This week CNBC unveiled its Disruptor 50 list of innovative companies. At No. 18 was Phononic, which took on the task of reinventing the refrigerator.
Phononic uses solid state semiconductor technology to create a process called thermoelectric cooling. Essentially, it runs electric currents through materials to create a temperature differential, which makes one side hotter and other side cooler.
This technology allowed for Phononic to create a better refrigerator with no moving parts that will break down, no cooling liquid, almost no noise and it consumed approximately 25 percent less power than a traditional heat exchange refrigerator.
Cramer spoke with Phononic's founder and CEO Tony Atti, who explained that the company had to build the entire supply chain and contract assembly backside from scratch.
"We use the word displace versus replace, because we want to take the existing solution; scrap it and come up with something entirely different and better," Atti said.
When Ralph Lauren's new CEO Stefan Larsson presented his turnaround plan on Tuesday, the market didn't know what to make of it. That confusion led Jim Cramer to do his homework and find out if Larsson's new plan really has legs.
"The market's reaction was downright schizophrenic," Cramer said.
Initially Wall Street seemed to hate the plan, with the stock plunging $10 to $84 a share at the open. However by the close, the stock had rebounded back to $94.
The reality is that turnarounds take time. Cramer saw the same trajectory outlined with PVH, the parent company of Tommy Hilfiger and Calvin Klein, which took years to pull off.
Eventually, Cramer thinks Larsson will be able to deliver, though there could be short-term pain. Ultimately he thinks this one will make it.
"Why? Because in the end, the brand is iconic as ever, it was just too ubiquitous and too dated. Larsson is ending that, so call me a believer," Cramer said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
8x8, Inc: "Voice over internet protocol. A lot of people think there is going to be a takeover. I think it's time to ka-ching, ka-ching. I'd take a little off the table."
Seres Therapeutics Inc: "I think that one is a buy, buy, buy."