I bleed out the speaker
As the speaker that spoke when they didn't speak
Speaker is a double entendre for speakers, i.e. stereos and a speaker, i.e. one who is speaking.
So there are two readings of this line:
1) When you hear his voice “bleeding” from the stereo speakers, he’s the person voicing a truth which no one else has the courage to say.
2) Whenever someone reiterates the ideas Kendrick expresses in his songs, it’s like he’s talking, even though he “didn’t speak.”
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