Not sure that a business based on taking a photo of something and asking people "what is this?" is destined for success. Isn't that something that Google Now/Siri will probably automatically answer in the near future?
These services require data-entry on the part of their users in order to seed these identification engines. I see this data-entry as a hidden value of the user, and part of why network effects are so valued by VCs/the market.
In any case, Google can simply say "I think it's a lug nut. Do you agree Y/N?" And in effect, play 20 questions with its entire userbase. In very short order it would be capable of identifying anything.
These services require data-entry on the part of their users in order to seed these identification engines. I see this data-entry as a hidden value of the user, and part of why network effects are so valued by VCs/the market.