The concept of TrustRank is something that isnt what you would call new, but interesting none the less. The concept is derived from the notion that just like consumers who buy from trusted companies, search engines rank sites based on a number of factors, one of which is how trustworthy the site appears for users.
Factors believed to lead Google into believing a site is trustworthy include access to visible information on security, privacy and the ease of use for users wanting to find information (information architecture).
I found a great image that summarises this courtesy of elliance.com
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This might make it almost impossible for new websites to compete with those that are more established.