Facebook just made one of the biggest changes to the site's user experience since the introduction of the News Feed three years ago. News Feed was the place in the very center of the site where all the activities of a user's friends were displayed in reverse chronological order. That feature is now called the Live Feed and the News Feed has become a filtered display of activity highlights instead.
In September 2006 this was a radical idea; thousands of Facebook users revolted against the idea that all their friends would be shown every photo they uploaded, when their relationship status changed and other information as soon as it was available. Today we live in a different world. Almost everything is social and the new challenge is tackling information overload. That's what Facebook just did today and it's going to be very important for the future.
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The real-time flow of social activity data is very exciting, but many people have cautioned that it will be a net-negative for users' experience of the web as we're flooded with an overwhelming quantity
"These services will someday have to compete on user experience, when they no longer have your social connections locked-in. The service that does the best job filtering up the most important information you have coming your way will likely be the service you stick with. That's going to be a key area of competition between social networks."