In short: no.
I’ve seen blog posts and Slashdot articles aplenty which hold Facebook up as a future competitor for Google in advertising, and I’m not buying it.
I’m not ruling out that Facebook may take the crown for Most Likely to Watch You Sleep From a Satellite someday; nor that it may provide a platform full of useful, ad-supported applications to rival Google’s own applications. What I’m saying is that in all my years of Googling — more than half its lifetime — I have yet to see Google’s main page come down.
It is so reliable, in fact, that — and I’m sure I’m not alone in this — I use it as a test when I suspect I can’t connect to the Internet. More than that, while I know its apps have suffered from less stability, they are stable enough that I’ve never encountered a proper error while using them. This, of course, doesn’t count errors resulting from my various wireless woes.
Facebook, on the other hand, throws up AJAX errors for me every few weeks. I’m sure this is because that’s how often they tweak their system, but it still represents a failure in testing. It’s not as though these are odd things I’m doing, this is while trying to post on someone’s wall or return a poke — not even the mutated, third-party versions! Worse is that I have now been unable to reach the Facebook home page twice in the time I’ve been using it, which is 3 years, tops. May not seem like much, but like I said: I’ve never seen Google go down.
So no, Facebook doesn’t have what it takes to take big G.