Yelp + Digg + Foursquare = GraffitiGeo

That’s the equation from ReadWriteWeb and it sounds like a great short hand for the new GraffitiGeo which the site says will suffer from all the regular social media apps’ problem: reaching critical mass. Mashable does like the “digg-like” voting but is looking toward the “augemented reality” version of GraffitiGeo where the information (mostly focussed on restaurant reviews) will appear as you “look through” your iPhone.

Because the app is location-based, it knows what’s nearby. In the demo, they aim the app down the street from where they’re standing and GraffitiGeo displays the ratings for all the restaurants on that block. If you’re ever just wandering around looking for a place to eat, this could be a real timesaver.