He has has worked to influence legislation on the issues of digital music, file sharing, and musician's intellectual property distribution rights.

He began his career in the music industry in 1968 at Geffen and Roberts Management alongside industry names such as David Geffen, his childhood friend Elliot Roberts, and Irving Azoff where Stone helped to manage the careers of Neil Young, Joni Mitchell, Eagles, Crosby, Stills, Nash and Young, Bob Dylan, The Band, Devo, America and Tom Cochrane.

Later, with John Silva as a partner, Gold Mountain guided the careers of Nirvana, Beastie Boys, Beck, Rickie Lee Jones, Foo Fighters, Sonic Youth, Tracy Chapman, Ziggy Marley, The Baha Men, Joss Stone, Sophie B. Hawkins, and many others.

Stone was also the founder and president of Something Music record company in partnership with Tony Valenziano and Kevin Day from Rocket Science.

"[1] Stone founded and ran World Domination Records in partnership with Dave Allen (Gang of Four and Apple/Beats) for ten years.