When I backed out
Let one out, let the barrel turn

from Jay Z (Ft. Memphis Bleek) – Can I Live II Lyrics on Rap Genius

Meaning

When Bleek dropped out of high school. The “let one out” part of this lyric can be viewed as either
1. a yell
2. a shot.
He also speaks of letting the barrel (of the revolver/.44) turn.

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