Carson was late night's last true love



On the evening of May 22, 1992, The Tonight Show host Johnny Carson hop-skipped through the curtains at the NBC studios, gave a little bow and held up his hands to hush the crowd, as he always did. "Thank you," he said. "Thank you." He must have said thank you 30 times that night, with little effect. The audience just wouldn't stop clapping. "We love you," somebody cried when the racket finally started to die down. "I love you too," Carson replied.

The relationship between celebrities and their fans tends to be fickle - today's undying devotion is tomorrow's disregard. The connection between Carson and the American public was a rare exception. People really did love Johnny, and Johnny really did love them back. You could see it in his face as he flapped his arms on the stage that night, trying to get a word in. Even today, it's hard to watch this clip without welling up. This was the last time Carson would host The Tonight Show, three decades and 22,000 guests since he'd first stepped onto the stage. Something like 50 million viewers had tuned in to watch as he began his final opening monologue: "Look on the bright side - at least you won't have to read or see one more story about my leaving the show."

Until recently, this reel and the thousands of others Carson recorded were stored in a disused salt mine in Kansas (Carson, who died in 2005 at the age of 79, would have had fun with the salt-mine bit). This month, though, the Carson Entertainment Group announced that the surviving Tonight Show archive (videos for the first decade of the programme, sadly, were taped over by frugal NBC execs) has been digitised.

While this won't make much of a difference to regular Carson fans - for now, the digital library is only available to industry professionals, such as producers wanting to use a clip of the show in a film - Carson Entertainment plans to release 50 episodes on DVD, and will also upload some of the clips onto johnnycarson.com, which is a wonderful thing, even if the majority of people under the age of 50 don't know it.

There was a time when Johnny Carson was the most famous name in US television. Even today, as we approach the 20th anniversary of his final show, he remains massively influential. In its heyday, an appearance on The Tonight Show was a prerequisite for anyone hoping to break into TV. Not only did Carson cast the mould for the likes of David Letterman and Jay Leno, he introduced them to the world. But Carson's influence went beyond this. While late-night talk had existed before he came along, nobody had done it quite like him. In the early 1960s, chat shows were still starched and scripted affairs, once removed from their audiences. Carson changed all that. He was spontaneous and informal. He made viewers feel as if they were somehow there. This was part of his appeal: it was like being invited to a great party.

And nobody enjoyed these things more than Carson, which brought his audiences closer still. One of the things we loved about Johnny is that he spent as much time laughing as he did cracking jokes. There were times when he'd be helpless with it, unable to do his job. And his guests picked up on this, too - people were always at their funniest and most charming when they were on The Tonight Show. Even contemporary masters of late-night have failed to recreate this quality. Letterman's a little too abrasive to put his guests fully at ease, Leno's a touch too smug. Worse yet, the new generation of hosts - the likes of Jimmy Kimmel and Chelsea Handler - deliberately rub people the wrong way. Carson very often teased his guests, but these guys taunt them. Late-night audiences, meanwhile, continue to dwindle.

Johnny Carson ushered in the era of late-night talk, but he also made life difficult for those who followed - you could say that the genre peaked too soon. In this regard, his final show marked the beginning of a long decline. This fact makes Carson's recent debut into the digital arena even more of an occasion, and it makes clips of that show even harder to watch. Carson was too much of a pro to cry on that last night. There was grief on his face, but he didn't crack. Instead, he simply perched on that stool of his, as he always did in the dying seconds of the show, and quietly bid his audience goodnight.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

Directed by Sam Mendes

Starring Dean-Charles Chapman, George MacKay, Daniel Mays

4.5/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

MATCH INFO

What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

It

Director: Andres Muschietti

Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor

Three stars

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances