With Leno and Letterman departing and Fallon and Colbert stepping in, the target demographic for network late night has been shifted down by 30 years. We are the target audience now, finally.
I actually will make the prediction that, Colbert is going to beat out Fallon in the end. Colbert has a lot more wit and substance. I've watched a couple hours of Fallon's show and I never even crack a smile. In fact I get annoyed at his fawning, airheaded nice guy schtick. Colbert has had me in fucking tears several times over the years.
We are a much more cynical generation than the one that watched Carson, Leno, and Letterman. You can't just gee-shucks your way to success with us. Colbert has edge, and wit, and on a whim will say things that are just bring-the-house-down funny.
I'll never forget when Arianna Huffington was on during McCain's bid for president and was making fun of his "passion" for winning the Iraq war and talking up "the surge," joking that it was "his viagra." Colbert said: "I guess the warning label on that should be, if your erection lasts more than 10 years, pull out?"
Fallon could never dream of such a funny riff, much less do it on the spot and deliver it perfectly.