Rappers came and went, I've been here from the start
I seen them put it together, watched them take it apart
Jay has been in the game for a minute, he has withstood the test of time (in addition to challenges from other rappers) and still managed to remain relevant
He’s been around so long, he’s literally witnessed the development of it (i.e. hip hop) and watched them take it apart (Drake? Bieber?!?!)– Hov had to come through with Death of Auto Tune!
At the end of the day Jay is still here and still on top
Jay could be referring to the turmoil going on at the time (and continuing until Kanye’s second album) at Roc-A-Fella. In this, he literally watched them put the label together and tear it apart.
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