Your home page is where you start searches, manage favorites, and send status updates.

Status updates are a way for you to broadcast messages to anyone who's following you, similar to the way other popular social networking sites work. They're a low-commitment, low-overhead way to get your thoughts out there to no one in particular (or a special follower).

When you add someone as a favorite, you see their status updates on your home page along with your own. So you can keep track of what's happening with all of your favorites.