VentureBeat threw a party last night to celebrate the launch our new digital media blog. (In truth, the blog is still a glorified tab on our main site, but we’re headed soon to a more separate offering.)

Held at the Ambassador club in San Francisco, hundreds of movers and shakers in digital media arena showed up — entrepreneurs, PR folks, even Warriors basketball star Baron Davis (below), an investor in IBeatYou (which also had an announcement at the event).

Kara Swisher, who runs the Wall Street Journal’s AllThingsD, showed up and took some footage, and writes a post here. See video below.

People in the video talk about this being the “surest sign there’s a bubble.” But thankfully, Kara comes back to interview me, and I tried to explain other reasons why that may not be the case. Had I been more articulate, I would have gone into more depth about why exactly some of these new media companies are creating so much value. Companies like Adify are creating sensible, targeted networks that advertisers want. Music, TV and gaming, and social communication are all being transformed too — there’s plenty of opportunity. Although its true I’m a skeptic about some of the frothy financings that are happening, and have to eat my hat from time to time.

Finally, I’d like to thank VentureBeat’s business manager, Jacob Mullins, who brought in the sponsors who made it all possible to have the fun last night. Many thanks to Sun Microsystems, venture capital firm Mohr Davidow Ventures and law firm O’Melveny & Myers.

Below are a few of Brian Solis‘ great shots. Check out the rest of his set here.

[Above: Baron Davis speaks to the crowd as Matt Marshall (right) looks on.]

[Above: Dan Farber of CNET.]

[Above: Three partygoers having fun.]

[Above: Michael Arrington of TechCrunch and guest.]

[Above: The VentureBeat team.]

[(CC) Brian Solis,,]