Jay Z is patiently waiting in a studio in London to play me some tracks from his much anticipated “Blueprint 3”, the final album in a trilogy which began in 2001 and set a precedent that most other rappers and hip hop artists have yet to achieve. At almost 40, the man also known as Beyonce’s hubby is still on top of his game. A keen businessman – he has his own clothing line Rocawear, and was at the helm of Def Jam, before parting ways and setting up his own label, Roc Nation – and a discoverer of talents such as Rihanna, Jay-Z is a focused man. In fact, he is dead focused on his iPod, which contains much of the tracks of “Blueprint 3”. As he presses play, I realize that he remains the undisputed king of modern hip hop.

Is this album the new album, “Blueprint 3”, yet another new blueprint for rap?

Jay Z: Yes. I call it the new classic because it takes the traditional approach of making music, but it’s a blueprint for the next generation because the first generation was based on the soul samples and the music that I heard growing up. The second “Blueprint” was all over the place cos it was all my musical influences and I was pulling from Lenny Kravitz in rock to Sean Paul in R&B. This one is like we’re becoming those icons that we al looked up to, so we have to set a blueprint for the next generation.

In one of the tracks you talk about always making progress. Do you think many acts nowadays just find a niche and stagnate?

Jay Z: Yes and understandably so because of the way the Internet has affected the music business. The sales are down so now everyone has less margin for error. So they can’t just make music that they love. They have to make music to fit on the radio because they need the most impressions to sell the most records. But when you do that, it’s not always good because now everything just sounds alike because everyone’s trying to fit into this radio format. So it’s just me taking ownership in that and trying to make great music for the sake of making great music and hopefully people will follow that blueprint.

A lot of rap nowadays sounds the same, doesn’t it?

Jay Z: Yeah, only for those reasons. It’s like a Catch-22 situation. Before, a person could make an album and not have a record on the radio and still go gold. It’s not happening in today’s climate so there’s a lot of pressure on artists as well. But we still have to great music. We’ll figure all the other parts out later.

How come you make great music?

Jay Z: I love it, you know. I love to make music. I think you really have to love or have passion for something. I still try to make albums. This is not even a day and age of albums. Everybody makes their own albums. I concentrate on making full, complete albums. If you look at my career and the records that I’ve made, I’ve got it right more than I’ve got it right cos I concentrate on making an album. I don’t want to make two records a day and then have a shitty album. I want a great album.

Like you say in one song, “Men and women lie but the numbers don’t lie.”

Jay Z: (Laughs) Yeah, that’s right!

You also take a dig at critics when you say that they tell you what to do when they’ve never even done it…

Jay Z: Right.

Do you feel as though you get a lot of criticism from the music press?

Jay Z: Only because I get a lot of accolades, so it comes hand in hand. I don’t think I get an unfair share of criticism versus accolades. I get a lot of accolades, so some criticism comes with that. That’s just part of it. But I just use that as fuel.

You’re very self-confident and self-assured. Does that help you stay on top of the game?

Jay Z: Yeah. A lot of the time when you know who you are, you don’t have to pretend to be someone else, you’re happy with who are. I think you have longevity in this business. The worst thing to do is be successful as someone else because that comes to light soon. So once you have that self-confidence and you know who you are, you can make any type of record because at the core, you know who you are. Some people make records that are not them because they’re pretending to be something else. That doesn’t last. What lasts is true emotion and that is colorless, it has agenda. That’s how you can have sustained longevity over time because it’s you and it comes from a true place.

You worked with Rihanna and Kanye West. Do you have other collaborations as well?

Jay Z: I worked with a bunch of people: MGMT, Drake, Kid Cutty, Mr. Hudson… I’m missing some other people. And some other people! (Laughs)

Is there anyone on your wish list?

Jay Z: Bono would be a great person to work with. I think he’s cool.

I think he wants to be a rapper!

Jay Z: (Laughs) Yeah, that’s true! He’s good!

You said last night at the studio that you often work on the album until a day before its release. Do songs often pop up at the last minute?

Jay Z: I just got a track now. It might be something special.

Have you skimmed the deadline?

Jay Z: Yeah, the closest I got was “PSA”. “PSA” I made while the album was going to master. So I called and said, “Wait a minute, don’t master the album!” And I was in the studio making “PSA”, which is (raps): “Allow me to reintroduce myself, my name is Ho.” Imagine if I didn’t get that record, right?

You did a track with Kanye that was scrapped because you used auto-tune on it! What happened?

Jay Z: I have it, it’s on my iPod. It was cool. I actually liked it, but if you’re going to take a stance against something [Jay-Z has widely criticized the overuse of auto-tune], you have to follow through with it. I don’t hate auto-tune. I just hate that everyone’s following each other. It’s more about everyone following each other than the device. Let’s all do different things so the music can be diverse cos if we’re all doing one thing, it’s going to go through a real bad period. People are going to turn away from it. It’s like what happened with rock music. Rock music was stuck on hair metal bands. That was a big blow to rock that I don’t think they recovered fully to this day. And it kind of opened up the door for hip hop. And if we do that, we’ll open up the door for something else.

You have an ear for discovering new talents. Anyone on your radar lately?

Jay Z: I have two new artists that I’m looking at that could be really special. One is called J. Cole and the other one is Rita Aura.

Your songs often read like journals. They’re very introspective at times. Is it therapeutic for you?

Jay Z: Yeah, because in person I’m not really as talkative. My whole family’s like that. We keep a lot of things in. So for me, music is like therapy. It allows me to just say what I want to say.

You say a lot!

Jay Z: (Laughs) Yeah, I do.

I may have even heard something about The Game in one track?

Jay Z: What I was saying was in this song was, “I ain’t talking about Game.” Everyone’s like, “Yo! You have to make a diss record!” So what I’m saying on the record is I’m ready to talk about some real things; I’m not talking about that stuff. But of course he took it the wrong way cos he’s so crazy!

That’s so 2001!

Jay Z: (Laughs) Yeah, you’re right! That’s so first “Blueprint”!

Does it amaze you that this rift with The Game is still such a big topic of conversations?

Jay Z: Yeah. I guess it’s entertaining as well. A lot of the music press is like making a record. You’ve got to find the hook. When you find the hook, you take that hook and you go into it and then everyone picks it up. So it’s like a hit record, right?

What would you be doing if you hadn’t become a musician?

Jay Z: I don’t know. I’d probably be locked up or something, to be honest with you. I was successful when I was in the street as well. I don’t think I would have stopped had I not found something that I loved more or something that could occupy my time and pay well. I would still be doing what I was doing because I was having a good run in it, and that doesn’t last, right? Something would have happened. I would either go to jail or got killed. Hip hop saved my life, like that Lupe song (starts signing): “Hip hop, you saved my life.”

Do you think you’ve given hope to other young people in difficult situations?

Jay Z: Definitely. My journey has been well-documented and people have seen where I came from and where I am and they’re like, “Man, this guy’s from Marcy Projects. He’s not from somewhere that we can’t relate to.” So absolutely.

Would your music have been different had you grown up in L.A.?

Jay Z: Yeah, because my music is based on my experiences and my life, and I’m sure my experiences would have been different had I grown up in L.A.

There’s homage to your native New York on “Blueprint 3”. What is it about that city that captivates so many people?

Jay Z: It’s a melting pot of all different types of people, co-mingling and hanging out at the same places; the speed in which it moves, 24 hours a day; you can catch a cab to anywhere. Just the excitement and the feeling of the city is the center of the world. It really is. So many different types of creative people… it’s an incredible city.

You announced your retirement a few years ago. It didn’t work out too well!

Jay Z: I sucked at that! (Laughs)

Does the idea of leaving the stage still linger in your mind though?

Jay Z: I’ll always be involved in music in some kind of way. I will always make albums naturally. Music is something I really love. If I’m not making albums, I’ll be making albums for other people, discovering young talent.

Why did you leave Def Jam?

Jay Z: It was a great experience for me, but I’m more of an entrepreneur than a 9-to-5 kind of guy. I need the freedom to move.

Was it a learning experience for you?

Jay Z: Oh definitely, yeah.

So it’ll come in handy for your new label, Roc Nation?

Jay Z: Oh definitely. Just more technical things and budgets and different things like that.

You’re also a businessman. You’re like the Donald Trump of hip hop!

Jay Z: (Laughs) You just made up a new phrase! I’ve never heard that one!

And your next venture is to move an NBA team to Brooklyn?

Jay Z: Yeah, The Nets. It wasn’t my idea. The guy who’s the majority owner – his name is Bruce Ratner – had the idea to move them to Brooklyn. I’m from Brooklyn. For me, it’s a childhood dream. We don’t have a sports team in Brooklyn since the Dodgers left in the early 50s. To bring a sports franchise back to my hometown is like a dream come true.

The only thing you haven’t done yet is produce movies. Is that on your future agenda?

Jay Z: Yeah, absolutely. I think all this stuff is just part of an extension of being creative. The reason why I haven’t really approached it or took it on is because I want to be in the position where I can do the work. If you’re going to take on something or you’re going to be in a movie or produce a movie, you should really know what you’re doing. You should really have enough time to dedicate to it to put out quality work.

A lot of rap stars like Mos Def and 50 Cent have carved out an acting career. Have you ever been offered any roles?

Jay Z: Oh yeah, yeah.

What kind of roles?

Jay Z: Just all kinds. Over the years, hundreds!

You’ve never been tempted to accept one?

Jay Z: I’ve been tempted but, like I said, it’s not really my thing. For me, it would be more producing, more giving the vision than being the actor. I think I’ll get in my way. To be an actor, you can’t get in your own way. You have to have the freedom to have the character come to life. I’ll probably get in my own way! There are some things I wouldn’t do, like karate fight! (Laughs) And fake wrestling!

Who would play you in your biopic?

Jay Z: Oh man, I have no idea.

Denzel?

Jay Z: (Laughs) Denzel? He’s too good! I don’t know… Obama!

You were a huge supporter during his campaign…

Jay Z: Oh yeah. I’m happy for the hope he represents for the whole nation and worldwide. Everyone was excited and happy about this thing, which is great. We can move this in other direction because it seemed like there was so much tension with everybody around the world and this is the one thing that unified everyone.

Getting back to Jay the Businessman, where do you get your business acumen from?

Jay Z: The streets. Where I come from, you had to do… Cos my whole motto is do great business. It’s very simple. People complicate things with cheating people or different things like that. There was an honor and loyalty tied to business in the street that I took with me that really pays off for me cos that’s really just how you do business. If you can’t do something, you don’t promise it. My approach to doing business is to just be straight up about it, not complicate the business. It works pretty well, you know? And of course being associated with things that you can affect change, like you love. I know I can affect change with Rocawear and I know where the hook is, where to put the bridge in music. So the things you have passion about, you work on. I don’t know how good I’ll be in making doors!

Why did you launch a clothing line in the first place?

Jay Z: What happened was I was going to concerts wearing this clothing line called Iceberg, and everybody would have it on cos I was wearing it! So I went to Iceberg and said, “Hey man, let’s do a deal. I’m telling you, everybody’s starting to wear your clothes because of me.” It was like, “No!” We didn’t do the deal so we started our own clothing line.

They must feel stupid now...

Jay Z: (Laughs) They didn’t know… It was early on, to their credit.

Did they ever approach you after you became more famous?

Jay Z: Yeah. I met one of the ladies who worked with them. She was like, “Man, I remember that meeting!”

Last year, you were voted GQ International Man of the Year. Who would you vote for?

Jay Z: Kanye won last year, didn’t he? Let’s not vote for him. Let’s vote for someone else… Jack White, who wears a lot of black. I’m into black right now.

And Woman of the Year?

Jay Z: Rihanna.

Do you think Chris Brown’s career is over?

Jay Z: No. They’re young kids. No one’s condoning that – it was a tragic mistake – but young kids make mistakes and hopefully get past it. I think he’s feeling the repercussions of his actions. Sometimes when you make a mistake, you gotta deal with it. There’ll be a day when this is behind him, but for now he has to deal with it.

Getting back to music, what do you think of rappers who claim that, at 40, you’re too old to be doing this and they have to take over now?

Jay Z: That’s never happened in any field. The people choose who they want in that place. Even if I didn’t make another record, it wouldn’t mean that this particular person would be more famous. I don’t think you stop people from being famous. If people like Lil Wayne, they’re going to buy Lil Wayne. If people like Jay-Z, they’re going to buy Jay-Z. And that’s pretty much the end of it. I think it’s more like sour grapes on their part. I tell them to just work harder; you should be able to outwork an old guy!

Sour grapes and jealousy?

Jay Z: I think it’s only natural when somebody has been performing at a high level for a long tine for people to feel a little wary about it. I think that’s natural. If it were me, it would have inspired me to work harder.

Gangsta rap and bling bling seem to have died down…

Jay Z: It’s like a trend, like auto-tune! But I like diversity in music and I like growth in music as well, and I don’t think rap should be afraid to grow. Rappers can be around for as long as they’re making great music. I don’t think there’s an age limit on rap or anything like that. It should just be as wide and as big as it can be.

What do you listen to nowadays?

Jay Z: Just different things. The Drake mixtape is phenomenal - I think he did a great job with that. Kings of Leon, MGMT, stiff like that. It’s just all over the place. Jack White has a band – The Dead Weather. I saw them play. I think he’s brilliant. I think he’s a genius.

Do you believe that rap has contributed to the globalization of American pop culture?

Jay Z: One-hundred and fifty percent! I think that rap has done more for racial relations than most people – like 80%. Of course there are special people – Martin Luther King, people who put in incredible work – but after that, rap music. Racism is taught in the household, so it’s very difficult to teach racism when your child idolizes Kanye West! And then, on another note, hip hop has brought people together. It used to be black clubs and white clubs. That’s no longer the thing. Everyone parties together now. That’s a beautiful thing.

So is rap the new rock?

Jay Z: Yeah, I think the rebelliousness in it was replaced by hip hop for the most part.

Who’s the ultimate music star for you?

Jay Z: In our day and age? The closest thing would have to be Bono cos he does so many things. He’s had longevity, he’s made classic albums, he’s still relevant right now and he does so much for the world. He’s a complete human being.

You guys are friends. Does he ever give you advice?

Jay Z: All the time. He likes to talk! (Laughs)

Who’s the ultimate rap artist?

Jay Z: I think Biggie Smalls because he was so complete. He could make the darkest record and then he could make the coolest dance record. He was the most complete as a rapper to me. Here’s this big guy and he’s sexy. That’s very difficult to do!

Is there a moment in music history that you would have liked to witness?

Jay Z: I would have liked to have been in the house when Michael Jackson did the moonwalk. Or I would have loved to be in the studio when Quincy Jones and Michael Jackson made “Thriller”. I would have loved to hear it coming through the speakers; the decisions made to make “Thriller” what it was because there was a point where they took four records from “Thriller” and replaced them with four new records. Two of them were “Billie Jean” and maybe “Thriller”. I remember Quincy Jones telling me about this – they made a chart and then they put the chart up. When it was finished, they said, “Take off the four weakest ones,” and then they replaced them with four songs they thought were better than all those records. And that’s how “Thriller” got made. Wow!

Would you like to comment on Michael Jackson?

Jay Z: Yeah, he was a phenomenal entertainer, the greatest of all time, and we’re going to miss him. But what I’m most proud of is that his legacy is left intact. When someone does something like the way he did it, with passion, dedication and the love for it, their legacy should be left intact. So I’m happy that people celebrated him around the world the way they did. I only wish he would have got to see it.