HOT TOPICS | Stephen Colbert's Last Show & the Monsters Applying for Trump's Slush Fund Money

Don Lemon argues that late-night television, as a format, has passed its expiration date. It was built for a world where people watched the same shows at the same time, a reality that no longer exists with the proliferation of streaming and on-demand content. He views Stephen Colbert's 'Late Show' tenure as a 'brilliant talent in a sinking ship,' constrained by a format that is fundamentally dying.

Lemon states, 'late night television as we know it has passed its expiration date. It really has. And watching that last night really made me realize it. I was like, it just felt dated to me.' He adds, 'The format was built for a world that really no longer exists.'

Lemon distinguishes Stephen Colbert's 'Late Show' from 'The Colbert Report,' asserting that the latter was a true invention. Colbert created a character and format that surgically exposed the flaws of right-wing media by outperforming it. This original creation changed the media landscape and ushered in an era of satirical journalism, demonstrating Colbert's unconstrained talent.

Lemon highlights, 'The Cobar Report... is where the real Steven Cobear lives. That is the thing that he actually invented... He looked at the landscape of right-wing media... and he put on the costume, he became the character. He played it so perfectly, so precisely, surgically... he exposed the entire thing from the inside.'

Both Lemon and Joy Reid emphasize that talent is an inherent, infinite resource within a person, not derived from or dependent on an institution, desk, title, or network. They argue that institutions often perpetuate a lie that talent is tied to them, keeping individuals 'grateful and compliant and small.' When freed from these constraints, talent can build something 'bigger and freer and more honest.'

Lemon states, 'The talent was never in the desk. The talent was never in the network. The talent was never in the format. The talent is in you. And the talent always wins.' Joy Reid echoes this, 'You can't keep a creator down with corporate [expletive].'

Joy Reid presents statistics demonstrating the disproportionate representation of white men in positions of power across various sectors, despite comprising only 30% of the U.S. population. She cites examples in politics (senators, congresspeople), business (CEOs, angel investments), and media (Hollywood writer rooms), arguing this is a factual reality of 'failing up' and a key reason for traditional media's downfall.

Reid states, 'White men are 30% of the US population... Yet 65 to 70% of United States senators are still white men. 70 to 75% of CEOs are white men... In Silicon Valley, 60 to 70% of leadership roles are held by white men.' She adds, 'The writer rooms in Hollywood are like 90% white men.'

The hosts discuss allegations that Donald Trump saved $100 million in taxes and issued an executive order to prevent future IRS audits, while simultaneously promoting a $1.7 billion 'slush fund' for his political allies. This is framed as a plan for self-enrichment at the expense of ordinary Americans, who face rising costs and regular audits.

Olivia James states, 'Trump just saved himself $100 million in taxes... He signed an executive order so he never has to be audited again.' Daniel Grimes mentions 'that nearly $1.8 billion slush fund for your allies.'