Levine begins his presentation by sharing what he calls "Yahoo!'s vision for the search space overall". which he believes drives everything Yahoo! is doing in search, local services, and mapping. The vision is straightforward but ambitious: to enable people to find, use, share, and expand all human knowledge.
Taking us through each of the parts of the vision in turn, Levine outlines what Yahoo! is doing to enable particular features and what plans the company has for developing areas of use. The emphasis here is very much on purpose-driven search rather than searching for searching's sake.
Yahoo! calls the successful combination of the parts of their vision 'fuse' and Levine takes his audience through a real-life scenario (Tim O'Reilly looking for a Spanish restaurant) to underline how the disparate parts can work together.
This is a presentation that clearly explains both how Yahoo! views the intersection of search and local and how it intends to enrich the experience for all users, from developers to merchants.