Yesterday afternoon, Mike Arrington and AOL CEO Tim Armstrong announced the launch of "the CrunchFund", a venture fund that will -- according to the New York Times -- "invest in start-ups, including some that [Arrington] and his staff write about". Oh boy. But it gets better. Apparently keen to pour iced water on the burning oil of controversy, Armstrong responded to those who feared that TechCrunch's journalistic integrity might be affected by a perceived financial relationship between the publication and its subjects. What he could have said was this: "Despite the name -- which in hindsight was a bone-headed choice -- it's important to understand that 'the CrunchFund' is a simply an extension of Mike Arrington's existing angel investing activities. None of the writers and editors of TechCrunch has any influence over, or stake in, the fund and hopefully it goes without saying that it will have absolutely no impact on the day to day editorial independence of TechCrunch." That's what he could have said. What he actually said was this: "TechCrunch is a different property and they have different standards? we have a traditional understanding of journalism with the exception of TechCrunch." For. Fuck's. Sake.Source: http://feedproxy.google.com/~r/Techcrunch/~3/pt4ibaKBuRQ/
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