Of a nine-part Pink Floyd composition written by Roger Waters, Richard Wright and David Gilmour, this is a tribute to former band member Syd Barrett. He was their lead guitarist and wrote most of their early hits, but was eased out of the band in 1968, due to erratic behavior patterns. Substance abuse played a big role in his mental illness.
Word has it that Barrett, with a completely shaved head and eyebrows, wandered into the studio while the band was recording Wish You Were Here, although Nick Mason has since stated that he is not entirely certain whether "Shine On You Crazy Diamond" was the particular song being recorded when Barrett was in the studio. Because of his drastically changed appearance, the band could not recognize him for some time. When they eventually recognized Barrett, Roger Waters was so distressed he was reduced to tears.
Someone asked to play the song again and Barrett said a second playback wasn't needed when they'd just heard it. Apparently, when "Wish You Were Here" was played, "He stood up and said, 'Right, when do I put my guitar on?'" Wright recalled. "And of course, he didn't have a guitar with him. And we said, 'Sorry, Syd, the guitar's all done.'" When asked what he thought of Wish You Were Here, Barrett said it sounded a "bit old".
The track was first performed on their 1974 French tour, and recorded for their 1975 concept album Wish You Were Here. To me, this track defines Pink Floyd and its signature progressive psychedelic style. It, undoubtedly, is the best produced pieces of music, that nothing could rival, ever!
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With inputs from Wikipedia