It's hilarious a lot of times. You have a conversation with someone, and he's like, 'You speak so well!' I'm like, 'What do you mean? Do you understand that's an insult?

I remember the first time I saw the 'Sugarhill Gang' on Soul Train. I was 11 or 12. I was like, 'What's going on? How did those guys get on national TV?' And then, when I was a little older, a rapper from the neighborhood got a record deal. I was shocked.

When you're growing up, your dad is your superhero. Once you've let yourself fall that in love with someone, once you put him on such a high pedestal and he lets you down, you never want to experience that pain again.

I think it's very important for hip-hop, when an artist reaches a certain level, to ascend to executive work.

Music is everywhere - you consume it every day, everywhere you go. The content creator should be compensated. It's only fair.

I learned to ride a ten-speed when I was 4 or 5. My uncle gave me the bike, hand-me-down, and everyone used to stare at me riding up and down this block. I was too short to reach the pedals, so I put my legs through the V of the frame. I was famous. The little kid who could ride the ten-speed.

I can think of no one more relevant and credible in the hip-hop community to build upon Def Jam's fantastic legacy and move the company into its next groundbreaking era.

Do you know how many athletes go broke three years after they stop playing? I want to help them hold on to their money. I mean, I know about budgets.

I think that's what happened to the record business when 'Napster' came around. The industry rejected what was happening instead of accepting it as change.

I think in London - and I don't wanna offend anybody in America, but this is a real statement - they still have the right approach to making music. In the U.S., people see it as a way to make money; they see it as a means to get out. It's a hustle, which is great - any way you can provide for your family that's legal is fantastic.

Around 20. I'd been trying to transition from the streets to the music business, but I would make demos and then quit for six months. And I started to realize that I couldn't be successful until I let the street life go.

When the TV version of Annie came on, I was drawn to it. It was the struggle of this poor kid in this environment and how her life changed. It immediately resonated.

I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella. Reid and Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community.

I got love for Damon Dash as I did before. I don't know if we can be around each other in that way because times have changed. He may be a totally different person. I know I'm a different person. But nothing can erase that era, those times, those memories, those fights to get 'Roc-A-fella' where it was.

'Blueprint 3' is made up of songs, but it's also a commentary on the idea that in order for rap to survive, we have to stretch out the drama. We have to stretch out the audience. It can't be this narrow - we have to stretch out the point of view.

When Basquiat was hanging out with Madonna and Fab Five Freddy, and all those worlds were colliding, people have to realize hip-hop and the arts were like this 'cause we both were outcasts: we wasn't allowed inside the galleries or inside Yankee Stadium. We were writing in the street and making music.

I don't think any rapper can go back. You can be a car salesman, a bank teller - I mean, really good jobs, and people are still gonna look at you and be like, 'You used to rap; what happened?'

It was a weird mix of emotions. One day, your best friend could be killed. The day before, you could be celebrating him getting a brand-new bike.

Everyone's supposed to stay in their lines and be neat. 'You're a rapper. You're supposed to rap, carry a boom box, wear chains, and go to the club - that's all you do. What are you doing collecting art? What are you talking about? Wait a minute, you're getting out of the zone.' People hate when people cross lines.

I'll make a song with Rick Rubin, a song with Beyonce, a song with Lenny Kravitz. I just believe in making good music. I'm not trying to section myself off into just making hard-core rap music.

Growing up where I grew up, we looked to athletes. They were our first heroes. They came from the same places we came from. I mean, you can't watch TV and see someone who is successful that you can really relate to. That person isn't real; he doesn't exist. But athletes traveled the world, had these big houses and gave their families a better life.

My first album was mainly dealing with street issues, and it was 'coded': it was called 'Reasonable Doubt.' So the things I was talking about... I was talking about in slang, and it was something that people in the music business was not really privy to. They didn't understand totally what I was saying or what I was talking about.

I'm just saying the producers and people who work on music are getting left out - that's when it starts getting criminal. It's like you're working hard, and you're not receiving. In any other business, people would be standing before Congress. They have antitrust laws against this kind of behavior.

I've got a nice collection of paintings - a Basquiat, a black-and-white Warhol that's like a Rorschach test, and I commissioned Takashi Murakami to do a ten-foot joint for me. It's almost like the explosion in Hiroshima with his famous skeleton head. There's a wall above my fireplace reserved for it.