With the rise of the stay-at-home economy, Jim Cramer noted that the stocks that have excelled are those that don't even require customers to get off the couch, like Netflix (NFLX) and Amazon (AMZN).
The one big exception is that when people do leave the house, they now require experience, since there isn't a way to duplicate a concert in their living room.
The purest play on the experiential economy is Live Nation Entertainment (LYV), which owns Ticketmaster, has 167 venues globally, runs major music festivals and manages artists.
"This is a fabulous business at a time when concerts are the only way artists can get paid, and one of the few things millennials will actually leave the house for, if only so they can take a selfie and send it to their friends, of course, via the hottest stock on earth, Snapchat," the " Mad Money " host said.
When Cramer spoke to the CEO Michael Rapino last week, it was abundantly clear to him that the business is on fire, and he doesn't' think the stock is getting the credit it deserves.
Cramer knows no one wants to hear it, but investors shouldn't get caught up in valuations when it comes to an unseasoned initial public offering like Snap (SNAP).
When a company goes public, often it will hold back stock. In Snap's case, it came public with 200 million shares that trade, and has 1.2 billion that aren't public yet. Thus, the 200 million shares are what's determining the company's $40 billion valuation right now.
"As long as that is the case, we cannot draw real conclusions about what the company might be worth. Once we get the float expanded, and we learn how much advertising love there is for Snap's daily average users, then we will need to think about valuation," he said.
Until then, Cramer warned that investors will drive themselves crazy trying to be rigorous about something where rigor doesn't apply.
Next Friday, Cramer will have his eyes glued to the Labor Department's non-farm payroll report, because a strong number will encourage the Federal Reserve to raise interest rates.
It will be the most important day of the week, and Cramer wants to see a strong jobs number .
"So many financials have rallied so hard in anticipation of a March rate hike that if we get the kind of weak number that might discourage the Fed from taking action, it could cause these stocks to get slammed," Cramer said.
At one time, the market feared a series of rate hikes from the Fed. Investors now welcome it because there is confidence that the economy can handle it. As long as the global economy continues to improve and U.S. hiring is strong, Cramer said higher rates are vital.