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Jim Cramer: How Robinhood Turned E*Trade Into a Dinosaur

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Jim Cramer wrote about E*Trade (ETFC) - Get Free Report and Robin Hood in his morning column over on Real Money.

"The fact that Robinhood was able to raise $912 million, the last tranche received at the end of October, at a $7.6 billion valuation, told you the writing was on the wall, something that may also be the case for E-Trade, which, despite its venerable status as one of the first e-brokers and its $4 in earnings power, has a less than $10 billion valuation. Exact numbers are hard to come by, but Robinhood is thought to have almost as many accounts as E-trade, even as E-Trade, born in 1982, is thirty-one years older than Robinhood," wrote Cramer.

Cramer said that Robinhood understands millennials. But does E*Trade?

Here's what he has to say. 

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