In an in-depth conversation with Jason Gay of the Wall Street Journal, Fat Joe offered a scathing critique of the major record label system and explained why he doesn’t regret going independent. 

According to Fat Joe, the entire major label system is a “ponzi scheme” stating that “I don’t believe in these people” with reference to labels. “For one, I feel like the major label system is a Ponzi scheme and they do funny math. Whenever you try to see something in life, they say numbers don’t lie. If you look at a chart and the numbers are so clear where you could say, ‘The price of this is this, the price of this is this…’” Joe continued, “And then when you look at [their] chart and they say 62.1%, 1.2… it’s funny math.”

Fat Joe then recalled some of the horror stories he heard from fellow artists about their dealings with major labels. “I was talking to [Jennifer Lopez] about it and you know, J. Lo is a megastar and she was like, ‘Man, you know these guys, they only give you this. You never recoup, you know,’” He even spoke about the disrespect he received from label heads over the years, particularly an interaction he had while signed to Atlantic Records.