Following the official announcement and relaunch of the music streaming service Tidal, Jay Z sat down with Billboard to talk about the venture and much more. "We saw the movement and how everything was going and figured that this could possibly be the last music format that we see in this lifetime," he said.

Hov also made clear that this venture from everyone involved, which includes Kanye West, Beyoncé, Madonna, and others, is more about the music than making money. "It’s a very valuable part of your life, and like I said, that’s why we got in this business," Jay stated. "It seems to be going the other way. People are not respecting the music, and [are] devaluing it and devaluing what it really means."

On the long list of partners involved in the project, Jay said that he approached everyone personally to get involved and made clear that it was going to be an open forum going forward. "And I just believe as long as we’re on the side of right, and we’re in this for the right reasons, it will work. It’s just a big opportunity for everyone -- not a thing that belongs to any one person. That’s not fair, that’s not a democratic process, and that isn’t the idea behind it."

As far as any potential competition with Jimmy Iovine and Beats Music, Jay doesn't necessarily see it that way.

"My thing with Jimmy is, 'Listen Jimmy, you're Jimmy Iovine and you're Apple and truthfully, you're great. You guys are going to do great things with Beats, but you guys don't have to…you know, I don't have to lose in order for you guys to win and let's just remember that.' Again, I'm not angry, I actually told him, 'Yo, you should be helping me. This is for the artists, these are people that you supported your whole life. You know, this is good.'"

Jay Z's full interview, where he talks about expectations, goals, and much more for the streaming service can be read here.