Into the Cramerverse
The Metaverse explained, in four minutes.
In this side-splittingly hilarious — and actually quite spot-on — take on Silicon Valley’s latest tech trend, Jim Cramer and the intrepid crew of Squawk on the Street demystify the Metaverse for the masses.
Check out the video.
Now here’s the transcript*. Enjoy.
David Faber (00:00)
Blow out numbers! These numbers that we’ve seen from the largest companies in our country in terms of the top line growth are so dramatic.
Jim Cramer (00:07).
You know, it shouldn’t be, down. You know, it shouldn’t be down. That’s David, when it’s Winter just saying things that are like, you know, just saying, listen, things are going to be terrible after, he always says that. You have to go to the Unity conference call first quarter, which really explains what the Metaverse is, which is the idea that you you’re you’re, you’re looking at basically you can be in Oculus, whatever. And you say, I like the way that person looks in that shirt. I want to order that shirt and it’s or ultimately it’s an NVIDIA uh, based on NVIDIA. And when I was out at NVIDIA with Jensen Huang, what happens? You could, it’s conceivable. Okay. David, listen to me. Cause this is important.
DF (00:38)
I’m reading what the Zuckerberg had to say about it —
JC (00:41)
— he didn’t tell you nothing… no, he didn’t!
DF (00:43)
— “a persistent synchronous environment where we can be together, which I think is probably going to resemble some kind of a hybrid between the social platforms we’ve seen today, but an environment where you’re embodied in it.” That tells me what it is: it’s The Holodeck.
JC (00:56)
It IS a hologram. It’s like the idea —
DF (00:58)
— it’s like Star Trek —
JC (01:00)
— ultimately, you could go into a room, let’s say you’re alone and you’re a little lonely, okay? And you like classical music, but you go into the room and you say to the first person you see, “Do you think that you like to do you like the Mozart, you know, the Haffner?” And then the second person says, “Before you listen to Haffner, have you listened to Beethoven’s ninth?” Let me tell you, these people don’t exist. Okay?
DF (01:20)
— Understood.
JC (01:21)
THAT’S the Metaverse.
DF (01:23)
— or maybe you can even talk to them.
JC (01:24)
No, they interact with you!
DF (01:25)
Well, how about Mozart? Can you bring him back? Or what if you like Stravinsky and you want to know what it was like at that first concert?
JC (01:31)
Yes! It’s the Rite of Spring. Now I know this is a little scary for people. And the, the typical way is to be able to sell something. Like what I said with, with, uh, Unity, where you’re looking at, what people are walking and you’re looking at how people look and you’re saying, you know what? I, and then you imagine yourself with it and you say, I went, you know, that’s what size is that? And then you weren’t, you press, you order.
DF (01:52)
But you could also recreate the entire workplace. Couldn’t you? I mean, this is like the 10th iteration of Zoom.
JC (01:58)
This is the — look. Some, some people will think, this is The Terminator.
Carl Quintanilla (02:02)
Yeah. Well, and fold into that. Uh, self-driving mobility, AI, see, Musk has already announced the Tesla AI day for August. And it is, it’s Minority Report.
JC (02:13)
Well, it IS Minority Report. Um, you know what you, okay. I just want to get this people know, cause Unity is really involved, as is Roblox. Um, when I see a model in the scene, walking, turning in my direction, that model is ME wearing this shirt and I can invite my family to the same environment and help me decide whether I want that shirt. There you go. Metaverse. That’s a smaller Metaverse, the one that, that Jensen wants and they are again mentioned —
DF (02:40)
— Jensen Huang of NVIDIA —
JC (02:42)
— is much more of, you walk in and you like Shakespeare. Okay. And you really liked that, in King Henry the Fourth, you liked the speech about the, you know, the we’ve loaned, you know, we’d pray. We million back in Europe, the people who stayed back there,
DF (02:57)
I like to brush up on my Shakespeare. Yeah.
CQ (02:59)
— start quoting him now —
JM (03:00)
But I’m just saying that you can have a discussion about Shakespeare with several people. And you know, you do the person who left does the comedies, the person to the right does the histories in front of you, does the tragedies and you kick it around.
DF (03:16)
Before we end this conversation in terms of the stock price, that’s performance. No, we’re going to talk a lot about the Metaverse for years to come the same way we’ve been talking about —
JC (03:23)
— I told you, Zuckerberg’s a genius.
DF (03:25)
— autonomous cars, they still aren’t here by the way, talking about them.
JC (03:28)
Zuckerberg’s a genius. When you meet Zuckerberg, he’s actually quite regular!
DF (03:33)
Is he really? When he’s out on the, with that hover board with his flag?
JC (03:38)
When you say, “How ya doing? I need a La Croix!” He says, “Okay, coming up.”
DF (03:43)
Specific to the stock performance guys, you know, they, uh, Jim, they did provide a two year growth rate. And then they said, there’d be a slight deceleration analysts seem to be taking that and, or investors perhaps a bit harder than they should, should, or not?
JC (03:54)
Or, or make that bit harder than they should. I find it or not. Look when Winters says, like they parse it. It’s like Winters always said that there’s deceleration. Now. He says there’s serious deceleration. Well, wait a second. That means things are really bit, no, he’s just totally, you know, look just, don’t be hype oriented. There’s a fantastic quarter.
DF (04:12)
Oh my God. These numbers across the board, 36% revenue growth for Apple, 57% revenue growth for Google 21% from Microsoft 56% for Facebook. Yeah. I’ve never seen anything like this.
JC (04:21)
That’s what happens when YOU make up the content for THEM.
* Tip of the hat to Mark Pesce for the audio grab. Transcript heavy lifting by Rev automated service.
