Google now has a real-time search feature. Under the "latest results" for your search terms there is a stream that updates with new information from a wide variety of sources: news outlets, blogs, Twitter, other social media. It's an awesome new feature for the search engine giant. Check out this video from Google about its new real-time search:
What does this mean for Twitter's (brief) reign as real-time search king? What does this mean for social media in general?
I think this can only complement both Google's primacy as The Search Engine and also the usefulness of social media. New content has the potential to reach far more people (e.g. your tweet about Obama's jobs speech could be seen by thousands, not just your 20 followers). Impressive, cool stuff from Google.