skew i like that in gld skbrks l zbl zblxle. >> and carter said to sell apple. wasn't expecting that. don't go anywhere. my mission is simple. i'm here to level the playing field for all investors. there's always a work somewhere, and i promise to help you find it. "mad money" starts right now. hey, i'm kramer. welcome to "mad money." welcome to cramerica. my job is not just entertain, but teach you. call me a 1-800-743 -- or tweet me, @jimcramer.

we had a fed meeting this week, today's report, and once the hurdles were behind us, even if they weren't perfect, we knew we could have a relief rally! sure enough, today, we got more of a sigh of relief. we got a bullish week to make this torture more bearable. dowell, jumping 1.58% purd the nasdaq, 2.25%. for the first decade of my 40- odd years in this business, i would tread weeks like this. i would do my best to trade out of them, to get flat, so they say. over time, come to embrace the unknowable's, as long as they're on the schedule. we knew the fed would meet with a someone's of reliability. you know, he knows how to handle himself. sure, i was he knowledged the structure from the collapse of the first public last weekend, but still wonder/4 a point, because today's hot

unemployment numbers, fully justifying that rate hike. maybe even another 1/4 point the next meeting. as far as apple, what did i tell you? on it, don't trade it. that philosophy worked again. the world's best company, with a couple of joker brokers who would say, things have gotten weaker. it was a classic misdirection play. sell, sell, sell. i hope you didn't fall for it. i did my best to keep you in. something similar from a and he from a few weeks ago. you're kicking yourself know if you see something big cooking with the artificial intelligence fun for microsoft. i can tell you to not sell stocks with a huge amount of pain, but i want you tender -- >> house of pleasure today, we

cleared the third hurdle. now what the fed wants to see, but it does about the resilience of the economy and how important it is. we got it over with, though, which allowed us to earn, especially considering the previous months turned to overstay a bit. maybe the actual spike in hiring was more, let's say, even. we know there's still one more hurdle, the debt ceiling. that's much tougher. to linger until june, probably, which is why i recommend doing some selling near the end of the week you want some cash on the sidelines as this crisis plays out. it will play out, but it is a crisis. let's not get ahead of ourselves. this coming week is a lot less difficult than the one we just went through, in part thanks to none other than warren buffett. that's right. cnbc will be back n omaha once again -- look at this! here you go! i don't know what you're doing tomorrow, cinco de mayo, with becky quick, the annual meeting, which is usually good news for the market monday. it's like a buffett hangover, like we have from the cinco de mayo. because buffett is an

optimistic guy, and the american capital marsha cooke usually leads to a positive reaction. yes, people can actually remember, from this data that, it's rather extraordinary. you notice -- i think a ton of people tried to get in ahead of it today. that was part of the big rally. they knew the pattern. it's true. i watched it today. buy in today, unload midday monday, and people did not bowlers buffett was. definitely, if you're going to buy, wait until after the selling stops. the report for monday, frankly, it is inconceivable to me that this company can continue to be as woeful as it is. it has become the benchmark of suboptimal, closing with paypal and others with twitter. last 1/4 wasn't as bad as the 4 before. up words, maybe you go with skywards solutions, because it has been there. we all know how apple is doing now. that is fabulous. next, i find if you want to get

rid of it, you need to listen to the local companies. they're pretty much the basis of so much economic activity, which is why, tuesday, i will be listening to air products, apd. the industrial area competes against air lending, the, the crop. if there's a whole area brought down, if you are a member of the investing club, buy these wages. we still hear about companies not getting enough semiconductors. global foundries has and telling us why. listen and see if it will finally be cured. this is an insanely difficult moment to pitch semiconductor stocks now with such divergence introductory. auto, going different, different from data center. they're all in different cycles with pcb. these guys can help us figure it out. back to warren buffett, lately, his favorite stock has been petroleum.

i think he will talk about this weekend, but it will be nothing to write home about, but might have a buffett trampoline. i heard reports after the close -- travel has been red hot. airbnb has not been able to benefit from the way marriott has. i wonder if this can be a quarter when that perception changes the reality. i'm looking for good numbers, especially from high-rollers. they were supposed to be absent the last time airbnb was reported. the one thing macro number for next week is wednesday morning, and that the consumer price index. i think it's going to be high. why? a look at the components. the components driving everyone crazy is housing. fortunately, things have been crushed, but we aren't getting a break in rents. rents are factoring into the cpi. watch prices that have come down hard from closing lately. i hope the cpi captures those changes. it hasn't yet. the cpi is not being calculated correctly. i wish i could have a crack at

it and fix it. also, that is not the action. wednesday morning, we get results from wendy's. i think it could drive like mcdonald's, and we have them on the other night. wendy's has perators too. if they want their stock to soar, they need to contact the ceo of ai to take drive-through orders. there by, sitting labor cost and never having mistakes. it doesn't even know how to make mistakes. you know, and i want to ask for this quarter. my wife only had one entrance the whole last three months. she didn't help the cause this time. wednesday evening, we have the most consequent reports with walt disney. for no particular reason today, the stock today with we are telling investors, do not buy disney this quarter. interim ceo bob myers hasn't had enough time to adjust to a new world of fewer viewers and

higher costs. i say, not before the quarter. incredible numbers from the shopping mall kingpin. does that mean the tapestry, the owner of kings bank, stuart wiseman, dennison of simon stores will have a great quarter in reports? i wish i could be more definitive. these days, what good retail? go buy mastercard. next, has yet he stabilized? everybody loves yeti. i carry water. don't you? the stock has not been that great. yeti, not responsible for that. in a world that's impossible to beat the numbers because there are so many knockoffs, i think it's doing fine. i think consumer discretionary has been a loser. i like to listen to them, because it's a terrific company. i wish other companies would stop stealing their ip. finally, friday, after close, st. louis president james bullard speaks this guy as become my true north in this market. today, the fed finally went

where it had to be to beat inflation. he also knowledged the end of the tiniest cycle. that is my thesis exactly. i'm getting it from him, or whether he's getting it from me. if we have more banking headaches this week, i wonder if you will say, going too far. i trust, can't wait to hear what he says. he had good comments today. bottom line, we know there's no real.let around next week. we also the clock is ticking on the debt ceiling deal. i don't have faith in these her side and the market field, and i keep from peak control from this period in 2011. wouldn't be surprised if it happened again now that things are even more rancorous. despite jumping three hurdles, the fourth one will be looking soon with no resolution in sight. you might want to do some selling into the rally to begin today. the wave continues through the week! i feel like taking calls. just my predilection for lisko to rex in missouri. rex? >> hey. big kansas city barbecue capital of the world.

jim! >> was going on, rex? >> well, first time, long time, jim. we had one heck of a super bowl your eagles. >> well, yeah. except for the kind of score. go ahead. >> many more ahead. my stock is walmart. i entered the stock at 140 january. love that it has been in a slowdown, but my question to you is i owned amazon already. is it too redundant? >> not at all. amazon trading on the web services. i think walmart is a winner. i like the stock very much. i want you to stick with it. why? we've gotten through most of the gauntlet, but the debt ceiling could cause some real problems. i'm a pro. it's friday. i'm ready for this. i'm not willing to endorse a lot of lying until it gets resolved and maybe selling at

the end. but on "bad money" tonight, senior reported a beat and raise quarter that surprised the race. i was behind the company's strength? i was a next. watch out king charles. a new king on the wall street in terms of draftkings. i know those are together. i'm learning more to today's 50% spike with the ceo. and clout ferrer sword to the clouds. what could be next for the cloud stock after the recent seesaw action? plus, see what we're all doing after the close today by looking at this incredible new york stock exchange photo of none other than corona and modelo. of course, we can't shoot that. but that's me just imagining that we can. so, stay with grammar.

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what do we do? we have a serious political overhang in this situation. the health insurance company with expressed scripts, where the major pharmacy benefit managers, or pbm for sure. this stock has been a big winner with 44% last year, because wall street tends to love the care place going into an economic downturn or slowdown. this year, the stock has been hammered. congress my pass with a

solution cracking down on the pbf, one of the few businesses hidden by both democrats and pelicans. we're not sure if the ones targeting them fully understand the pbm. everyone in washington says, they're fighting for lower drug prices, but achieving the legislation will not be easy. either way, cigna reported this morning, turns out they're doing incredibly well now, getting every line, better than respected and lower than expected cost ratio. that's key for ratios. they actually raise their forecast, which is how the stock jumped 7% today. i think the pbm is doing a good job. will keep climbing, or do we need to be worried about the looming threat to the pbm business from washington? earlier today, we checked in with david cardella, always a straight shooter on "mad money," chairman and ceo of cigna. take a look. welcome back to "mad money," mr. cardella.

>> great to see you, jim. >> last, so you, the stock was down big, people were concerned. this stock was ultimately great, because it was about the pbm, and how terrific a pbm can be for both the customer and for cigna. let's start with the idea that you had incredibly positive number account surprise, and i would like to think that some of that is because people recognize there is a great bargain to be had if you are with a pharmacy benefit manager. >> you are right, jim. when you think about healthcare in the broader sense, whether it's a medical health situatio , a behavioral health situation, oftentimes, pharmaceuticals are involved, and the better we are and core needing access to care in clinical programs around that, we're able to help people either maintain or health or regain her health, help employers have highly-engaged productive coworkers, which symbols our businesses to thrive. therefore, again, we are growing as we step into 2023, with the addition of $1.5 million for customers and portfolios.

off to a great start again. >> you are doing things that it's a very exciting time to be in your business. i wanted you to speak to biosimilars. i think people in congress wanted to regulate pricing. i want competition. this offers fabulous petition for someone who is a cigna client. >> so, biosimilar represents largely one of the greatest affordability gains or improvements in affordability for the american public, and they are essentially a pharmaceutical similar to special medications that are significantly lower in price, yet have similar clinical outcomes and are on the precipice of a significant amount of change. 2023 is a big transitional year, where new bio-similars will be available, and cigna, through the business portfolio and our special pharmacy, is a leader in that space. it will be able to make more choice for the patients and customers, improve the affordability to our clients, meaning, the unemployed or

health plan. we had lower out-of-pocket costs, and the curve you are referencing, jim, just starting. 2023, we'll accelerate further. 2024, 2025, more choice being brought forward for beneficiaries and improved affordability. so, it's an exciting time, and we're pleased to be a leader in the space. >> one reason i do want to talk about the role of the pbm and expressed scripts, because from your work, candidly, and from your keychain, i have understood and did not initially agree that expressed scripts were a form benefit management that really does help the customer. in washington, there's an investigation which talks about maybe not enough transparency, and maybe that pbm gets to keep too much money. what you have taught me -- you tell me what things have changed, obviously, is that transparency is the role of the pbm, and the pbm argues to get the best price. so, can you please explain to

me the disconnect between what congress may be thinking and what -- i hate to say -- is the flat-out truth of the situation? >> when you think about the market we have in the united states, first, we have to admit it's somewhat complicate .however, at the end of the day, the healthcare is highly personal and local. the role of a pbm or pharmacy service organization is to help to lower prices, ensure that there is access to pharmaceuticals, and importantly, increasingly, be engaged in the clinical management of poly money population. individuals sometimes run six, seven, eight, 9, 10 medications with the clinical work around that. as you articulate, transparency, webelieve

cynically and transparency have continued to bring forth more and more programs that are fully transparent from that standpoint, because they create an opportunity to get lignment between ourselves and an employer or a health plan or a physician, all with the same objective, to get the best possible clinical outcomes and value for individuals, and as a result, a pharmacy services organization, we earn between 40% and 5% marjan with all the work we can do, and we continue to engage with congress, the ftc, and others to demonstrate those results as we go forward.lastly, and jim, we're excited. the last few weeks, we rolled out some perfected programs from the last two years from the benefit of clients and consumers to either cap out of pocket costs or to ensure full transparency for the benefit of employers. this will continue to fuel our attractive growth going forward, engaging in the main dialogue, and we are confident it will evaluate and create transparencies and create better alignment in more value always for those we serve. >> what's important, i think, everything you sent, which helps outcomes and affordability , transparency, but i think not like someone has a gun to my head and says, you must choose this. if i decide, everything you just said is not true, i can

choose another plan. if i'm a reporter, tremendous amount of resources to make the decision, if i felt that they ripped me off with the pbm, i could use another plan. is this not freedom of choice in your industry? >> there is choice, and competition, and we were fortunate, as an organization. we serve small, medium and large-sized employers. we serve many of the independent health plans across america. we serve governmental agencies like cms through medicare, the department of defense, and we work with healthcare delivery systems. think about integrated hospital systems to ensure they have the right especially medications, but they have choices, and to your point, choice creates competition. competition creates a real on this strive for innovation and more value. yes, there's ample choice. >> now, let's talk about

something that is very complicated. there are these two drugs. let's start with the diabetes, but also for weight loss.then, we'll go to moderna, but we don't need to do that. we could argue that diabetes, obviously, is an illness that's conical, but the weight loss can be abused, and there's lots of ways to get weight loss, but the drugs do work.how do you decide, you know what? i want our clients to be sure that they're as good as possible, because we know that's healthy vs. the cost of the product, whether it could actually bankrupt the system? >> first and foremost, when a new medication comes to market, an independent pnt or clinical committee reviews the medications for clinical efficacy, and then for what's called comparable effectiveness affordability, but clinical f is a key comes front and center. we were an early adopter of wagobi, collaborated with the manufacturer with a contract that paid based on the

clinical outcomes for the patient, not just for consumption. importantly, to the crux of your point, we offer choice. we after choice for our clients. as a relates to drugs in this class, in most cases, the drugs are fully covered for diabetes. in most cases, currently, the drugs in this class, employers taking that example have the choice of expanding coverage for obesity and application. we think this space will evolve over time. so, back to choice, it's important to ensure that choice is embraced. two, the clinical dimension is reviewed independently, and value-based care and making sure payment takes place, in this case, the pharmaceutical manufacturer, based on the outcome, take a diabetic population, we want improved health outcomes for diabetics. there's a lot there. then, offering choice back to the employer. we think is going to be continued innovation and space. we will seek to be a leader in support of choice and the

clinical programs for the clients and patients we serve >> that is excellent. i think most, if not all the people watching, would agree that that is a fair way to do things. i want to thank david, chairman and ceo of the cigna group. gentlemen and ladies, i have been through this to figure out what's right. you can see which side have come out with. believe me, it is not the way i started until david corr danny came on the show many years ago. david, thank you so much. >> thank you. good to be with you. >> thanks for coming by. coming up, fantasy sports is a money-making reality. can draftkings end in first place? cramer gets to the end next

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from draftkings. one of the top online sports gambling sites. the stock plunged from $15-$11 in a single session. fast forward to last night. draftkings delivers a magnificent 1/4. big record, thanks to lower customer acquisition cost and better ability to keep customers around after football season ended, which was surprising to me. on top of that, matching the reason for the forecast, likely to turn a profit by the end of the year. in response, the stocks surged more than 50% today to $24 and change. it's now more than doubled in six months. that's what stocks can do. hard to do mutual funds. i wouldn't be surprised if this one can't keep running. by the way, before it became public, draftkings with a cnbc disruptor-50 company, from the 11th annual list of disruptors and startups next tuesday, both on air and online at

cnbc.com/disruptor s. if only did it this way, people would remember. let's look at how draftkings pulled off this incredible quarter. we got a chance to speak with jason robbins, cofounder, chairman, ceo of draftkings, whom i met when he was a disruptor. take a look. jason, welcome back to "mad money." >> thank you. thanks for having >> on. >> all right. let's get right to it.this was a conference call you gave that i thought was a tour de force, because you talked about revenue growth and efficiency. a lot of your compadres have one or the other. tell us about how you were able to come to the conclusion that you needed both in order to shine. >> really, started about a year ago. we had an executive team off site.we sent, we've been so focused on revenue, we've got to focus on cost. someone said, you know, is that can be the expense, focusing on

revenue? i said, no, we got to do both. everybody rallied around the concept, and we sort of came up with this concept of and and used it in various places of business. for example, we got to make investments on the product side to win now and make long-term investments that may not pay off tomorrow, but will set us up to be competitive in the sports betting market of the future. really, just rallying the team around the concept of ands.we've got to be able to do multiple things at once and be a big enough company that execution is the big thing, and executing at scale, i think we've done a nice job doing that over the last year, i commend the team for really proving to the world we can be both >> and jason, i have to tell you, i was concerned you were spending so much money going into new states, including one effort that did not succeed. instead, i find you spending more time now on coming up with interesting games. a parlay within a game. your eye game is very exciting. you're streaming service. these are all things that make

me feel like you figured out how to make money now, and if you get into other states, it'll be cookie-cutter. >> i think, at this point, the new state playbook is fairly optimized.we're still finding wins here and there, but we know how to execute there. it's far more efficient, both in terms of the speed and path of profitability and therefore, overall cost, i think has improved. you're right, on the product side, i think we've always viewed product as the most important area to invest in to win long-term. customer experience, overall, which the product is such a critical component of. i think that's true of so many tech industries. the best product wins. really, that's where we've been focusing in. i think we're also seeing that we can deliver high-quality at a high velocity. that's another thing we've said in our spirit of speed and quality shouldn't

be a trade-off either. we can deliver great quality products and not sacrifice there, while also delivering things faster than our competition. >> you know there's no overwhelmed, no problems with getting the job done. tomorrow, for the derby, on a concern. i think you're going to be ready. >> i hope so. you know it's a big day. i think our first kentucky derby with the horseracing products, we're very excited about the new product for the customers. we're looking forward to see how the kentucky derby goes, and it's a fun day. it's a great day. horseracing is the most important day of the year. we're pretty pumped for it. >> you talk about something i've always loved, which is there certain people in certain teams that win, particularly underdogs, it becomes quite exciting. why don't you run through what are the things that really make people feel great about gambling? >> it's funny, that there is true. of all things except for one, march madness. everybody went off when you are seeing fdu upsets, and great,

that must be great for you all. it's actually not. march madness people, they love seeing the cinderella story, and they bet that way, funny enough. but generally speaking, yeah. the underdogs winning is good for the house. people tend to bet the favorites, particularly on parlays. they like to parlay the favorites. that's good. people tend to bet the overs. if you see unders coming through, that's generally better for the house. people want to see more scoring, not less. a lot of player props now. same story. people tend to bet the overs there more than the unders. a lot of people are bidding on player props. so much so, one of the fun things this past super bowl i thought, everyone was asking, is a good for you if is a city or philly wins? it actually doesn't matter. what matters is does miles sanders score or travis kelce score or jalen hurts? it shows how much the industry is changing over the years and how much more betting is moving towards proposition bets.

>> yeah going to say, one of the most exciting things i find, when you do that who scores first, or just to open it, will patrick mahomes get a touchdown. tell us how valuable -- what a lot of us think is a giveaway -- is for people -- for new people. >> well, really, it's something that i think gets people to experience the product right away in a simple way. at the beginning of the game, it shows them that not all bets have to be just who's going to win the game, or really, these full-game bets, they can have a bet that, on the first play of the game, you're gonna know if you won or lost. you can bet on the super bowl on the coin toss. the most popular proposition, before the game starts, you know if you won. lots of fun ways. that's why i think we are just scratching the surface on the product. so much growth and opportunity to engage customers. one of the things we introduce, and the more we do, the more engagement and fun we see. we're still so early and innovating. i think some of the most

exciting things for in-game betting are still yet to come. we've got to solve the latency issue with the video feeds to make sure the real-time feeds are available so people can sync up there live bets. really, just the opportunities with so much left there. it's great, too, because people watch sports more when they bet more. it's a good cycle for both leagues and the media rights holders as well. >> the tv people in the football people know that you have made it so a fourth quarter of a game with a lopsided game, which most people would turn off, has become just as important as the first quarter? >> they know. and this is why, i think, it's doing well as an industry too. they're engaged. as i said years ago, i said, we're going to see a successful sports betting industry developing in the united states, and it has to be with leagues engaged. the leagues are fighting this, they don't like it, if they don't feel like they're a participant, and they have some sort of say in the way this is

going, then it's not going to go well. i think what we have seen, and part of why it's been such a high-growth industry is you have seen such great engagement for all the sports leagues. they understand the impact this has on the sport and that a lot of their fans want this and if they serve the fans, they can't ignore the fact that a version of again chunk of their fans want this. at the same time, they've been measured about it and say, not all of our fans want this. we don't want to overwhelm the podcast with sports betting. we want to make sure there's some limitations. the nfl, for example, placing limits for each nfl game. i think it has been a great collaborative effort there. really excited to see it improve. >> we surprised to see how long it took for the networks to finally talk about even just the line and how good that is for you that they do it? >> you know, it's something that i think, everything moves slower than it should. all of a sudden, the floodgates open, and it moves quickly. it just seems that's how these things work in the world.i think this has been an example of that, you know, yeah.

it took longer than you thought, and all of a sudden, when one starts, they all do, and seems to get it at the same time. but it's fun to see it coming together right now. i really think it's a positive trend that will continue, and i don't see any sign of a slow down. >> it's terrific. i love the efficiency, because i want you to make money. i love the fact that it is as fun as ever, and you stuck with it through even some very big reversals, and you never quit, because that's who you are, jason. that's jason robinson, cofounder and chairman, and he is ceo of draftkings. i love it when you come on the show, jason. >> i love being on. hopefully, next time, i will do it in person. >> sure. >> you have always been a supporter. i appreciate that. >> i sure have. take you so much, buddy. back in a minute. coming up, who skies ahead on the cloud? after an early-morning rally, is this tech stock worth

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the rebound of a first quarter stock has us wondering, what is it worth? roller coaster situation that we don't understand. consider the case of cloudflare, content-delivery network with cybersecurity kicks. after slowing this year, went back up around 60. cloudflare reported a low quarter mixed to positive results. slight revenue missed a couple of solid earnings, and the

forecast for the quarter and the full year showed the same pattern. at least, stronger earnings is what i thought we were looking for. unfortunately, that's not what wall street wanted to see. the stock admitted 21% last friday. spent most of the week sliding lower. but they also want to see robust revenue. might have been able to get them all at once. yesterday, though, cloudflare had the initiative and when they spelled out what's wrong, citing the macro environment, elongated cell cycles. that stopped the bleeding with the stock going up 9% today. that makes sense to me. even with the rebound, down 26% from trading for the quarter. that doesn't make sense to me. in this reaction? can the stock keep bouncing? we may need to be more cautious. let's check in with matthew prince, cofounder and chairman of cloudflare for a better read on this situation. the shoe prints, welcome back to "mad money." >> thanks for having me. >> matt, i thought you had in the pivot when i saw the results.

i want this for companies to do, because i want profitability. are you as surprised, frankly, as i was, that just a little bit of a slowing in sales, but a nice ramp and profitability, somehow, was a sign that your business was no longer worth what it was? >> jim, i think you've been consistent in saying to me, anytime we talked, that this was a time when the economy was hitting harder, you wanted to make sure you show you had control of the levers of your business. i think that's exactly what we've done in loudflare. i've never been more confident in what cloudflare is delivering with the value our customers are taking from our products. when i think is happening is i.t. departments are getting slower to buy, and that extension of sales cycles not only affected cloudflare, but any of the high- velocity sales with tech growing companies pushing revenue out. but we're not seeing is any slowing in our win rates. we are still winning against competitors. just taking longer for the deals. >> yeah willie wright. there's a whole slew of companies in your area that got

penalized recently. it's not you. what i think our viewers are probably wondering is what does the word elongated main? more trackballs, people look at it? sits on a desk longer? that's something they may not understand. we know that what you deliver is something that is mandatory and necessary >> absolutely. we continue to be a must-have and in nice to have. the deals are closing, but in our case, we saw, in q-1, deals extended by 27%, as far as how long it took for them to close. we're seeing cfos, whether nervous about what's happening in the economy, the banking sector, they're measuring two, three, four times before they sign. they eventually sign, but that slow-down means it slows down the revenue that can be recognized. but we're still getting the revenue. it just takes longer. >> now i think you need to expect people why cloudflare is necessary. why you did, in the end, triumph over the elongated cycles. >> i think, at the end of the

day, one part of every i.t. class not getting cut is security, because security is critically important. these days, we're seeing more cyber attacks from more nationstates, individual hackers, going after every company out there. cloudflare is absolutely critical in order to make sure that anyone goes online safely. >> now, is it possible that there are some changes made to your sales organization that may have slowed things a bit? >> actually, no. i think that was a misunderstanding. >> explain that. you know you get these narratives, and which is why i'm glad, matthew, you are here. >> i'm so happy to be here again. in-person, last time we did this, the early march of 2020. we made changes to our sales organization, but we knew we were going to do those things. that's something that we hire someone 120 days ago, give them a 1-20-day plan and execute it. when i think is important is the changes want the cause of us seeing slower sales cycles. instead, the fact that we were making those changes was enabled by the fact that we were seeing them all change

requires pain. we were actually using the challenges of now to say, what are the parts of the organization that are world- class, and how can we make a world-class, and that's going to make us better at selling larger and larger enterprises and closing even more of the fortune 500 than it already has today. >> that's what is going to get at, that there are a phenomenal number of companies that use you and find you, frankly, indispensable.maybe, again, you can tell our viewers what these organizations that use you are afraid of, and what is your stop? >> we stop anything that can be a network security threat to any of our companies. so, today, 1/3 of the fortune- 500 rely on cloudflare to be asked relatable, most importantly, secure online. but what's amazing is that if we look at that, original day, those companies keep getting larger and larger, using more and more of our products. and so, what we're seeing is that, even just selling to our existing customers, even just selling our existing products,

we believe that, just with that, we're able to get the $5 billion revenue that's just an astonishing amount of growth we see over the years to come. people have to realize, even though they think, wait a second, the growth has slowed. to get to that level, you have to be a very elite group of people to even get to that level this quickly. you can tell people, you may think we are slowing, but we're faster than the other guys you think are passing us. >> yeah. no matter what, i think everyone in the high-growth sector that has really fast sales like us, like cloudflare, is going to see challenges this quarter. even those people with elongated cycles, those challenges show up next quarter or the quarter after that. what i think is amazing about this is our products continue to sell, customers love what we're doing, they're signing up for more and more services. the world is not getting less scary as far as cyber attacks. that gives me a ton of confidence in exactly what it is we're delivering. when i look at other companies

with substantial businesses and how they came out of there 08 or '09 with microsoft, salesforce or adobe, they saw their growth accelerating after that. that's exactly what we want to do, as the economy does recove .i.t. spending will come back for the next little while. it's can be challenging. again, we're a must-have. not a nice to have, everyone understand, what matthew is saying is not something he said. although, i would say, with -- there's a handful -- maybe two or three was such great ai cycle that already just started, didn't have these problems. i want everybody else did. i'm glad you came on and had your meeting, where people upgraded and realized that, perhaps, they had been to make hasty in making a judgment against the company. i want to thank matthew prince, cofounder and ceo of cloudflare. i liked them from the beginning. i like it still. my buddy is back after the break. next on "last call," is the

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it is time! lightning round! and in the lightning round is over. are you ready? let me route with chris. >> yeah you doing today, buddy? i'm calling in, very, very curious, back at it again. covax holding. >> what's the stock? no, no. this cycle is not allowing it to the tertiary service place to work.we don't want that one. let's go to jon in new york.

jon? >> boo-ya. i'm actually michael in san francisco. >> sorry, yes. very, very expensive. hasn't pivoted yet. still losing money. not my cup of tea. now, jon in new york. i'm not done. jon in new york. jon, jon, jon? >> boo-ya. what do you think of them now? >> i like it much. i will try it out this weekend. that is the conclusion of lightning round! >> lightning round is sponsored by td ameritrade

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we have a moment between the fdic and something we know will put an end to this for good. the regional banks started falling hard in march and the fdic ran flat with the speed with which deposits were poured out of these institutions, which happened overnight, but when first republic filed this weekend, that was different. plenty of time to prepare, and the inability to take care of the wind-now with any precision or rigor caught us off guard and handed a great bank to j.p. morgan for some, what has to

happen? it's simple. i think silicon valley bankers, the first three to go, should have gone because they had real credit problems. first republic invested safely, no bill create problems, but couldn't meet redemption, a different issue entirely. door to the other banks almost broke this week, with short- sellers banging down the two regional bank etfs. not going to hold the bank stocks down. but this will continue until one of three solutions occurs. first, the fdic could raise the insurance.$1 million, which will congress endorse expo factor, because congress loves regional banks, or you simply have insurance accounts over to $150,000 who want it. coupled with the longtime lavia banks to make sure the insurance is covered. just charge a fee for insurance for individuals. or the fdic could levy all the banks to pay for insurance. it has to be universal. every bank can be the goalkeeper. you want the level of assurance to keep your money anywhere, not just in a regional bank. maybe if you think you can take the bad act of congress to get this done? this last one will be like the atm fee you pay when you take

money out of some other bank, but you have to paper nobody says, you can't be charged. nasa's law student -- we all see the fdic dispenses monies from institutions, as long as the only problem is the duration issue. if the bank lacks the resources because of the capital tied up to long-term bonds, but the floors, unraveling, the fdic can move rapidly on an emergency basis. there should never be a bank like that. there should never be a genuinely good bank, one that but treasuries and agencies, and just didn't anticipate that they could be underwater in an unprecedented 525 basis points set of highs in 14 months that nobody foresaw. we live in a country with only a handful of banks with smaller goods, which is what will happen if we keep planting more situations to play like first republic did. there are a lot of these to consider here. we don't want rich banks like j.p. morgan buying a bunch of the early-deceased padres allowing them to stem out the competition. capitalism runs on competition. we want a wide variety of banks

up against each other, especially local banks, which are key bed rocks for the community's. the fdic can event these banks from going under, but from last weekend, that's clearly know what they're doing. let's hope it's a business and not a lack of political wherewithal. i like to say, the markets are bare. find the right here, on "mad money." i'm jim cramer. see you next time. "last call" starts now. good evening, everybody. thanks, jim. i'm sitting in for ryan sullivan tonight. down for berkshire. what will one buffett say tomorrow with the. and cnbc leading the bank system. we go live to omaha to talk about good timing. one congresswoman sold shares in the regional banks just before they crashed. we'll tell you who he was. targeting chatgpt. striking hollywood workers are spooked over the future of writing an