According to Google, the wildcard query will provide better results than the parachute was invented by" (which theoretically should provide the same results) for the reason that they will be "promoting results in which the blank filler is relatively more frequent in the context of the query."
This innovative search can become a great tool for web professionals, since it can be used to find common queries and to learn what people are looking for. For example, "where can I buy *"
