I'm laughin' at you old niggas, Redd Foxx

from J. Cole (Ft. Jay Z) – Mr Nice Watch Lyrics on Rap Genius

Meaning

Redd Foxx was a comedian best known for playing the cantankerous old junk dealer Fred Sanford on TV’s Sanford and Son

Also note Cole’s use of Big Sean’s now famed so-called Supa Dupa flow on this line.

(Isn’t Jay-Z one of the oldest rappers in the game? That must be awkward…)

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