Take last night, for example. The conference's official happy hour was packed, while the cocktail party hosted by Break Media, CollegeHumor, and other panelists from the "Comedy on Television and the Web" panel was far more relaxed. Attendees included CollegeHumor's Ricky Van Veen and The Office's BJ Novak. In between buying dozens of Kamikaze shots, Break Media CEO Keith Richman complimented Mahalo's Jason Calacanis's poker game. (Calacanis is a noted gambler, so much so that we sometimes wonder if he might have a problem.)

Break Media CEO Keith Richman, former Valleywag editor Nick Douglas, and New York writer and comedienne Caroline Waxler

We arrived at Digg's Second Annual Big Digg Shindig at Stubb's BBQ too late to see the live Diggnation taping — though we hear it was packed shoulder to shoulder — but just in time to see fanboys mob Diggnation host Kevin Rose and dispensable sidekick Alex Albrecht for autographs en masse.





NY Tech Meetup organizer, proven wantrepreneur, and host of The Interwebs Nate Westheimer

iLike's Ali Partovi and Hype Machine's Anthony Volodkin

Valleywag alumna and Boffery cofounder Melissa Gira Grant with Automattic's Matt Mullenweg

After a stop at an impromptu Next New Networks party, we headed to the Driskill Hotel. Microcelebrity egoblogger Julia Allison was flanked by fans who showed up after she sent a message on Twitter seeking reassurance of her self-importance. She has actual fans! Three of them!

Fred Wilson of Union Square Ventures once described Hype Machine as "the best thing to happen to music since the Rolling Stones!" But for a founder like Volodkin, taking nearly all of a $10 million offer must surely seem more attractive than rolling the dice by taking venture capital and trying to get a smaller slice of a larger jackpot. Some VCs have resorted to bribing founders — buying shares outright, rather than just increasing their paper wealth — to dissuade them from selling, as Automattic's investors did with Matt Mullenweg. VCs like to talk about making entrepreneurs wealthy. But they like to arrange things so they hitch a ride to the payday.