Ben Horowitz and Erik Torenberg sit down with Nas, Grandmaster Caz, and Steve Stoute for a conversation about the Paid in Full Foundation and its mission to recognize and support the pioneers who built hip-hop.
Ben, Nas, and Steve share how the foundation began, why simply giving artists money wasn’t enough, and how the Hip Hop Grandmaster Awards became a way to pair financial support with the recognition many foundational artists never received. Caz brings the perspective of one of those pioneers, reflecting on his role in hip-hop’s earliest history and what receiving the award has meant for his life and legacy. They also discuss the enormous cultural and commercial impact of hip-hop beyond music, from language and fashion to some of the world’s biggest brands, why so many of its pioneers captured so little of that value, and what happens when generations of hip-hop finally come together in the same room.
Key Reasons Pioneers Were Left Behind
- Lack of Industry Blueprints & Gatekeeping: When hip-hop emerged in the Bronx in the 1970s, major corporate labels did not know how to monetize it. Early artists negotiated deals without legal or business experience, often signing away long-term rights.
- Loss of Publishing and Master Ownership: Many creators did not understand or control publishing rights (the ownership of the underlying lyrics and composition) and master recordings (the physical or digital sound recording). Record labels and outside investors captured the long-term passive wealth.
- Uncredited Work and Stolen Ideas: Pioneers regularly missed out on royalties and credits for foundational work. For example, Grandmaster Caz wrote lyrics for “Rapper’s Delight” (the genre’s first major commercial hit), yet went uncredited and uncompensated for a multi-platinum record.
- Absence of a Social Safety Net: Unlike mature corporate or entertainment industries, hip-hop lacked a structural framework like social security, health insurance, or artist pensions to protect aging creators.
- Capitalist Extraction: As detailed in discussions surrounding philanthropic efforts like the Paid in Full Foundation, corporate systems commercialized hip-hop’s fashion, slang, and sound globally while treating the originators as disposable.