Young Hollywood parties in the name of Oscar

HOLLYWOOD — Look to your left, and there'sWhitney Cummings, fresh off a plane from Mardi Gras, talking to Sia.

Look to your right, and it's upcoming Late Late Showhost James Corden laughing with Jenny Slate.

On Tuesday night, the club No Vacancy was wall-to-wall with celebrities, thanks to Vanity Fair and Fiat's Oscar week kick-off party celebrating young Hollywood, co-hosted by Corden."I don't go out that much," confessed Corden, who co-hosted the affair with Vanity Fair West Coast editor Krista Smith. "I haven't (hosted) a party since I was seven years old, so I just feel very thrilled to be asked to do something like this."

The bash launched a week of round-the-clock toasts leading up to Sunday's Academy Awards, and included Brooklyn Decker, Cat Deeley, Lydia Hearst, Sarah Hyland andVictoria Justice.

Hello young Hollywood! With beau Bradley Cooper up for a best actor Oscar, model Suki Waterhouse is making the rounds. First stop: Vanity Fair's kick-off bash. (Photo: Mike Windle, Getty Images for Vanity Fair)

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The social media savvy crowd included YouTube personality Cat Valdes and model-turned-Gone Girl actress Emily Ratajkowski. On that note, Cummings, looking far too awake after ringing in Chelsea Handler's 40th birthday at Mardi Gras, thought the Academy should shake it up a bit.

First up: more sketches!

"There's such a mystery around the Oscars," said Cummings. "Jimmy Fallon has shown us that celebs aren't these cardboard cutouts with no sense of humor. Play ping pong with Brad Pitt! Make it a little more playful. YouTube stars should be involved in the Oscars like Tyler Oakley and iJustine. They should present an award!"

Hold on, after a 24-hour blitz in New Orleans, how did she look that good? "Lots of vodka," Cummings laughed.

Surrounded by well-wishers at the affair, Corden said he hopes his Late Late Show, which launches March 23, is allowed time to get its sea legs.

"I just hope that we are given the time to navigate the bumps, because it's going to be a bumpy ride for a bit," said the Brit. "The show that you want to make doesn't ever happen straight away, so hopefully we'll have time and find our groove and find our audience."