Barry Diller likes long shots. He's built a career betting on the long shot. Today, Diller is stacking his chips for a run at the lucrative search market, and he's betting that history can repeat itself.

The gold rush of search engine marketing continues, making the big search companies wealthier while providing advertisers with the most measurable advertising tactic in history. But the cost of that excitement is that search often takes a back seat when it comes to longer-term, more strategic applications