I agree that current social networking applications fail at real world search at the moment, but what is preventing Facebook from adding a search component which searches the broader internet and uses information about your friends, interests, and activities to provide better results? It seems like Facebook has access to a boat load of information about you that Google doesn't have.

Google has lots of information about past searches, browsing history, etc, but it lacks personal information such as the organization you are currently working for or your favorite TV shows and bands (or in the case of many of us, our favorite blogs and programming languages).