Any respectable artist has really given up on a label because the labels are still kidding themselves that the only way to go is to sign these big names like Lady Gaga and expect to make gazillions.

You could make some great sounds with technology. That's what recording is all about. What happens in the studio is very magical, and should be, in my opinion.

Every time I meet the CEO of a record label I tell them how they did it in the seventies because they want to know. I tell them, "Sign a hundred people! Throw it against the wall and see which ones stick!" And they frown and say, "Oh, we can't do that!" and they start mumbling about demographics and this and that.

Towards the end of the seventies pop was gaining the momentum and respectability was very high with groups like Yes and Queen who were making "classical" rock records. They were also bringing in big bucks. So the eighties became the "bottom line" decade.

But some great records are are being made with today's technology and there are still great artists among us. Likewise there are artists today who are so reliant on modern technology, they wouldn't have emerged when recording was more organic.

Rock and Roll has certainly tried to take its toll on me. I'd rather not talk about my past excesses here, although some hardcore rockers might argue that those excesses were responsible for some great records, but I know which side I came out on.

You don't necessarily need expensive gear or giant budgets to reach an audience.