Your Friends
Your friends, family, co-workers, and classmates in your friends list are your network. They are displayed on your profile as well as your peronal list. You can specify friendship types on how they are related to you and a brief description of who they are.

Recent Activity
Unless set to private, your recent activity is displayed on your profile. It shows viewers what you have been doing on ohBeezy. It also informs your actions to the people on your friends list.

Whats New
Unless your friends set their activities to private, your "Whats new" is where you see the actions of the people on your network. It tells you what pictures they uploaded to their album, the comments they make and more. Its basically a place to see what is going on in your network. You can see it on your users home page.