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We've talked a lot about what would happen if Facebook could become a more powerful search tool, most recently after the recent addition of the Nearby feature. This NY Times piece examines how Facebook is in a great position to give Google some competition. And, how its future may depend on search.

"If you’re looking for, say, a movie to watch next weekend, Google can provide long lists of movie reviews from strangers. Facebook, though, could theoretically tell you what movies your friends liked — and what, by extension, you may be predisposed to like. That kind of service would delight advertisers — and, by extension, Wall Street."

New York Times:
Fortunes of Facebook May Hinge on Searches

Big press conference today. Could be search?

I pulled this bit of speculation from a news site

(CNN) – Facebook is generating a lot of buzz with a mysterious press event set for Tuesday.

The social media giant has invited the news media to its headquarters to "come and see what we're building."

The company is apparently ripping a page out of Steve Jobs' hype machine owners manual.

There's no shortage of theories on what Facebook will announce.

Much of the speculation is latching onto the long-rumored Facebook smartphone or tablet.

But CEO Mark Zuckerberg told a magazine in September a phone is "clearly" the wrong strategy for Facebook.

originally from: http://www.fox19.com/story/20591107/facebook-to-hold-mysterious-press-conference

Facebook phone? New timeline? Heading to the Twitter now to check out the latest, now that the press conference has begun.

BTW: My favorite tweet before the press conference --

HAL 9000 ?@HAL9000_
Why does #Facebook need reporters to come to a room to make an announcement? Don't they understand how their own website works?
Retweeted 101 times

Aaaaaaaaaaaaaaaand....... the winner is: SEARCH!

"This morning, Facebook gathered a handful of press at its Menlo Park campus to announce it’s finally rolling out a functional search tool."

VentureBeat:

Live at Facebook: Graph Search is coming

Lol that's good stuff. I'm intrigued to see how this new "smarter search engine" performs.