According to Business Insider, data-storage company Snowflake filed an SEC 8-K on Monday after Chief Revenue Officer Mike Gannon appeared in a video with influencer James Dumoulin, who posts as “theschoolofhardknockz” on Instagram and TikTok. In the video filmed outside the New York Stock Exchange, Gannon stated Snowflake would exit the year with “just over $4.5 billion in revenue” and reach “$10 billion in a couple of years,” projections that exceeded the company’s official guidance by more than $100 million. The video had accumulated over 555,000 views on TikTok and nearly 138,000 likes on Instagram as of Wednesday afternoon, prompting Snowflake to file the 8-K filing clarifying that Gannon is “not a designated spokesperson authorized to disclose financial information” and investors “should not rely upon such statements.” This incident highlights the growing compliance challenges executives face in the social media era.
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The Regulatory Tightrope for Public Companies
This incident represents a textbook case of why public companies maintain strict communication protocols around financial projections. The SEC’s Regulation FD (Fair Disclosure) requires that when companies disclose material nonpublic information to securities market professionals or shareholders, they must do so broadly and non-selectively. While Gannon’s comments might seem like casual conversation, when made by a C-level executive to an influencer with 5.6 million TikTok followers, they cross into regulated territory. The immediate 8-K filing demonstrates Snowflake’s compliance team recognized the potential selective disclosure violation and moved quickly to correct the record. What’s particularly noteworthy is that Snowflake had already issued its official Q3 and fiscal year 2026 guidance in August, making Gannon’s optimistic projections even more problematic from a compliance standpoint.
The Unmanaged Risk of Executive Social Media Engagement
This incident reveals a significant gap in corporate governance that many technology companies haven’t adequately addressed. While most public companies have strict policies about earnings calls and official communications, they often underestimate the risks of executives engaging with social media content creators. The fact that Gannon admitted to watching Dumoulin’s content “all the time” suggests a familiarity that blurred professional boundaries. Companies like Snowflake typically focus their compliance training on traditional media interactions, but the informal nature of social media interviews creates a false sense of security. The location outside the NYSE added an unintended layer of credibility to what was essentially an informal conversation, making it appear more official than it actually was.
Broader Implications for Tech Executive Communications
This case will likely trigger compliance reviews across the technology sector, particularly among companies with younger leadership teams more comfortable with social media engagement. We can expect to see updated social media policies specifically addressing interactions with influencers and content creators. The incident also highlights the challenge of managing executive enthusiasm – while Gannon’s projections reflected genuine optimism about Snowflake’s growth trajectory, that enthusiasm must be channeled through proper disclosure channels. In an era where executive personal branding and social media presence are increasingly valued, companies must find ways to balance authentic engagement with regulatory compliance, potentially through pre-approved talking points or designated social media training for C-suite executives who choose to engage with digital creators.
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