Keith Watson exposes Dame Dash - Reveals the REAL reason why Jay was made president of Def Jam *WOW*

[Knights89]

its crazy to think jay didnt collect/deferred royalties for 8 albums. where did the original money go. it seemed like it would go to an account/savings or something.

 

[Julius Skrrvin]

Make another hov

these past couple months has really solidified this as one of the greatest diss lines to ever be laid down in song

 

[Formerly known as...]

its crazy to think jay didnt collect/deferred royalties for 8 albums. where did the original money go. it seemed like it would go to an account/savings or something.

Jay eating off this right now probably.

 

[J-Fire]

Not just now but in the past.

I don't envision dame asking the likes of Lyor etc for favours but if dude treated people better back when then there would be more doors open to him.

Only so many people you can burn in the end. Jay did the right thing, didnt beef with him just moved away from him.

that is true.

but when ya play the @sshole you need some john blaze products, because talent is still number1. Look how the vikings are apologizing to adrian peterson! if dame had some good projects coming out and some good artist coming out.....he would be in space where he could work with more people, period.

 

[Frida Giezman]

these past couple months has really solidified this as one of the greatest diss lines to ever be laid down in song

All you gotta do is take a look at all the business moves Jay has made outside of his own recording career since the rocafella break up

And dame? Well, not so much

 

[JayGatsby]

I think that Russian investor bit is true, this isn't the first time I've heard it, which is funny because that means dame let dudes eat off a culture that they know nothing about... Some would call that a culture vulture

If all is true, ppl need to stop saying jay snaked dame ...

 

[Suicide King]

Anyone who is about their business, knows Dame is not about his business. He luck'd up with Jay and rode that wave but apparently he didn't ride it very well. Now all he does is talk talk talk and prays someone is listening.

To say he is a bad business man because Roc-a-Fella broke up is a little outrageous, like those 10 years didn't matter. Might as well shiit on Russell Simmons, Quincy Jones, and Babyface for not having successful record labels in 2015.

I can see if it was a situation where only Jay was moving records on Roc-a-Fella, then I would say:

1) Dame rode the wave
2) Dame was a no good lazy bum
3) Dame only danced in videos

But that is not the truth.

How many artists on Roc-a-Fella, from Cam to Just Blaze to Kanye will tell you Jay-Z played them cold. Jay-Z admitted that Dame ran Roc-a-Wear clothing as well.

Dame ran the day-to-day, even Just Blaze who said he wants to knock out Dame still give him props.

Dame will probably never put together another run, and he might never recapture that magic because the music industry is not thriving like it once did before. But are you really saying he deserves no credit? All the credit goes to Jay-Z?

 

[NV-ME]

that guy said saving is for suckers or wack...whatever, no matter how much money you supposedly make or have going on, i can never completely take you seriously if youre in your 40s or 50s saying dumb shyt like this.

wish i had footage of dame and stoute arguing, back at the height of their arrogance. musta been like gilbert godfried practicing being annoying in the mirror.

 

[Knights89]

Yeah I thought it would be pretty obvisous Dame didn't have a majority stake in anything if they was splitting it 3 ways?maybe he didn't know that was common knowledge....and yeah I didn't quite get the royaltys thing,or if Dame would even be the person in charge of handling Jays royalties for anything outside of Reasonable Doubt?And dude made it seem like it was squarely on Dame to pay Jay the 68million... Also its hard to believe Jay didn't give a damn about his royalty checks for 8 albums,Hov mustve been stacking for real if he aint notice that....The radio host and the Keith Watson cat sound hostile,i thought these nikkas was in business with Dame themselves as heated as they sounded....Im trying to think of the last interview sumbody did that caused this much anger?Maybe them bytches who was accusing Bill Cosby come close,but that was 24 hrs at the most,this shyt is really sticking to nikkas ribs for some reason....maybe him and Dame can have CEO beef over the phone.

" I got the paperwork to prove it..." dude worked closely with Dame and if he was telling the truth, I could see why he might have disdain for Dame. He probably wanted to talk about Dame for thee hours lol. the black card/jewelry story

dame telling him "I cant believe they paying you" when he offered him solutions

he hinted that Dame took his tv idea .The radio host is another story. sounded like a lot of things booth posters were saying plus he has a show to express himself- also Keith Watson stories probably put a bigger charge in his back lol

 

[No1]

Now on the issue of the $68 mill coming up owed, that money would be owed to Jay by the company, not dame individually. But as owners of the company, each of their individual interest in the company has to be involved in paying off the debts of the company. In jays case, his ownership stake in the company is responsible, technically for 1/3 of the $68 Million debt, but it doesn't matter because he owes that money to himself. The other 2/3 of that money implicates dame and Biggs ownership stake. That's what dude was basically saying, but he wasn't bragging it all the way down.

Nah, I got all that. My thing is, Def Jam owned 50% of Roc-a-fella is I remember right. So Jay, Dame and Biggs only owned 1/3 of 50% individually. So how in the world would Dame owe that 68 million by himself? I believe that is what he was getting at when he said Def Jam made Jay president because they were not about to come out of the pocket for it. So that would mean Def Jam owned Jay 34 million approximately and Dame, Biggs and Jay each would owe Jay a little over 11 million with Jay's part obviously being irrelevant. You mean to tell me Dame and Biggs could not come up with a plan to pay a little over 22 million over the next several years? What kind of piss poor money management were they doing? I mean just in 2002, Def Jam paid each of them 22 million to extend the Rocafella partnership to 2005 (could be individually actually, I forget).

So I get Def Jam making Jay Z the President and how he got all his masters as a compensation package, but Dame should not have been that much in the hole. By late 2006 Jay Z was worth over 300 million and the dude who was his partner in everything owed 40 million taxes? Men should not owe that much money to other men. :damedash:

 

[criminology]

Here's the thing breh. Dame, Jay and Biggs were co owners of rocafella but Jay was also an artist on rocafella. Jay had multiple income streams as a result, publishing as a song writer, share of the profits of the company as an owner, show money, endorsements and appearances, etc, and that's all outside of his mechanical royalty on records sold.

What dude is saying actually makes a lot of sense. Figuring out the money that is generated from an album or even more complex,a career of albums is incredibly complicated, and requires extensive auditing, which means bringing in outside accounting firms etc to actually comb thru the accounting on a worldwide scale for an artist like Jay. Typically an audit of that scale will not happen until there is a dispute or falling out because it requires up front money just to do the audit. As a part owner, Jay would actually have to let the company incur a large expense of auditing to even determine his royalty, and in good times that probably want something he felt like doing, cause it would look like taking money out of his partners pockets to pay himself (and keep in mind everyone's eating, so it would actually just look greedy). So it actually makes a lot of sense that it wasn't until they were trying to dissolve the company and audit the finances that they would uncover things like that. The fact that Jay never took album royalties sounds crazy, but it's actually not that crazy when you consider he was also a part owner in the company, meaning he was sharing in company profits. It's similar to self employed individuals not taking a salary, or taking a very low salary. Ultimately you can cover most of your personal expenses thru the company revenue and you don't need to draw much of a salary from the company.

Now on the issue of the $68 mill coming up owed, that money would be owed to Jay by the company, not dame individually. But as owners of the company, each of their individual interest in the company has to be involved in paying off the debts of the company. In jays case, his ownership stake in the company is responsible, technically for 1/3 of the $68 Million debt, but it doesn't matter because he owes that money to himself. The other 2/3 of that money implicates dame and Biggs ownership stake. That's what dude was basically saying, but he wasn't bragging it all the way down.

Good break down. I was always unclear how Jay managed to walk off with his masters like he did. Why Def Jam offered that, etc. Does this factor into that? It seems like if dame and biggs were on the hook, so would def jam as they owned a huge percentage of the roc? Did it just come down to jay wanting to cash out and basically bankrupting the whole thing. Rather than DJ forking over tens of millions in cash, they gave him his masters and a job?

 

[Formerly known as...]

that is true.

but when ya play the @sshole you need some john blaze products, because talent is still number1. Look how the vikings are apologizing to adrian peterson! if dame had some good projects coming out and some good artist coming out.....he would be in space where he could work with more people, period.

I agree...But Dame is a hustler at heart. He isn't an artist or has a spectacular talent in 1 thing so he has to rely on others for example If he has a decent idea for a movie, hes gonna need a good director but if he is an a$$hole then he can forget that and that is why he continues to do things himself, because he probably finds nobody will fukk with him like that!

Spike Lee can burn some bridges because he is a great director and can make things happen, same with Jay, same with Lebron.

 

[Edub]

I don't think this means Dame is a bad business man...I think he just became competitive in business with a person he should have been an ally with in business...trust, between J's ego and Dames' ego the Roc was doomed, Nas cracked the flood gate, after that everyone became concerned bout their own ego....basically NEVER BROTHERS TO BEGIN WITH...which is why M.O.P never signed

 

[REdefinition]

he talking about what has Dame done?He helped make Jay into Jay-Z....If this is true its nice of Jay to not bring it up,so all that Reasonable Doubt masters,and being sick of Dames personality was some horseshyt all this time

Nice? He was probably embarrassed. Lets not forget how JaY dissed Nas and Mase for not being up on their business sh*t. His whole image was that of a savvy CEO businessman/Hustler. He would look crazy admitting he got finessed out of 68 mill/0 royalties for 8 straight albums

 

[Danie84]

Why y'all think the ROC's third silent CEO went back to nickel and dime (no pun intended)