4:25 p.m. Mike Myers, who has been on the show before, spends a moment reassuring a visibly nervous Stiller. Ben's done awards shows in the past, but there's something about the Oscars that's a little daunting. His excitement is endearing.
5:00 p.m. Nicolas Cage speaks to a friend: "A room full of stars and none of us knows one another."
5:30 p.m. The telecast begins.
6:50 p.m. Samuel L. Jackson enters and walks straight over to Michelle Yeoh. Crouching Tiger, Hidden Dragon has a big fan base in this room.
7:03 p.m. John Travolta reads his introduction to the "In Memoriam" clip. "I realized after rehearsal I needed to slow it down. Put in the right pauses." He delivers it nicely. He's a variety-show writer's dream come true.
7:20 p.m. Winona Ryder drops to her knees and tells Michelle Yeoh and Chow Yun-Fat, "I worship you." She really liked the movie!
8:15 p.m. Best Original Screenplay presenter Tom Hanks asks to review his copy. I'm always amazed that no matter how famous the star, they're always a bit nervous. No one wants to blow their lines in front of 800 million people.
8:36 p.m. When Stephen Gaghan wins best adapted screenplay for Traffic, the room erupts in applause. I get the feeling they like him. It was the same for Marcia Gay Harden.
8:40 p.m. Heads turn in reverence when Anthony Hopkins and Dustin Hoffman enter the room, but I'm working. The two Oscar winners joke around. It's the one conversation I would have loved to hear. The room splits on Gladiator versus Crouching Tiger, Hidden Dragon for Best Picture. As they're leaving, several stars remark how much they love Steve Martin...words like smart, witty, genuine are used. The consensus: Billy Crystal no longer owns the Oscars.
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