NEW YORK (TheStreet) -- Marc Andreessen, co-founder and general partner of Andreessen Horowitz, fired back at hedge fund manager Carl Icahn, who recently blasted eBay (EBAY) and its board members for not spinning off its PayPal unit.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, pointed out that Andreessen, the creator of the old Netscape web browser, sits on the board of eBay as well as Facebook (FB) and Hewlett-Packard (HPQ).
Cramer agreed spinning off PayPal would indeed be good for shareholders, but Icahn's war of words -- which included calling into CNBC -- may not be the best way to get what he wants. It didn't help that Icahn questioned the integrity of some of the board members and past transactions with eBay, which angered Andreessen enough to prompt his own allegations against Icahn, Cramer said.
Silicon Valley is siding with eBay, Cramer noted. Reid Hoffman, co-founder of LinkedIn (LNKD), wrote a long letter defending eBay and its desire to hold on to PayPal, added CNBC's David Faber.- - Written by Bret Kenwell in Petoskey, Mich.