As late-night television declines, The Tonight Show host is preparing for tomorrow by building an entertainment empire based on his irrepressible joy. The abrupt cancellation in July of The Late Show with Stephen Colbert—which CBS claimed was losing $40 million per year—prompted many to declare the imminent demise of late night, adding a level of urgency to Fallon’s side hustles. Fallon averaged more than 4 million viewers in his first season, a staggering number by today’s standards, and dominated late night for the better part of three years. David Holloway/Getty ImagesWhile Fallon regularly pokes fun at Trump, he also famously tousled the future president’s hair on his show. But don’t prewrite The Tonight Show’s obituary just yet.