He is talking about fans that listen to more mainstream rap music, who are only listening to who’s “hot” right now. Those are the same people that should “watch” from the back because this is real hip-hop and those are the people that made Trinidad James famous since he had a nice beat and a catchy hook. His raps aren’t much without a beat and a hook.

http://www.youtube.com/watch?v=ud7rZnutlIg

This however seems to be a contradiction of his sentiments about Trinidad’s mic skills late last year. Saying T. James was “ill.”

http://www.youtube.com/watch?v=iM8aUFnOReA#at=37

Reference to the 2009 movie staring Jamie Foxx, and Gerard Butler.

In the movie Gerald Butler was a law abiding citizen till his wife and daughter got murdered but the criminals didn´t go to jail for it, so Butler took justice in his own hands and killed them. This is Budden’s situation now he is taking it in his own hands to “kill” Kendrick Lamar since nobody else could do it.

Mobb Deep was famous for their street/gritty subject matter which they became famous for on their album The Infamous.

The purple tape is a reference to Raekwon’s album Only Built 4 Cuban Linx which was in purple cassettes to distinguish it.

Then he shouts out Inspectah Deck who is also in Wu-Tang Clan along with Raekwon. He is probably shouting him out because he doesn’t get the credit he deserves, since he never made a classic solo album. For example, his verse on “Triumph” is regarded as one of the best verses of all time.

Joey’s point is there are plenty of NY rappers that deserve the “King of NY” title. This line also highlights all the rappers Joe had problems with in the past (i.e. his Inspectah Deck beef).

Primadonna is italian for the leading lady of the opera back in the day. They were very demanding and Diva-like. More commonly known as drama queens, meaning they only care about there own problems not lookig at the bigger picture. Thats whats his friends are doing, acting like some egocentrical girls. Nas got his own problems to deal with:

How in, the hell am I supposed stay comfy
When I pay child support, alimony monthly?

Could be a double entendre… with primadonna sounding like pre-maddona, refering to the singer Maddona when she is younger. That was behaving like that and was a wet dream for any paparazzi.

A lot of people put Kendrick as the number one rapper right now and this is probably a shot at the controversial MTV´s Hottest MC in the game list, since he rarely listens to him at all. He’d rather listen to golden era music(past rhymer) and goes on to name some of the greatest albums of all time like Nas´ Illmatic and Biggie’s Ready To Die etc

A pun on Kendrick’s song Bitch Don´t Kill My Vibe. Fred just assaulted him with his lyrics, therefore killing his vibe.

RIP Big L street struck (1974-1999).

Famous for his clever punchlines and freestyles. There will truly not be another Big L. Coleman was killed in the doorway of 45 West 139th Street in his native Harlem on February 15, 1999 after being shot nine times in the face and chest. Gerard Woodley, one of Coleman’s childhood friends, was arrested in May for the crime. At the time of his death, Coleman had two brothers in prison. A spokesperson said this for NYPD:

It’s a good possibility it was retaliation for something Big L’s brother did, or Woodley believed he had done.

Nowadays the mainstream hip hop is just like he says about nice beat and hook — not about the lyrics. A topic numerous artists have rapped about. A prime example is Eminem’s song “Syllables”.
http://www.youtube.com/watch?v=te_khicYOCI

Fear of a Black Planet is a classic hip-hop album by Public Enemy with politically charged material.

Toe tagging which of course refer to kill someone because when people end up on the morgue.

Then compares how she makes motorbikes out of gas to hoes out of gas meaning they are tired. Perhaps from a fight or just because how good/succesful she is.