Joichi Ito - from venture capitalist to venture communist?

I've become a big fan of Joichi Ito CEO Creative Commons, Chairman of Six Apart after seeing him speak on a panel at the recent Fortune Brainstorm conference. In a room full of many smart people, Mr Ito is one of the smartest. Here is a clip of Mr Ito talking about the venture capital community. At one point, Vint Cerf, who is sitting in the front rows calls him a "venture communist," tongue-in-cheek, of course. He is on a panel that is very well moderated by Quincy Smith, CEO of CBS Interactive. Also on the podium was Lawrence Lessig, professor of Law at Stanford Law School, and Philip Rosedale, founder and chairman of Linden Lab, (Second Life.) I'm editing the video of the full panel discussion and will post it later.

https://www.youtube.com/watch?v=-Ox02qM_yuc