Some thoughts post web 2.0 conference

I was at web 2.0 last Thursday and Friday and had a good time. I've been attending web 2.0 since 2004 when web 2.0 was born.  I remember because I was there right after George W Bush was re-elected.  The mood at that time was somber disbelief politically and a sense economic opportunity elation (if that's a phrase).  This past week was the opposite. Political relief, elation and awe over Obama and a real sense of economic sobriety. 
That said, it seemed like it was business as usual...just slower with less enthusiasm.  There's a real sense that hard times are upon us but hope springs eternal amongst the entrepreneurial crowd.  People are still looking at starting companies and getting funded... which is good.