Last night Graydon Carter's Waverly Inn was host to a party for Napeolonic media mufti Michael Wolff and former New York mag honcho Caroline Miller's new project Newser, the web 1.0 news aggregator. Ten years ago, Michael Wolff wrote Burn Rate; it chronicled the spectacular failure of his first web venture, NetGuide. Along the way, Wolff seriously burned his backer Alan Patricof and nearly everybody else he worked with. So when if Newser fails, will there be a Burn Rate II?

• Dean Baquet wins the coveted Observer Media Mensch of the Year award. This follows hot on the heels of a bunch of other bullshit made-up media awards by organizations you've barely heard of, and comes a day in advance of our naming Chris Mohney's right testicle Gawker's Blog Ball of the Year. [NYO]
  

MediaBistro interviews New York magazine's media critic (although he'd prefer not to be called that) Michael Wolff and gets media critiqued:
MB: And how did that come to be? Were you old friends with [New York editor-in-chief] Caroline Miller? I mean, how did that opportunity arise?
MW: No, I wasn t. I had never met her before. You don t know anything about me, do you?
MB: It's a Q&A. I'm trying to let you talk about this stuff.
MW: These are terrible questions. You can t just ask someone, give me your resume.
Meet the (meta) press: Michael Wolff [MediaBistro]