Music mogul Jay-Z and hip-hop artist Meek Mill have a started a new business venture with the announcement of Mill’s new record label: Dream Chasers. 

The label is a a joint venture with Jay-Z’s Roc Nation and is a major business move for the 32-year-old activist.

In an excerpt of their interview with “CBS This Morning” co-host Gayle King, Mill and Jay-Z open up about why they think it’s important to establish a legacy as entrepreneurs for the next generation of artists and their shared backgrounds.

“The music and culture we create, you know we’ve been giving it away for so long. Which is understandable, you’ve got to start somewhere. You’ve got to clean the floors up before you own the building but we don’t shine shoes anymore,” Jay-Z told King.

Check out more of the interview here.

Photo Credit: Kevin Mazur/Getty Images for The Reform Alliance