John Mulaney describes his weekly Netflix talk show as “a throwback in some ways.” Indeed, it seems to draw inspiration from numerous 20th-century late-night hosts, from Dick Cavett to David Letterman to Conan O’Brien.

“It’s almost like the way you might remember a bunch of shows from the past, but it’s not exactly what they were like,” Mr. Mulaney said in an interview from his sun-soaked office in Hollywood. He was between meetings, gearing up for the latest episode of his show, “Everybody’s Live,” which appears Wednesdays at 10 p.m. Eastern.

“No element is new,” he added, “but the way they’re being laid out might feel a little bit.”

Mr. Mulaney’s show represents an important test in the entertainment industry: Can the traditional talk show format — with an opening monologue, celebrity guests, live musical performances, a sidekick — survive in the streaming era?

Or is the future of talk shows something quite different,

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