Because Time magazine didn't want to waste a reporter resource to interview Chevy Chase, they decided to have him answer questions sent in by readers. One of them asked what he thought of Jon Stewart and Stephen Colbert, and he oh so humbly took credit for their success. "My ego tends to think that, you know, I started it with my Weekend Update," he responds, implying that the ideas for both The Daily Show and The Colbert Report came directly from WU.
In a way, he might be right, as his fake newscast came before theirs. But TDS and TCR are so different from Chase's newscast, that his claim of "starting" it is tenuous at best. Never let it be said that, despite a declining career, Chevy didn't still have his mid-career ego intact. At least he admits to it.
Just in case anyone was wondering, when left to his own devices, here is what Chevy Chase came up with - one of the biggest train wrecks in television history. Just painful to watch.