As David Letterman quickly approaches his final Late Show on Wednesday, logical throne inheritor Stephen Colbert appears to be gearing up for his next phase of cultural domination. Speaking to Wake Forest University graduates on Monday, Colbert delivered a hilarious and touching speech sprinkled with the same sense of slightly absurdist anecdotal charm from his days as 'Stephen Colbert' on the The Colbert Report. The process of shedding that character's satirical conservatism ahead of his Late Show debut in September seems to be going quite smoothly indeed.

Perhaps the most quotable moment was largely joke-free, with Colbert speaking passionately on the importance of establishing and maintaining personal standards — regardless of one's career or general occupation.

"Any standards worth having will be a challenge to meet. And most of the time, you will fall short. But what is nice about having your own set of standards is that — from now on — you fill out your own report card. So, do yourself a favor: Be an easy grader. Score yourself on a curve. Give yourself extra credit. You have the power. You are your own professor now. Which I know is a little creepy because that means you’re showering with your professor. But you have tenure. They can’t fire you."

Watch the full speech above via CBSN.