Gwyneth Paltrow Jokes She's 'Devastated' by Martha Stewart's Diss

Gwyneth Paltrow Talks Martha Stewart Comments
Martha Stewart (left) and Gwyneth Paltrow
WENN, Carlos Alvarez/Getty

10/08/2014 AT 01:00 PM EDT

Although Martha Stewart recently dissed Gwyneth Paltrow – stating that if the Oscar winner "were confident in her acting she wouldn't be trying to be Martha Stewart" – the actress-turned-entrepreneur is taking it all in stride.

"I'm so psyched that she sees us as competition," Paltrow, 42, said Tuesday at the 16th annual Fortune Most Powerful Women Summit in Dana Point, California, where she addressed the 73-year-old domestic diva's interview with Net-a-Porter's magazine in September, in which Stewart told the Iron Man actress to "be quiet."

Paltrow initially made light of Stewart's criticism of her lifestyle website, goop, which she launched in 2008 to "share all of life's positives," before turning serious.

"No one has ever said anything bad about me before, so I'm shocked and devastated. I'll try to recover," the Oscar winner joked. "I think that when anybody criticizes anyone, it really is revealing more about where they are in time and space as opposed to where you are in time and space."



Continued Paltrow: "[When] we tend to lash out … it's usually a reflection of something else, and so I try not to … take it personally. I see it as a projection … [but] sometimes I learn good things from criticism."

Still, it is likely the pair won't be crafting together anytime soon, especially following Paltrow's recent hiring of former Martha Stewart Living Omnimedia's Lisa Gersh as goop's new CEO.

"I was looking for somebody here to help me really take it to the next level, and, as fate would have it, Lisa was over for dinner one night and said she would take the job," said Paltrow. "I got drunk."

Paltrow said she sees her "movie career as one thing" and goop as another.

"I think we women, we have ambition. We can multitask and we like to push ourselves," said the actress and mother. "It's been so incredibly rewarding and so incredibly challenging in a way that the … movie part just can't be after a certain point."

Reporting by ABBY STERN

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