Is tech in trouble, have the stocks gotten too expensive . Do we need to worry about what happens with the group if President Trump cant find Common Ground with president xi and with the market at lofty levels, the s p back slid and the nasdaq gained 2. 4 its something that Money Managers will talking about it was cleverly titled changes and the big takeaway was it was time to lighten up on my Favorite Group which is technology their thesis theyre worried about it shifting to the tech war, American Companies only buying from nonchinese suppliers and you have the strong dollar to worry about with tech rallying you have a crowd of weak headed investors who head for the hills at the first sign of trouble. We heard some discouraging things in technology look, just last week, cisco it gave a downbeat forecast for the reasons that bank of america and merrill cited. Even though it represents a good balance sheet, some okay growth, investors are soured on it especially some of the big guys because robbins and kelly kramer told a grim story about the future however, i would be a mistake to give up on the whole tech sector first and most importantly theres no tech in tech. Listen to me, when i got into the business decades ago there wasnt much tech at all. You had some semiconductor companies, ibm, and five others. This was back when the mainframe was still king by the mid 80s, the explosion of Information Technology companies and the enablers all were worth owning and then we got the internet boom. Suddenly, tech stocks werent in the tech business. Something thats only become more pronounced over time. These days the whole idea of the tech sector itself i find it misleading for instance we have square on tonight. Thats Payment Processing plant that helps to make businesses competitive with larger ones we had levi on last night, they designed new tech to make more personalized jeans without a lot of despoilage in the world shopify, it makes it possible for small operators to sell things on the web. Retail or tech what about Something Like twitter . Or apple video games and thats chockfull with the most sophisticated chips that we have is that immediate business or tech how about the hardware that powers it. Is tech still tech if its in the living room, the kitchen the bedroom . Where do we categorize the software as a Service Place like service now which was just added to the s p 500 and vaulted big or adobe which went to the ecommerce juggernaut or yes, the company thats the reason why were out here salesforce. Com i mean, salesforce. Com practically invented the industry with their Software Platform i dont know if we would have called that tech a few years ago. You have got billions and billions of dollars of Software Sales that i dont think could be contained by the rubric tech. Not like the ones that youre supposed to sell when i think of that piece, when i think of the things theyre worried about they may apply to hardware specialized hardware but they dont have much to do with the software as a service base Something Like salesforce isnt driven by International Trade but driven by the own indispensability indispensability that need to digitize or die. Indispensability is the driving force, not miniaturization but making it so that you can compute and trade in a way that makes it so you can stay alive as a business. Sure, the stocks will get hit if President Trump said im sick and tired of president xi and im taking chinese tariffs up 30 in two weeks because he wont buy pork to keep his people fed end quote that sounds like a tweet he would make in fact the stocks would be the first to go down because the algorithms were so ruled by sell them on any trade worries but after that their stocks tend to come bouncing back with alacrity this mornings kohls that mistakenly owned a position reported a massively disappointing quarter. To listen to management youd think they were having a blowout but they were congratulating themselves which is a head scratcher, which is something not do if youre having spray painted hair put on i think kohl has gone full jean paul sart. And the only ones who dominate are ones who dominate in the off price space. Kohls, kss, kiss me stupid, it does neither it has to become the lowest cost seller or it has to spend fortunes to develop a Digital Strategy thats good enough to compete with walmart or target or amazon and i dont think they think they need to after listening to the call i dont think its possible because management is in total denial about how much it needs to spend on tech before it can get in the game they think theyre doing great when youre doing great and youre not, well, thats how your stock gets thats how it goes down 20 . Like it did today. But the lesson here is simple. If you want to stay competitive in retail you need to pay the software as a Service Companies a fortune. Yeah, write them big checks thats why i rebel against the idea you need to lighten up on tech come on, the tariffs will hurt no indispensability how about microsoft and intel and apple, worry about those, microsoft remains omnipresent. But they have diversified away from the plain old pc business that i cant imagine their numbers being hurt by china. Azure is king there. And trade will be an issue with apple because they cant afford to turn their backs on roughly 1. 5 billion people in china, but apples managed to thread the needle because they have created millions of millions of jobs in both countries and it has the confidence of both leaders in short they may be able to transcend the whole conflict wow. Hats off to tim cook oh, lets not forget about the rest of faang, these companies have no chinese exposure and you have nothing and you have nothing to lose. Thank you, bob dylan heres the bottom line if you feel compelled to sell tech, ask yourself what youre selling if youre dumping in etf, be my guest. Those are just moronic amounts of stocks slapped together by people who make a living by convincing you that the tech sector is a cohesive thing but if you dump open the tech stocks that are working here i think youll make a big mistake and one youll regret when the trade war eventually blows over and it will. Wes in north carolina, wes caller hi, jim, love what you do. Thank you caller my stock is snap and the stock is up 9 recently and on top of some fairly decent gains. What are your near term versus long term thoughts i think it is what i regard as kind of scarcely problem. Not enough snaps out there you immediate to reach that demographic. They have got that demographic speaking of younger people and thats why the franchise is worth a lot. I wish they didnt have i wish they didnt have a class of stock, that made it so you cant take it over because boy, they sure should be dont give up on the whole of tech here. If youre compelled to sell, ask yourself what are you have selling . But please dont dump the kind of tech working out here in San Francisco that we have been profiling for you. On mad money, cnbc, Warren Buffett is betting on Restoration Hardware should you do the same . And then sales force has grown up to more than 170,000 in a pilgrimage to San Francisco. What tech trends can b uncovered from the clouds biggest conference, i have the exclusive with coceo, marc benio benioff. Is it primetime to buy nvidia well talk to the ceo. Announcer dont miss a second of mad money. Follow jimcramer on twitter have a question . Tweet cramer, madtweets send jim an email to madmoney cnbc. Com or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. But in my mind im still 25. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. Osteo biflex now in triple strength plus magnesium. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. One of the hottest stocks in the last six months isnt a Technology Company its retailer although i hate using that word when it comes to this company because theyre so much more than that. Im talking about rh, the high end furniture chain. I have been a big fan of this as is unfortunately for my bank roll, my wife and i found out that Warren Buffett is too as Berkshire Hathaway disclosed a 6. 5 stake in the company. They pulled back about 2. 9 could be this your moment to buy . Lets check in with Gary Friedman welcome back to mad money. Good to be here. Isnt it a thrill when you hear that Warren Buffett took a big position oh, my gosh, when the oracle somehow finds your company and you know all of the companies in the world, we think we have done a lot of good work over the years. And, yeah, every now and then ill get reached out i never got so many people call or text me about an event ever in the history of my career. Its deserving because he likes to find companies that are unassailable and you built one. We believe were building one. Look, berkshire is one of those businesses that we i have talked about that we had greatly admired and we study and it was kind of three companies that we kind of model ourself after. Apple and Berkshire Hathaway and apple, were trying to build a kind of an integrated ecosystem of products, places, services and spaces that all kind of amplify and render our brand more valuable. And like lmdh were building a platform and luxury goods are the only places that its possible to make luxury margins. We believe were on a path to do that and like Berkshire Hathaway, you know, were building a business thats really capital efficient. Generates significant cash flow and is generating the industry leading returns. So somehow we showed up on the radar. We are just proud. Have you ever been to the Nebraska Furniture Mart which has unbelievable dollars per square foot. Of course i have been there we look at everybody if theyre a direct competitor or not, anybody with a level of success or something to learn from we walked the entire thing, yes. So this Conference Call did not include the fact that youre with buffett i would have loved it, but this is first time we had seen it i didnt know you had any association. If you studied his model you have learned a great deal about what hes done which is have really good prices but you also are not for the masses thats a little bit more of a mass outfit, right absolutely. And its the highest selling Furniture Store in the world. It is well, you have to learn from that absolutely. You spent a lot of time talking about china and not just the way that people are saying you have been saying last time we each other was in february at the unbelievable store and you said on air that you bought stock 50 made right then when you said it. Listen, were not the stock that people think it is or the company you think it is in terms of being a hostage to china. Thats not what you are. I mean, look, take a step back theres a major trade imbalance. Its important to correct that trade imbalance. Were funding chinas growth d and, you know, so we dont look at it i mean, look, theres always episodic things we have to deal with were taking the appropriate steps whether its sourcing some of off product outside of china. I think its going its going to all work out. You know, chinas still going to be a supplier to the u. S right. And, you know, look, they make some of the greatest product in the world as much as people want to joke around made in china, you know, almost every iphone is made in china. Its one of the best products in the world. So look, i think you you know, again, we try not to overreact to kind of what we believe are episodic kind of things that happen in the business that are outside of our control. You know, we react as we see necessary. But we take a long term view long term we think that china is part of the mix. I think at one point you say that trump is a master negotiator, you talked about the art of the deal. At no point do you say, hey, listen, its not that good for shareholders if we have high tariffs. You say, look, well do well regardless you do not plead like so many other retailers, you do not plead poverty. You do not say, wow, well, we cant pull it off you have to help us. Thats not your style. Look, everybody has to compete in any market condition. Look, at the end of the day, like i tell someone, look, no one talks about the incoming money thats coming into the United States from tariffs, right . We have, you know, the highest stock market we ever had ever. We had the lowest unemployment and the longest economic expansion in the United States of america. But you hate him or like him. Forget about whether you like trump or not i mean, i just look at kind of the results of whats happening in our economy and i think theres a lot of good things happening in our economy and i think long term, you know, some of the short term pain is worth the long term gain. One of the most Amazing Things is to hear about a whole continent that is waiting for rh i took a trip to milan you have a lot of things happening in your head about what can go next. Yeah. We have a completely new view of the world. I think its funny i joke around and i say, you know, sometimes were just dumb americans, right we built a business in america we see america its a big country. Tons of opportunities there. And this doesnt mean were going to lose a focus on america because we can because we can get to 5 million, maybe 6 billion now as we look at new target. Yeah. We look at the opportunity in north america, but when you really motor up and you see the whole world and you start looking at the math and whether its ldmh, guccis, the richmont group, roughly only 25 is in america because they didnt start in america so they have a global view so i said to our team, look, we have to motor up and have global view dont be the dumb americans that only see america and now, now we have done the math and we have looked at it pretty clearly we think twothirds to threefourths of our business can be outside of america. If you do the math on that, hey, we can be 5 billion, 6 billion in america we could be a 20, 25 billion company. Thats only with the existing 25 billion that means theres a lot of runway. Tons of runway but only with the existing part of the ecosystem. When we start to articulate the bigger vision for rh and, you know, the integration of products, places, services and spaces which are starting to see with our interior design business, you will hear us talk about Landscape Architecture in a services platform. You know, well have i mean, i havent talked about it publicly yet but its gotten out there and the Real Estate Trust i hear youre opening a hotel in new york, no i say, what are you doing . I say, a guest house so the guest house will be the next part of the ecosystem. Which all intended to kind of elevate the rh brand and position us as thought leaders and taste makers as a design platform. Congratulations on the new big shareholder, most deserving for a person who changed the landscape. Thats Gary Friedman ceo of rh. I think youre getting another chance mad money is back after the break. Thanks. people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. Its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Cancer Treatment Centers of america. A former army medic, made of the we maflexibility to handle members like kate. Whatever monday has in store and tackle four things at once. So when her car got hit, she didnt worry. She simply filed a claim on her usaa app and said. I got this. Usaa insurance is made the way kate needs it easy. She can even pick her payment plan so its easy on her budget and her life. Usaa. What youre made of, were made for. Usaa people talking for every dollar you spend at a Small Business, an average of 67 cents stays local. Shop small and watch it add up. Small business saturday by American Express is november 30th. Every year i come out to San Francisco for Salesforces Dreamforce conference, to celebrate all the ways that the cloud is transforming business and your daily life. Salesforce got the groove back over the last few weeks and just as dreamforce was getting going, i got a chance to speak with man who made this possible im talking about marc benioff, chairman and founder and coceo of salesforce. Marc, 171,000 people, most ever. They come out here, why . All of the customers are participating in the salesforce economy. They have jobs in the economy. Theyre here to get trained, here to learn new things and here to get entertained and have a good time. You have often said that tech creates jobs, stop worrying about all of the jobs it takes away you actually have some numbers this time around is about what the salesforce does. Youre right, jim were creating a 1 trillion economy, you can already see that that is fully under way millions of jobs, millions of people who are participating in this salesforce ecosystem. And were absolutely 100 committed to making sure that everybody can join this new economy. Thats why we built trail head, so we can reskill and retrain and many of the people here have learned their skills online at trail head. Com thats why we built trail head so they can participate in this economy. People need to understand its not necessarily a trade show when i walked downstairs i saw a very beautiful exhibit for state farm thats a boring insurer but it had the cradle to grave approach to use insurance powered by you. There are 2,700 sessions here at dreamforce and i expect you to attend every single one of them and a huge trade show that shows what our customers and partners are doing with this technology, with this economy like you said. And with state farm, well, were providing that customer 360 degree experience for them that is the Salesforce Customer Success platform, helping them manage their sales, their service, their marketing, their commerce, their apps all of the integration of their data this is what were doing for state farm and for so many others around here. And to lets say plow through it and make some sense of it do we need einstein . Well, we definitely need einstein i think you just woke him up oh, there he is. Hey, einstein. Whats my forecast you can now talk directly to einstein kind of amazing. You woke him up by talking to him. Its a partnership with us and amazon we have built this amazing smart speaker, but the speaker is actually talking to the customer 360 so youre able to find out how is your forecast, how are you doing, what is doing on, its incredible. Whats 360 truth . Well, 360 truth is another amazing thing were introducing here that has been the holy grail of computing t Single Source of truth. We have had three amazing waves of computing systems of record. We have talked about that. Systems of engagement. Systems of intelligence including ai we have talked about that. And now were entering the fourth stage of computing the pursuit of Single Source of truth and we have built that into our platform. This is a Computer Science holy grail that we have been traying to put together for a long time. Okay. Now because we have acquired tableau, we are closer to providing for our customers the Single Source of truth for the customer information. Another side of truth which is the trail blazers side, the book side, how you feel now that everyone has invested equally into the concept of truth out here what makes people understand the importance of truth and other cases not think its important well, jim, we have talked about this also for years. Where but you know people say to me, your friend benioff he is talk about truth i have to get in on that im not kidding. You may have thought we were talking about it for years and david blaine who i bumped into with president obama not yet, but people are waking up to the idea that it matters. If you bought the stock in 2004, youd have a 25 run a great shareholder return but were also about stakeholders. All stakeholders which is why when we started the company 21 years ago we put 1 of the equity and profit and time into the charity or nonprofit it was easy because we had no equity, profit or time, but now we have been able to give away 400 million 4 million hours of volunteerism. We run 40,000 nonprofits for free on the system and we also are a net zero company. We have no carbon emissions. We also be fully renewable by 2025 because the planet is a key stakeholder. Do you think that investors, young investors want to check those boxes . They want that as much as they want earnings per share growth well, i think everybody wants that, jim. I think investors, i know you think about investors all the time and i think of all stakeholders my customers, my partners, my employees, investors the citizens of my city. Where i do business, all of them are my stakeholders. I hold them all in my heart. That is what i do as a ceo certainly as the ceo of the largest employer in San Francisco. Everyone is in my heart here including our homeless this is managing for all stakeholders, not just for all shareholders have you been able to convince some ceos who may have been on the other side of the truth issues to join the lighter side, leave the darker side . I dont want to say so and so is a cancer because we can conquer cancer are there some ceos we can conquer and bring over to the light side i think the most exciting thing that happened is the Business Roundtable which is the 200 ceos in the country just said theyre all about stakeholders and of course they have to adapt their Management Practices and manage in a whole new way. Thats a huge moment because Business Schools can modify their curriculum and teach not only how to manage for all shareholders, but for all stakeholders and thats why i wrote the new book trail blazers so like ceos like myself and many of my friends here at the show, like the ceo of state farm is here. Former ceo of the country is here. Former ceo of the country is here hes talking about empowering the youth. Thats so important. Wait a second, your stocks had a great run but as of late, your stock has been stalled so dont you think you should be more worried about that . Im focused on two things one is my customer success, making sure theyre successful thats why im looking into the hearts of every single customer here, theres nothing more important to the business and then the second thing so important to me is to make sure that i am managing exactly and saying what im doing. Managing for my shareholders and stakeholders and then im going to let the stock take care of itself for 21 years i need you to talk about one thing. The importance of trees. Well, you know, if we want to sequester carbon we know that we need more trees and i hope that well be able to come back with a Major Program here on the show to talk about how well get more carbon reduction i didnt want to leave without talking about we did have a good conversation about Carbon Sequestration its important. I want to thank marc benioff, mark, congratulations, 171,000 people. Welcome to dreamforce, jim. Happy youre here. Sundown vitamins are all nongmo, made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean. All the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. The amount of Student Loan Debt i have, im embarrassed to even say. We just decided we didnt want debt any longer. I didnt realize how easy investing could be. Im Picking Companies that i believe in. I think sofi money is amazing. Thank you sofi. Sofi thank you, we love you. Last week nvidia reported a pretty darn good quarter and since then the market is confused if you dealing with a graphics maker, a chips maker, a very special semiconductor thats transforming video game, Artificial Intelligence, you have to give them the benefit of the doubt for heavens sake. Dont take it from me. Lets dig deeper from jensen huang, to get a better read of the quarter and whats going on. Welcome back to mad money, jensen. Thank you, great to be here were taking this live for you at colorado from denver, colorado, super computing 19 well, jensen, everyone was enthralled when we saw you at the headquarters and people say, jim, its the latest and the greatest gpu, chip, but you dont explain in realtime how valuable it is, what people do with it and how mind blowing it can be so i said im going to go see jensen again and hes going to tell us. Youve got a great example of how mind blowing your technology is tell us about it. Well, we build Computer Technology that makes it possible for people to do things that otherwise is absolutely impossible what youre looking at behind me is a mars lander simulation with full fluid dynamics. You know, you know that well go to mars and by 2030 or so mid 2030 and the mars lander has to land in the atmosphere thats 0. 01 of the earth. It has to land with booster rockets instead of parachutes. What youre looking at behind me is a realtime visualization of the fluid dynamic simulation of the mars lander going through the atmosphere trying to stop from 12,000 Muriel Bowser down to Miles Per Hour down to six minutes and this is the same, about 25,000 movies being rendered at the at the same time. So pretty exciting. These are the kinds of things that you dream of that the rest of us cant. Another thing is inference you have something that does 25,000 movies at once, youre doing inference. Youre doing idiom you have got machines that actually understand the way we speak. How is that possible well, you know, were in the beginnings of the Artificial Intelligence revolution. Whats really amazing is this. We have computers that can learn by itself and write computer programs that no humans can write. These gigantic programs are programmed essentially on a computer that we build thats standing right next to me. These programs have achieved some amazing breakthroughs about 2012 or so Computer Vision was achieved and we can achieve super human levels, and as a result, selfdriving cars, robotics, amazingly beautiful photographs you can take with phones and now we have created the ability for computers to understand natural language understanding. The code of human knowledge. So this is a big gigantic break through. It will really change every industry that we know. Now, in the last few months since we have seen you, you have taken the video game business by storm again. This time with an iteration thats very much like what you just said, which is life like, which all of the companies that write programs are kind of just aghast this thing dropped and it seems to be as your great cfo said in a speech recently its snowballing. I know take 2 interactive confirmed it for before i came out. This became the Industry Standard overnight. Yeah, it took us the algorithm for what is called rate tracing was invented 35 years ago by one of the researchers and took until now to make it realtime. Last year we announced the nvidia rtx, a brandnew way of doing Computer Graphics where were simulating light rays as it bounces around the room and affects affected by the different materials reflecting and absorbed and as a result it looks photo realistic. This way of doing Computer Graphics is going to change the way we go Computer Graphics going forward. Were so incredibly excited that its been a home run every game developer, every design studio. Design applications, creative applications have adopted nvidia rtx. We can see the photo realistic rendering coming to video games and applications all over the world. Now, one of the things that i find difficult, jim, you like the stock of nvidia so much. And you like jensen so much. Yet, there they had a data center weakness, that i had a little bit of glitch because when it came to cryptocurrencies, can you explain to people if you think of the Company Every day it doesnt go anywhere, whereas two or three years from now you have stuff that nobody else has and thats the way we should be thinking about nvidia. Yeah, you know, last year at this time, we really enjoyed the perfect storm in our company our graphics business was affected our data business was affected and as a result we went into the slowdown a bit well, we came roaring back and in the last quarter we had a great quarter. The graphics business grew our notebook business grew Data Center Business grew because of Artificial Intelligence were looking at now one of the most powerful Technology Forces of all time. What we all call Artificial Intelligence where computers can learn and write software by itself this implication is enormous the ability to automate automation itself will have a tremendous impact in the computer industry but all of the industries we know whether its selfdriving cars or automated retail. Warehouses with logistics robots manufacturing robots that makes things and makes things more cost effectively industry after industry, health care, financial services, will be really it will be really revolutionized by Artificial Intelligence and made more productive we are in the beginning endings of it and nvidias processors is the engine of Artificial Intelligence and so im looking forward to years of expansion as we go from what we call deep learning into the cloud, into all of these applications in the edge and intelligent edge out to Autonomous Vehicles and robots and Service Drones around the world. Well, one last question i know that we talked about the edge and how valuable it would be for you to be able to merge with mel aknox with our without that, were fine, right . I dont want to tell people if this deal doesnt close that therefore nvidia will be handicapped. It would be a great thing to close but we cant pin we really cant just lets just say have hope that peace breaks out between china and us are you concerned at all well, were fine without melaknox and we have two great leaders in the space you should know that the discussions are going fine and the regulatory discussions are fine and we expected it to be closed by the end of the year. Looks like it will be about the beginning of next year still might get done by the end of this year but the thing thats really great is the combination of the two of us could innovate in the data center and create technologies but theyre world class in our fields and well be fine separately. Well be amazing together. All right terrific, congratulations on your success and the comeback is so terrific. Good to talk to you, jim. Thank you to jensen huang, founder, president and ceo of nvidia the stock is taking off because the company is taking off. Mad money is back after the break. But in my mind im still 25. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. Osteo biflex now in triple strength plus magnesium. Oh, there werent enough intehours in the day to maintain are old data center. So we made a twelve a fifteen. Three extra hours. But that really doesnt add hours to the day. Yeah it does, look. Im not sure it works that way, but at cdw we get that time is precious. So wed access your needs then design a nutanix enterprise cloud. To give you more time to grow your business. Yeah thats better. Hey we still on for lunch at 15 oclock . You bet. For private Cloud Solutions you need nutanix and it orchestration by cdw. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Announcer lightning round is sponsored by Td Ameritrade it is time. It is time for the lightning round. I tell you rapid fire so play this sound and then the lightning round is over are you ready, skeedaddy dave in virginia dave caller navy booyah okay. Let me tell you something, ford, we dont cure about the ev cars or the mustang but the dividend. Right now im saying be careful. Dale in california dale caller yeah, hello cramer. This is like yeah, this is like wildfire. I bought in january at 7, sold half at 40 bucks and now i bought another batch of five i have them at 750 my question is can Lightning Strike twice can i see 15 or 20 bucks for the second half from what i got . Well, for pg e i think youre playing too close to the best lightning struck once, i wouldnt stick around too long john in new york, john caller jim. Go ahead, john. Caller good evening, jim, how are you doing . Im doing well, how about you . Caller good. Good i wanted your perspective on a Company Called amron. Everyone loves this stock i love cardiovascular disease well, i dont love it. But theyre doing great things but im more conservative which is why i like novartis for that situation. Andrew in new jersey, andrew caller booyah, jim. Booyah at you caller brook field renewable partners this thing has been on fire i mean, literally and figuratively you can go further, but this thing has gotten very expensive. So therefore i cant push it hard andrew in new york, andrew caller hi, jim, i wanted to get your opinion on american tower. Buy american tower. I know the tower stocks have given up, but i think thats a mistake. It went down from 30 from the high own and thats the conclusion, ladies and gentlemen, of the lightning round announcer the lightning round is sponsored by Td Ameritrade to take care of yourself. But natures bounty has innovative ways to help you maintain balance and help keep you active and wellrested. Because hey, tomorrows coming up fast. Natures bounty. Because youre better off healthy. The amount of Student Loan Debt i have, im embarrassed to even say. We just decided we didnt want debt any longer. I didnt realize how easy investing could be. Im Picking Companies that i believe in. I think sofi money is amazing. Thank you sofi. Sofi thank you, we love you. While weve out here in San Francisco, i wanted to check in on square. The financial Technology Company thats become a battleground they have gotten into the habit of reporting better than expected numbers but disappointing the investors by leaving the Guidance Unchanged thats why i plunged below 06 in august i think they can make a comeback because the fundamentals are sound, especially after they sold their door delivery food business to doordash we spoke to the new ceo and her name is amrita ahuja take a look. Well, first, its very exciting to have you on because square is such an Exciting Company absolutely. Thank you so much for having me here, jim. Well, first, a lot of people think of you as the little over time you have become the most powerful small to medium sized business, ecosystem, engine that you have it didnt take you long. We have been around for ten years now and we have grown tremendously in the time were serving our customers. Our mission is Economic Empowerment and we build products and services and tools that help people participate in the economy. It started with payments and with the little white reader but we have now got over 20 products on the sellers side that help people start, run and grow their business including things like Square Capital that we can extend loans to businesses. Loyalty, marketing vertical points of sale. And a number of Different Services that help people grow their business and our mission is very aligned with our customers in that as they grow, we grow. I was getting some flowers for the office here. Downstairs, very nice woman. I said, oh, wow, are you using square, she said, why wouldnt i . You wouldnt get why wouldnt i five years ago its part of the firmament. Thats right. Our job is to make the products and the services seamless for our customers. So we take the work out of their hands. And integrating them and make it easy for them to on board new employees and easy for them to take on more of the work that they would be doing so they can grow their business. Now, you have got the most wildly fast growing i dont want to call it just an app. Its bigger than that. Square cash. The numbers here are extraordinary. Are they still growing the bay they have all year cash app is growing tremendously and just three years we went from no monetization to over 600 million in annual run rate from the revenue perspective and we in q3 we drew over 115 year over year. Its incredible. We have millions and millions of customers over 15 million monthly actives as of december of last year and we have grown since then cash app is a service that helps people manage their money. It helps them send, spend, save and store their money and now also invest were rolling out a new product just this week the velocity of product invention on this team has been incredible. Well, i want to talk to you about the access for stock for investing cash app a lot of the companies dont want to listen because they have katered to the big catered to the big firms. They want amazon, because they dont want to pay to cut currency per share is how you have to pay to buy stocks. The individuals they dont want to spend 1,700, they have to buy a fractural share. Thats right. Most households dont own equities because its hard to set up a brokerage account and because some of the most successful stocks are very expensive stocks. On a dollar amount. On a per share basis. The apples and amazons and googles of the world are in the hundreds of thousands of dollars and with cash app you can get started with as little as 1 and participate in the stock market. I know that people have said, jim, you used to have sarah fryer on the stock has stalled since she left, she works at next door we all love sarah. Shes great. I have seen the stock come back as of late. I went over what most of the analysts said, there was a perception that the quarter wasnt better than expected but it was a legitimate beat in raise. I dont think people realize that you actually once the Food Delivery Company dropped off you have accelerated revenue growth. In 2019 for the two large and thriving ecosystems cash and seller, we expect to do over 2 billion in adjusted revenue growing 46 year over year so these are large ecosystems and theyre growing at scale what the caviar transaction enables us to do is to increase our focus and increase our investment in the two ecosystems First Horizon where we are today is scaling these ecosystems, bringing more customers on board. More quality customers into our ecosystem. Seller and cash. The second is around optimizing the cross sell surfacing all of these other products that we can offer our customers. The third horizon is around connecting the two ecosystems. What are the things that we can uniquely do at square now that we see both sides of the counter . The buyer and the seller these are powerful and profound opportunities for us to explore in the comes years. Youre in a unique position to give me a sense of how the American Consumer is doing i know you move in international too, i dont mean to give that short shrift are we doing okay . From what we see, we see billions of signals on a daily basis on the seller business, obviously also see individuals and cash app and from what we see we see very steady signals, we see low loan loss rates steady loan loss rates across the seller and the capital business. Good news, because so many people are worried about the recession and when i listen to what youre doing i think the small and medium sized business is doing pretty darn good. Its true, but its the engine of the u. S. Economy. Thats right. And thats what we want to continue to serve. Thank you so much thats amrita ahuja. Shes squares cfo i have to tell you, i think square is terrific here in the 60s i think it should be bought. Stay with cramer hind schedule. But sophies enthusiasm cannot be dampened. Not even by a runaway donut. We powered through it in our toyota prius. Because a stars got to shine, no matter what. Its unbelievable what you can do in the prius. Toyota lets go places. Im a regular in my neighborhood. Im a regular at my local coffee shop and my local barber shop. When you shop small you help support your community from after School Programs to the arts so become a regular, more regularly. Because for every dollar you spend at a Small Business, an average of 67 cents stays in the community. Join me and American Express on Small Business saturday, november 30th, and see how shopping small adds up. Stand up if you are first generat crowd cheering ent. Stand up if youre a mother. If you are actively deployed, a veteran, or youre in a military family, please stand. The world in which we live equally distributes talent, but it doesnt equally distribute opportunity, and paths are not always the same. Im so proud of you dad. [man] i will tell you this, Southern New Hampshire university can change the whole trajectory of your life. uplifting music whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Didnt take much for everyone, one geez, one month period it wasnt so good, some people are tossing it out, i say wait three days and then buy home depot see what lowes says theres always a bull market somewhere and i promise to find it for you right here at mad money. Im jim cramer see you tomorrow welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. If they hear a great idea, theyll invest their own money or fight each other for a deal. This is shark tank. And we live in detroit, michigan. Eric and i met through venture for america. Which is a nonprofit that connects College Grads with startups in americas emerging cities. We put our heads together, and we realized we both have the same problem, and so did millions of other guys around the country, and thats when we started ash anvil. Service. I was born and raised in detroit, and i graduated high school in 2009. That year, the recession in detroit was at its peak, and the Auto Industry was at its worst