FB “Graph Search” is personal search. I can search my friends’ FB pages for the restaurants they like, the music they like, etc.

However, most people don’t list those things. Do you have a list of your favorite restaurants on FB? A list of best movies? I don’t. If I want a good restaurant in SF, I ask a friend who lives there: she really knows the best SF restaurants. None of this is in her FB page.

I tried FB Search to get a list of my friends who live in SF. It gave me 12 names. I know three of them don’t live there. They haven’t updated their FB profiles. So “FB Graph Search” can only find what’s posted, not what’s real. Few people update their profiles. (It also means people can post false information and it can’t tell the difference.)

Will this be good for advertisers? Can Cheesecake Factory use this for advertising? Not so fast. Web 2.0 bites back. When I search for a NYC restaurant, my friends will generally tell me which ones are bad. That’s the same problem as Yelp. A few years ago, I worked on a project that allowed users to rate companies. We discovered that if the person has a great experience, they might give it high ratings. If they have a negative experience, they will wreck its ratings. But 80% of customers don’t bother. It was fine, and that’s all. Ratings tend to skew towards negative. So advertisers may find that Graph Search draws negative attention.

What about your resume? If people start uploading their resume to FB and FB sells access to recruiters (LinkedIn charges $8,000/year), then recruiters could search resumes (even if they’re not personally connected to the person). (FB will give you the option to allow or block search of your resume page.) This could possibly be a threat to LinkedIn, but┬áprofessionals see LinkedIn as a place for professional resumes; they also see FB as something for personal use (friends and family). So it probably won’t affect LinkedIn.

It certainly doesn’t threaten Google. It’s too limited.

Other than that, I don’t think FB Search have much value, either for casual users (searching for popular restaurants) or FB (in terms of revenue).