Mad Money

Cramer says he was wrong about what autonomous cars mean to Alphabet's future

Cramer: I was a skeptic on driverless cars...until yesterday

Jim Cramer was a self-professed skeptic of driverless cars. That opinion changed when he got into the passenger seat of one at Alphabet's headquarters this week.

"I thought they were a pipedream, something that wouldn't be viable until the distant future. Turns out I was wrong, and the future is now," the "Mad Money" host said.

After a short ride in a Waymo with someone chaperoning in the driver seat, Cramer's entire opinion about driverless cars changed. He realized he trusted the technology more than he trusted a driver to not drink, text or fall asleep at the wheel.

Cramer admits he was wrong about what driverless cars mean for the future of Alphabet.

While there are kinks that need to be worked out, Cramer walked away from the experience with a realization that autonomous vehicles represent a huge part of Alphabet's future.

The key, he said, is to get the skeptics to understand how large this market could potentially be.

"By the next decade, it is hard for me to believe they won't be standard equipment for all the automakers," Cramer said.

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Cramer says he was wrong about what autonomous cars mean to Alphabet's future