Music Technology and the music business, instruments, advice,

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I'm in the performing side of Music and fighting my way through the jargon and technology of it is a battle. What is MIDI or WAV? Should I get KORG, Yamaha or Roland. Whats the differance in guitar types. How do you do this on that software or instrument. is this possible,Lets put our heads together and solve the mysteries of the music business. It could be an interesting and intuitive ride