Investor criticizes news aggregation site

While Michael Arrington, the blogger behind TechCrunch, invested in Daylife, a news aggregation Web site, that hasn't stopped him from critizing it.

Arrington says, "I am unhappy to report that I am underwhelmed by what Daylife has to offer. Perhaps I am conflicted because I am close to the company, but in my opinion Daylife has failed to raise the bar and will not be a compelling offering for news junkies."

Arrington says Daylife "is well designed," but he adds, "Daylife enters the market about a year after a slew of other competitors came out with their products. Gather.com, Inform.com, NewsVine and Topix all have competing products. Google News reigns over all of them."

Ouch!