The first point in this article rings so true.

1. He thinks a little too much is being made of this late-night competition. “It probably is not a smart thing to say, but when you add up what percent of America is watching late-night television at 11:30, you come up with around ten,” he says. “That means that 90 percent of people watching television are not watching any of the shows, and yet we get all of the attention. It’s a strange thing. I mean, our competition really is people watching prime-time shows on their DVRs; that’s what hurts late-night television. People come home from work and they wanna catch up on Game of Thrones, and we’re the victim of that.” As for whether he’s going to be pulling audiences from Leno and Letterman, he doubts it. “I don’t think there’s a ton of crossover. In fact, the research shows there’s not a tremendous amount of crossover between the talk shows. A lot of it, truth be told, is what channel they happen to be watching the news on. And then if they’re interested in your guests, they’ll stick with you.” (His guests tonight, by the way, are Jennifer Aniston and No Doubt.)

In the end, these late night hosts really are competing with set top boxes and pre-recorded shows — not each other.