So, why not just sell everything?
Cramer reminded investors that there are still plenty of companies that are delivering on their promises. Those investors that sold into Thursday afternoon's weakness would have missed out on strength in LinkedIn, Expedia and especially Amazon—which almost doubled the profits expected.
"I think rather than focusing on Icahn likes or dislikes—and I love the guy—we need to focus on what this market wants out of a company," Cramer said.
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One stock that displayed exactly what a company can do in this environment was Facebook, which soared 7 percent Thursday. In fact, Cramer thinks it should have been up more than it was on Thursday.
The company's revenues were up a staggering 52 percent year-over-year and came in approximately $150 million above analyst consensus.
"The numbers are downright sterile compared to what is really going on at Facebook," Cramer explained.
Cramer added that the magic behind Facebook is that it has managed to transform how people live their lives, and make an impact that most businesses can only dream of. It now has 1.09 billion daily active users that spend around one hour a day on their page, Instagram or messenger.
That is one billion more people who found time to be on a network that didn't exist a dozen years ago.
Facebook grows its gross margins by including more ads, because users create more content. And it's all done on a phone, which Cramer thinks is the real secret, because a phone is always with them.
Ultimately, there is plenty of life left in Facebook, Amazon and LinkedIn.
"Before you throw out everything because one smart man is worried about them ... For all the sturm and drang about tech, the F and the A in FANG look pretty darned good. Two out of four aren't bad! " Cramer said.