504 is the area code of New Orleans, LA, so Drake is telling all of the New Orleans girls to dance. This also continues the allusion to Cash Money Records, since the label was founded in New Orleans

John West’s getting richer, more famous, every day. Also, “Giant Steps” is the title of one of legendary saxophonist and composer John Coltrane’s best-known songs and albums:

http://www.youtube.com/watch?v=30FTr6G53VU

Jay-Z and R. Kelly’s collaborative album The Best of Both Worlds was highly anticipated and was released in March, 2002 – one month after Kelly’s infamous video. The album thus did not receive a lot of attention, and the artists were never able to tour on it. They titled their follow-up collab Unfinished Business in a nod to this situation

That would be So Far Gone, which he has mentioned on this record before. Drake still has hurt feelings over his Grammy loss. In an interview with Billboard he stated:

But the one [Grammy defeat] that really got to me was when I lost to “D.O.A.” for “Best I Ever Had.” That one to me was, like, really? Not to say that Jay-Z isn’t the most incredible rapper and that “D.O.A.” wasn’t a good song. I just felt like they had an option to give me a Grammy for a mixtape, and they just didn’t do it [laughs]. Because it goes against the grain of everything that is traditional

I don’t measure my success anymore by the Grammys. I can’t because I’ll just end up crushed. And, not to be offensive, I just feel it’s political. Would I love to win a Grammy? Sure. Will I win one after that comment? Probably not

Drake would win the Grammy for Take Care.

Before Drake had all this money there was tension in the house about how he spent it — like the time he leased a Rolls Royce before he could afford an apartment.

Drake’s parents divorced when he was five, and he was subsequently raised by his mother, though he spent summers with his dad. Drake doesn’t want to be like his dad so being compared to him, especially by his mother, makes him angry.

Drake has acknowledged the similarity before:

Damn, where I get it from? These niggas always wonder who
Then they meet my pop and tell him, “Drake is just a younger you”

Drake is referring to a “sugar daddy”, a man who gives a girl money and other things in return for sex. He’s paying her tuition, and the only reason she even stays in contact with him is because she feels she has to so that he will keep giving her money.

Georgia State University is a college located in downtown Atlanta, Georgia. The school actually landed on Huffington Post’s list of Top 20 Sugar Baby Colleges.

Drake’s new style has been influenced greatly by Houston’s famed rap scene, especially the Screwed Up Click and UGK.

His shit will sound even more H-Town soon – he is releasing a special OG Ron C edition of the Take Care album – i.e., the album will be “chopped and screwed”.

Ron is a legendary H-Town mixtape DJ who co-founded Swishahouse Records and was one of the first people, along with DJ Screw, to do the now-famous “chopped and screwed” mixes of songs. Here’s a link to “Headlines” chopped and screwed by Ron.

He’s also referring to his and 40’s love of R&B music. The group “H-Town” shares the same name as the nickname of Houston, his favorite city (outside of Toronto, of course). Double entendre swag.