Rajesh Jain quotes David Jackson on web investment trends. Jackson sez that as

• Web advertising becomes really useful, Web sites become progressively easier and cheaper to build
• Syndication and filtering dramatically improve web publishing and information dissemination
• Search continues to improve and grow in significance

At this point, David implies transactional and information-driven sites will merge together, and search by itself just won't be enough, so put your money on the integrated apps.