Always the crowd pleaser, Jamie Foxx took the hot seat on Colbert yesterday to chat about how he taught Diddy to party on a budget. Foxx initially met Diddy by posing as a videographer but once their friendship grew they would party together. Foxx recounts how he used to attend Diddy’s lavish parties, but at one point he challenged Diddy that he could throw a baller party for under 400 dollars. Diddy accepted the challenge – and both the story and Foxx’s delivery, are legendary. Watch.