Happy hump day!
Jim Cramer weighs in on Larry Page stepping down from his CEO role at Alphabet (GOOGL) - Get Alphabet Inc. Report, how Salesforce (CRM) - Get Salesforce Inc. Report co-CEO Marc Benioff has connected with customers in a way that Facebook (FB) - Get Meta Platforms Inc. Report CEO Mark Zuckerberg dreams about and the Friday jobs report.
Larry Page Steps Down
After the bell Tuesday, it was announced that co-founders Larry Page and Sergey Brin were both stepping down from their roles at Google parent company, Alphabet.
Replacing Page in his CEO role will be Sundar Pichai, who is also the CEO of Google.
"We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President. Going forward, Sundar will be the CEO of both Google and Alphabet. He will be the executive responsible and accountable for leading Google, and managing Alphabet's investment in our portfolio of Other Bets," said Page and Brin in a statement.
So, will the era of innovation under Page end when Pichai takes the reins?
Let's Talk About Salesforce and Facebook
Cramer wrote about Salesforce and its attempt to seek the truth in his Real Money column on Wednesday morning.
"Which is a better business model, being a single source of truth for customers or being the world's biggest source of lies for those who don't know better? Do you want to affiliate with a culture that is offering a product that makes customers trust your organization with all of their data? Or do you want to be the world's biggest propaganda machine for lies -- and believe that, somehow, by looking the other way, via convenient, albeit disingenuous alibis, you are doing the right thing for society, for your users themselves and most important, profits for shareholders," wrote Cramer.
"No, this is not some righteous homily on business and ethics, something in the ether of a debate class. It's a real-life, titanic struggle playing out right now between two forces of business nature: Mark Zuckerberg from Facebook and Marc Benioff from Salesforce.com -- and it's really about winning the hearts and minds of customers, shareholders and stakeholders," he continued.
How did Benioff win over the trust of his customers in a way that Zuckerberg can only dream of?