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It’s the end of an era. And that era has largely been defined as television’s greatest feud in history. It began as Dave v. Jay, then Jay v. Conan, and in round three, Jay finally stopped swinging and stepped down. NBC knew that if Letterman retired, CBS would poach Fallon, which would create too much competition for Jay who would presumably lose his audience around that time. The real tragedy here lies with Conan, who is likely self-loathing about not waiting long enough for the coveted spot. Had he stuck with it, the network would have gifted him the spot without the drama.