[khmel]

This will have marginal impact on Fb revenue for 2 reasons:

1. What people share on Facebook <> what people really want to buy\consume\order

People are trying to look nice on Facebook. Facebook has to come up with some non-trivial statistics. What those guy who liked SF Giants and Obama is willing to buy. This requires 'Hunch-like' insights. And we know that Hunch business model was not a big success. Google's exercise is much easier, becuase Google knows what user's looking for, privacy of search request helps a lot. This could be fixed in only one way - through introduction of search engine within Facebook. Facebook could acquire Blekko or hire bunch of people from Google\Bing.

2. Site owners will get higher CPM with Google than Facebook. And will prefer using Google ads in most cases, not Facebook ad.

This will happen for the same reason as N1, Google has higher advertising relevancy and offered price than Facebook. Facebook will be sucessful at niche sites only - like Zynga, junk sites that are blocked by Google, etc. This could work for brand advertising, with pay-per-view model.