Play of the Day: Jeb Bush's Evolving Brand

The Iowa caucuses were Monday night, but late-night TV shows were taped before the returns came in. Late Show's Stephen Colbert joked about the winners being crowded "president of Iowa" while Jimmy Kimmel explained how the caucuses work.

Kimmel also joked about the one thing he would know about the caucuses before they started: Jeb Bush lost. In doing so, Kimmel looked at Bush's slogan's evolution: from Jeb! to a simple explanation of the four-year term for the president.