Masters in Business Jay Leno on the Future of Late Night & Car Collecting
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Dec 26, 2025 
Jay Leno, the iconic comedian and former host of The Tonight Show, shares his insights on the shifting landscape of late-night comedy. He reminisces about his impressive collection of over 214 classic cars, detailing how he chooses them and the emotional stories behind some rare finds. Leno connects his passion for cars and watchmaking, valuing the artistry and mechanics in both. He discusses the impact of streaming on television, defends free speech in comedy, and shares hilarious anecdotes from his time interviewing presidents, making for an engaging conversation.
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Self-Taught Mechanic Origin
- Jay Leno bought his first car, a 1934 Ford, for $350 and taught himself to fix it over a couple of years.
- He drove it daily to school and learned mechanical skills by hands-on tinkering.
Collection Is Active Maintenance
- Leno manages a 214-car collection and treats maintenance as ongoing work rather than a status symbol.
- He rotates cars by working on one and then driving it to check fixes, making upkeep the selection rule.
Cars As Kinetic Art
- Leno sees automobiles as kinetic artwork; modern collectors value design and provenance alongside function.
- Exceptional cars can command prices comparable to fine art due to rarity and aesthetics.