Podcasts ate the late-night monologue, and the autopsy is awkward because the patient is still on air. The monologue used to set tomorrow’s news cycle at 11:35. Now it’s a podcast host with a ring light, a two-hour runtime, and no network gatekeeper doing the setting — and the clips that go viral are pulled from the feed, not the broadcast.
Late night isn’t dead. It just lost the monopoly on the joke that travels. The audience didn’t leave; they followed the bit to where it could breathe.