Fat Joe and the Reality of Record Labels: A Musical Ponzi Scheme?

In a recent session on a live broadcast of Instagram, Fat Joe, also known as Joey Crack, dropped some bombshell truths about the dark side of the music industry that left more than one person with their mouths open. With more than two decades in the game, this veteran of the rap still has outstanding accounts with the major record labels, and not precisely because he has lost control of his expenses.

Reflecting on his words from last year, where he compared record labels to Ponzi schemesJoe delved into how these music giants prey on artists looking for their big break. "They give you money to record and then take it all when it comes to making videos and more," he added. According to him, these companies are nothing more than a bank that invests in the talent of promising young artists, only to then lock them into debt for life.

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«They asked me if I prefer independent or a major record label, and I said that major record labels are a Ponzi scheme", Joe shared. What Joe meant to say is that, despite the fame and the million-dollar sales, the system is designed so that the artist never sees the color of the real money. «You even bring a scientist who won the Nobel Prize to do the math, and they can't figure it out. It's outright theft."

And it's not that Fat Joe hasn't had hits. We're talking about someone whose 2001 album, "Jealous Ones Still Envy (JOSE)", sold more than a million copies. However, despite those impressive numbers, the accounts don't seem to add up. "I sold two million records and I still haven't recovered the investment," he reveals. This led him to reflect on the benefits of being a independent artist, where, although sales are lower, real income may be significantly higher.

The change to the independence It wasn't a whim. Inspired by the shady dealings he experienced under the wing of the major record labels, Joe found in independence a way to truly capitalize on his talent. "I don't believe in these people," he said of record labels, criticizing their "fun math» and the way they handle numbers.

Fat Joe Not only has he been vocal about the challenges of dealing with traditional record labels, but he has also found a new path of success and financial freedom as an independent artist. Her story is a powerful reminder that, in the music industry, the size of your sales doesn't always define the success of your career, but how you manage your earnings and you take control of your own art.