Jim Cramer Attacks Google and Apple
by Muhammad on May 22, 2008
in Uncategorized
Jim Cramer, the web entrepreneur and star of his own TV Show “Mad Money” on MSNBC (you might remember him from the part he played in Iron Man), recently told The Hollywood Reporter that he hates media stocks, maybe not all of them, but he hits on two media companies in particular…
“The world got changed by two companies,” he says. “Apple is taking away the profitability of TV, and Google is taking it away in print. And it’s never going to reverse.”
In the near term, Google is the bigger villain.
“It’s just a parasite,” he says. “It doesn’t create content, it steals it, borrows it, shares it.”
What he says does have some weight… recently both New York Times and the publishing company Gannet, both reported shortfalls in revenue and I’m sure other media are feeling the pinch too.
Technorati Tags: Apple, Google, Media, Jim Cramer
Wow, that is so lame its not even funny. Who’s fault is it they are taking revenue? Surely not Google/ Apple… They innovated shame on the newspapers and broadcasters for not keeping up.
I agree Ismail, information and knowledge needs to be shared. James is just talking from a money-making/profitability point of view.