David Letterman does what only David Letterman can do, and that's boil down a complicated situation for easy digestion at home. On Tuesday's show, the 'Late Show' host talks at length about the unprecedented (not to mention thrilling-to-watch) implosion happening at his old network, NBC, concerning its late-night hosts.

"You know what this means -- that's right, I knocked off another competitor," he joked in his monologue, referring to Conan O'Brien's decision Tuesday to leave NBC if they move 'The Tonight Show' to 12:05 a.m.

At his desk, Letterman spends several minutes mocking Jay "Big Jaw'd" Leno -- complete with an impersonation -- and the "geniuses" at NBC programming who devised the 'Jay Leno Show.' He also predicts Conan's next move. Watch: