Singh outlines the challenges that newcomers to the search space face, starting with defensibility--or the art of keeping
your value proposition unique in the face of constant competitor innovation. Singh uses the example of blog search service Technorati, which built a good solution--albeit one that took a few years to
streamline. "At the end of the day as the market for blog search became clear, Google quickly implemented a good solution, thereby ending Technorati's search ambitions," Singh says.
Maximizing distribution on a shoestring (or even large) marketing budget is also a major hurdle, as is building a team of developers and securing the hardware for them to work with. Still, Singh is confident that search remains a huge draw for great minds and VC firms alike--as long as they're willing to play nice with Google.