The weak search function on Facebook allowed you to search for people, places but not facts. That is coming to an end and it will have an impact on small local businesses.
If you’re familiar with Facebook now, imagine you can search for a business and find friends (and others) reviews of that business.
Yelp and Foursquare may be the first casualties of the changes to Facebook. All Things D reports Yelp shares started falling as news of the Facebook changes came out.
A Forbes story discusses the changes the new function will have on areas such as entertainment and advertising. The story notes having Facebook create a better search function will probably drive local ad rates down.