Lorne Michaels had nothing to lose on October 11, 1975, when Saturday Night Live first aired. He doesn't pull all-nighters any more in preparation for the week’s show, but Michaels tells Alec he is still anxious on Saturdays at 11:30 pm. Michaels believes in the power of live performance and gives SNL hosts the best bits. But aside from the funniest lines, the irreverent Michaels offers little protection. Alec is no exception.