we're going to look to the ecosystem to do that or you saw you saw some kind of Cost governance today in the in the keynote. We're going to help you optimize your spend Little different than workload management, but related part of their governance was having a node For every workload so workload isolation in that way, but that led to the cost problems, you know, like too many nodes with Not enough optimization. So here too. You saw a lot of announcements around cost controls budgets new features user groups that you could bring Caps and guardrails around those costs in the last couple minutes guys talk about their momentum Frank Slutman showed a slide Today that showed over 5900 customers. I was looking at some stats In the last couple of days that showed that there is an over 1200 increase in the number of customers with a million plus ARR Talk about their momentum what you expect to see here a lot of people here people are ready to hear what they're doing in person Well, I think there's the stats say at all fastest company to to a billion in revenue You see the land and expand experience that many companies have And in the cost control Announcements they were making They showed the typical curve like and he talked about it being a roller coaster and we want to help you level that out So that's a matter of maturation That's one of the downsides of this rapid growth, you know, you have customers Adding new users adding new clusters multi clusters and the costs get out of control They want to help customers even that out with reporting With these budget and cost control measures. So One of the growing pains that comes with Adding so many customers so quickly and those customers adding so many users and new workloads quickly I know we got a break but last point i'll make about the kiva keynote is Slupin alluded to the fact that they're not taking the foot off the gas They don't see any reason to despite the narrative and the press they have inherent profitability If they wanted to be more profitable they could be but they're going for growth Going for growth. There is so much to unpack in the next three days You won't want to miss it that keeps wall to all coverage lisa martin for davilante dug henshin joined us in our keynote analysis Thanks so much for walking watching stick around. Our first guest is up in just a few minutes