Yesterday, at the third annual Southeast Venture Conference in Atlanta, the opening keynote speaker Tim Draper, managing director of Draper Fisher Jurvetson, asked the more than 700 attendees “What revolution are we creating?”

Thanks to Eric Gregg SEVC director for the comp ticket.  I am accustomed these days to the more casual atmosphere of SoCon09 and Startup Riot where entrepreneurs are all wearing jeans and online using Twitter.

That was not he case yesterday.  I took out my suit, put on a tie and observed capitalism in action where handshakes and personal relationships still matter.  Deals, not laptops, were on people’s minds.

Among the keynotes and company presentations, I was encouraged by the optimism even if there was no escaping the tough economic reality we currently face. Times like these require adaptation.

John Yates the partner-in-charge of the technology group at Morris, Manning & Martin, LLP brought the point home when he asked members of the panel to compare 2008 and 2009.   Today, one VC sees fewer business plans focused on widgets, and another was witnessing a flight to quality and observed that people are looking for the long haul.

Few companies presenting on the first day focused on the social web, but all were technology driven.  One presentation that I missed was LivingSocial - a social network that allows people to review and “share their favorite movies, books, games, music, restaurants and beer” and integrates with Facebook, MySpace, Bebo, hi5, and Orkut.

While few in the audience seemed to support a stimulus package, Draper ever the optimist viewed the current situation as a perfect opportunity for companies with vision and a solid business plan. It just is going to take longer.

“This is the best time ever to start a company.”  Draper said, reminding the crowd that many of the largest and most successful companies started in rough times including GE, Chevron, Westinghouse, Microsoft, Adobe, Skype, and Johnson and Johnson. See Tech Journal South article.

“Entrepreneurs, this is your time. This your moment, go out and do something.”

These days that sounds revolutionary enough.

Let me get back to you.