The TechCrunch team is on site at the Facebook Developer conference, and we’ll be live blogging the news. Mark Zuckerberg’s Keynote starts at 1:30 pm PST.

Live Coverage

1:59 PM: He says the apps that leverage the news feed the best will be the ones that succeed.

1:58 PM: “The most important part of the profile is the wall and the news feed, which have now been merged. They also give developers an incentive to build apps that let users share a lot of information. This is a lot better than an application box, which people don’t interact with as much.”

1:56 PM: Mark is now talking about the new profile pages and how it fits in with their current goals.

1:54 PM: Mark says that over the last year Facebook hasn’t done enough to reward applications that provide a lot of long term value, and they haven’t punished the ones abusing the system.

1:53 PM: Mark is talking about lessons Facebook has learned. He says that they released the platform as quickly as possible, it wasn’t fully baked yet, and they didn’t anticipate the h Read the full article