BallerStatus.com: Do you think his business ethics are bad?

Jadakiss: Diddy learned from somebody else. Now that I’m grown and understand the game, I can’t really be mad at what he learned. This business was here 100 years before Diddy became a CEO. He makes his business and his contracts beneficial for him, which there’s nothing wrong with that. If you conducting business and you got the right lawyers that’s telling you to write what these contracts are saying, at the end of the day, when you’re signing any contract it should be beneficial for you. But if you’re just blind to the fact and you’re just happy to be down with Bad Boy like [The LOX] was ’cause it was so hot, we just signed some sh** we didn’t really look at ’til two, three years later. And this is happening today. There’s going to be a bunch of people making books like Mark Curry. There’s going to be a bunch of more people riffing with label heads about publishing and money that’s owed to them, so that’s going to always go on, because if you don’t pay attention, it’s really on you. He can’t do nothing contractually that you didn’t agree to.

Interview via BallerStatus (Shout out to Monique B.)

I guess you don’t become rich by being honest and fair.

Damn they about a month late with this one.

Take that, take that….

Props WooHa

Title: Dancing With The Devil: How Puff Burned the Bad Boys of Hip Hop by Mark Curry

(Chapter 1) “Puff charged the artists for his appearance on their records and videos, usually without [them] realizing it until they receive their royalty statements. That’s when they discovered that their large sums of money had gone to fees which were doubled, tripled and even quadrupled because of Puff’s ’special appearances”. For example, he would charge artists for having his Bentley in their videos-which he insisted upon- then took tax credit for business use of a car.”

(PAGE 79) Despite amazing record sales Mark Curry claims that Biggie resorted to selling dope and homemade duplicates of his cd from the trunk of his car just to earn spending money

(Page 94) Jimmy Henchmen told Tupac “why you blaming Puffy and Biggie. Them n*ggas aint got nuthin to do with this shooting. Nobody came to rob you. They came to discipline you and that’s what happened”

He writes that Puffy lured G Dep with a $350,000 signing advance and a 5 album deal. Puffy did not offer him any counseling on how to handle money. After he spent about 1/6th of the money he discovered taxes, production contracts and stipulations held up the rest of his money. In less than 6 months G Dep was broke, in debt to Puffy and lost himself to drugs

Via Necole Bitchie