Jim Cramer: Here's Why 'Project Nightingale' Is Bad News For Google
Jim Cramer tells TheStreet's Katherine Ross that breaking news surrounding Google's secret 'Project Nightingale' isn't going away anytime soon, and that watching the stock price today isn't an indicator of Google's future performance.
Shares of Alphabet are up Tuesday morning, despite a report that its Google subsidiary has teamed with one of the country's largest hospital systems on a secret effort to collect and crunch personal medical data on millions of patients across the country.
"If you're involved with 'Project Nightingale," I think you should've been thinking, "Wow, what if a reporter from The New York Times had found out about this?
Would it look good?" asked Cramer.
Under 'Project Nightingale,' Google is collecting doctor diagnoses, hospitalization records and lab results, among other items. Google is one of a number of tech giants that are making a big push into health care, with a skew toward data crunching, including Microsoft , Amazon and Apple .
"It's the test of the newspapers," Cramer tells Ross.
He emphasizes the importance of always thinking a few steps ahead about how the media will respond.
And how did Google get it so wrong this time around?
"Well, it's simple.
They have no benefit of age or wisdom.
And they think they're dead right at all times," said Cramer.
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