Selling out = making a record you wouldn't have made without some producer or exec telling you that you need to do this or that.
By now you should have seen the Johnny Cash movie, and the part where he wears the black suit to the record company and says he wants to do a live album at Folsom prison, and the execs get really uptight about it and offer no guarantees because they think it sounds like a horrible idea.
That's a prime example of not selling out. He was pure until he did that covers album right before he died.
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