Shmuck of the day Award goes to….

  • Posted by
  • on October 6th, 2006

Two people – Calacanis and CalaCRAMER.

I don’t know if I could keep this up, but maybe someone will carry the torch from here.

It is really time to call a shmuck a shmuck.

The first shmuck is Jason Calacanis. He is Cuban’s buddy and sold some blog empire (ok one good blog – engadget (full disclosure – I don’t even read that one)). This guy has absolutley ridden the hate train on YouTube all the way UP. Today it’s all love from Calacanis . He is out calling Google and YouTube a perfect match. It is amazing that this guy has influence.
Here are some of his lovely rants on YouTube before today’s love:

“That’s why you see everyone making their own syndicated video services–we all know that YouTube is on the brink of extinction. ”

“Only an idiot would pay someone $1b for technology that is a commodity and traffic that is based on their IP!”

“Like Napster, it was fun while it lasted…”

“If YouTube makes $250M from a sale their founders and VCs should give $225M of it back to the content owners like NBC and Loren Michaels who they stole it from!”

“If someone buys YouTube they will not be rewarding entrepreneurship, they will be rewarding piracy and they should be ashamed of themselves.”

“Also, I don’t think YouTube is gonna get bought at this point. This is the hottest M&A market *ever* for Web companies. Just look at Viacom firing Freston over losing MySpace to Fox and bringing in a new guy who’s focus is to find the next MySpace earlier. Whoever buys YouTube gets left holding the lawsuit bag–just like Napster. I wouldn’t touch it with a Yahoo’s 100 foot M&A pole!”

“It’s a game of whack-a-mole and YouTube isn’t going to get away with it for much longer.”

“The fact that folks are talking about them being bought for some large amount of money by Newscorp is commical. They are a glorified FTP site with TAGS people! I could set this up in a weekend with two kids in high-school and a couple of cases of Red Bull.”

It is awesome that AOL – the finely tuned internet machine – has him running Netscape and FloggingStocks.com.

I could not start schmuck of the day without mentioning James Cramer. My friend Adam had these two beauties directly from the guy’s mouth – within MINUTES:

“Jimmy Ray, at 10:38 this morning.
Sometimes you should take notice when a stock is up that should be down. That means there are larger forces at work.

Could it be that Kirk Kerkorian is going to make a tender offer for the whole thing? Don’t laugh, that’s not inconceivable. Could it mean that GM’s earnings are about to explode? Certainly possible.

GM is what I call an up stock. It doesn’t get hit when it should. It takes all negative news in stride.

That’s a stock that’s headed to $40, do not pass go, do not collect $200. Hold out for bigger things.

Followed by the news that Captain Kirk is buying no more, and Jerome York, the original Darren Stephens on Bewitched, is leaving.

Followed by this,two hours later:

General Motors (GM) is bad. Unless Tracinda takes a hostile route, this is a real chink in the GM story. If it is only an earnings story, then we are capped.

The idea was that Jerome York would work his magic with this company … from the inside. That’s now out the window.

I had been taking my cue from a stock that wouldn’t quit. We don’t have that now.”

SO – one minute is is 33 and change and he is yakking it to $40 and a few minutes later BAD and trading at $31. I hope someone caught BOTH SHOWS Jim. Now anyone can have bad luck – it’s just that this happens daily in Cramerville and there is just no accountability or strategy for losing ideas like this.

In stocks, there has never been a better time for “Less is More”.

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