Facebook and Search  

It’s unlikely in the near term that Facebook would seek to challenge Google directly in web search.

This assessment is accurate. Facebook would not have a competitive advantage by doing web search. In fact, searching the web and sending people away from Facebook is the antithesis of what they are all about. Instead, there are many opportunities for searching within its walls and thus making it easier for people to stay within Facebook or Facebook powered sites, which is exactly what they are working on.