They really nice but they'll never touch the cup its like I gave it to two girls
Lupe recognizes Earl’s talents, but says that he’ll “never touch the cup”. The cup, in this context, most likely refers to the Holy Grail, which keeps in theme with the song’s title. Lu’s use of “they” instead of “he” is to keep in line with the use of “2 Earls” in the above line.
More literally, however, Lu may be referring to Earl not being a fan of Jay’s album Magna Carta Holy Grail.
The Grail ultimately represents a mythical object that has never been found. Throughout the song and particularly the later verses, Lupe seems to draw a parallel between the concept of a ‘greatest rapper’ and the Holy Grail — in that neither truly exists.
At first glance, this line may come off as a diss to Earl Sweatshirt but rest assured — it’s not. If anything, Lupe’s praising the young MC, who at only 19 years old is critically acclaimed for his mixtape Earl and his debut album Doris, which is one of the most anticipated albums of 2013. Lupe’s also spoken about his anticipation for Earl’s album here:
Lu also makes reference to the Fetish-Porno Two Girls One Cup. I would go farther in explaining it, but it’s an experience you have to see yourself. Suffice it to say that once those two girls are done with the cup, you wouldn’t touch it either.
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