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Jim Cramer Rips Into Evan Spiegel: 'He Needs To Be Hazed'

Jim Cramer Rips Into Evan Spiegel: 'He Needs To Be Hazed'

Evan Spiegel, co-founder and CEO of Snap Inc (NYSE: SNAP) is earning himself a reputation as being "arrogant."

During Snap's post-earnings conference call with analysts, BTIG's Richard Greenfield asked Spiegel a direct but valid question: "Does Facebook Inc (NASDAQ: FB) scare you, why or why not?"

Spiegel's answere at first focused on Facebook's recent additions to its platforms, especially with its camera, which are similar to those that Snap already offered its users.

"I think we really help people understand how valuable the camera is, because it's really the center of everything that we do," Spiegel said. "And I think, at the end of the day, just because Yahoo, for example, has a search box, it doesn't mean they are Google."

In other words, Facebook's camera features makes it more of a Yahoo-like company and less like a Google.

Cramer Rips Spiegel

While Fortune suggested Spiegel's comparison of Facebook to Yahoo is "trolling," CNBC's Jim Cramer thinks it's a sign of arrogance.

Cramer's advice for Spiegel is simple yet harsh for a leader of the company. He thinks that when Snap hosts its next conference call in four months, Spiegel needs to introduce the call and then "back off and let your CFO talk."

Cramer also wants to Spiegel to say very loud and clear: "I did not do the job I [would have] liked to, I'm going to work harder." As if it needs to be emphasized, Cramer said under no circumstance whatsoever should he relate Facebook to Yahoo.

"I'm against hazing. I think hazing is dangerous - hazing in college," Cramer said. "But Evan Spiegel, he needs to be hazed. He needs to be hazed like I've never seen. You've got to put him through some sort of gauntlet because this guy is so arrogant."

See Also:

Snap's Decline Post-Initial Earnings Print Offers A Compelling Entry; Oppenheimer Upgrades

Snap's First Print Ushers In A Cantor Upgrade, Decreased Target; DAU Figures Remain Paramount

Image: TechCrunch, Flickr

Posted-In: CNBC Evan Spiegel SNAP Snap EarningsEarnings News Tech Media Best of Benzinga


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