Gillmor Gang – Gabe Rivera, John Taschek, Robert Scoble, Kevin Marks, and Steve Gilmor. Recording live at 1pm PST. 

The new activity box includes larger images and text, as well as an additional app icon. When users hover over their own activity stories, they see the current privacy setting of the action and have the option to change its visibility to “only me.” These settings are important to give users the confidence that they control what they share using Open Graph applications. If Facebook makes it too difficult or confusing how to manage privacy settings for certain actions, users could begin to avoid these apps all together.

The larger size of photos and text in the activity box gives apps further exposure on Timeline, which could lead to discovery among friends and promote re-engagement with existing users. This is the second time the social network has increased the size the recent activity section of Timeline since it launched. The design fits Facebook’s current trend of increasing the size of images across the site and its mobile apps. See below for a comparison.

The redesigned notification center also has in-line controls so users can easily indicate when they want to stop receiving notifications from an application, group, event or comment thread. See a sample app notification in an image to the right from TechCrunch. Visually, the notifications drop-down now looks inspired its mobile counterpart, with rounder edges and the notification icon lighting up in white. See below for a comparison.

New activity box

Previous activity box

Original activity box

New notifications center

Previous notifications center

Mobile notifications center

In case there was any confusion after Facebook’s eight years in business and its recent geographic expansions, it was cleared up today: Facebook’s home and heart lies in Silicon Valley.

TechCrunch TV saw that first-hand this morning at NASDAQ’s Marketsite in New York City’s Times Square. We were on hand there for the ringing of the NASDAQ opening bell, but as expected, Facebook’s founder and CEO Mark Zuckerberg took advantage of the option to ring it remotely from his company’s Menlo Park, California headquarters.

NASDAQ is a fully digital stock exchange, unlike for example the New York Stock Exchange, so it doesn’t have a physical trading floor and the bell-ringing is really just a ceremonial gesture. Nevertheless, there were throngs of reporters, some die-hard Facebook fans, and a few bewildered-looking tourists gathered in Times Square around the NASDAQ Marketsite to see the action.

An Eerily Quiet Times Square

But as you can see in the video embedded above, that “action” was negligible. NASDAQ played a short, two- to three-minute simulcast of Zuckerberg before and during the ringing of the bell on massive television screens, but there was no sound from the event piped into Times Square — so for the duration of the broadcast the crowd fell eerily silent, just watching the screen together. There was a brief countdown shown, but no one called out the numbers or anything. New Year’s Eve it was not.

My colleague Anthony Ha found the scene at Facebook’s headquarters this morning to be “underwhelming,” but from where I stood it looked like a downright rager compared to the environment in NYC. In fact, I’m pretty sure this was one of the only occasions I’ll be able to say with near certainty that Menlo Park, California was a louder and more bustling place than Times Square.

The Power Shift From Wall Street To Silicon Valley?

Someone could easily see the whole event as a let down, but after thinking about it a bit I actually feel like it was the opposite. The scene at NASDAQ today strikes me as just the latest sign of an ongoing shift in power from the finance industry to the technology industry — from the proverbial Wall Street to the proverbial Silicon Valley.

Now, I don’t mean that literally, of course. We all live digitally these days, so power is by no means not actually moving geographically from East to West (or even being centered in the United States at all.) But it is a palpable shift in mentality. So for those of us who work and live in and around the tech industry, the silence in Times Square this morning represents something very exciting indeed.

Is The Avengers worth your money? Do the disc-blasting Nerf guns leave a welt? How do you pull a Pebble and reign in $3 million on Kickstarter?

In this week’s TC/Gadgets webcast, we answer all this and more. John and Matt argue over the value in one of this summer’s tent pole movies, The Avengers. John finds it boring, while Matt thinks “it’s fun for everyone.” And while I can’t say I’ll be buying a ticket to The Avengers any time soon, I can say with great certainty that I’ll be at one of the opening day showings of Prometheus.

Who doesn’t love space, right?

The gang also discusses Nerf’s disc-blasting guns, and how they may or may not be used at this weekend’s Disrupt Hackathon. Last year we saw a raucous group of hackers start an all-out war with bungee darts. None of the TC editorial staff was injured (nor were the hackers), but this year we’ll at least have some Nerf Vortex and Vulcan guns slung over our shoulders. You know… Just in case.

In the words of the recent Game Of Thrones trailers, “War is coming.”

Finally, but likely most importantly, Matt, Chris, John and I offer up some tips as to what we cover on Kickstarter. Matt is done with iPad cases, and though I echo the sentiment, I’ll probably be more willing to make exceptions than he. John prefers the “little tweaks” to things we already use and enjoy, like the automatic bike light that knows when you’re moving.

I encourage a strong video, as marketing is a huge driver of any business. But the geeky stuff has its place too — Chris thoroughly enjoyed the electron microscope project that significantly reduced the cost of looking at really, really tiny things.

China’s Internet juggernaut Tencent announced today that it would undergo a restructuring of its business units into six groups. Ren Yuxin was also named as the new chief operating officer and will head  up the media and social-networking groups.

The six groups include:

TEG – Technology & Engineering Group, comprised of Tencent Research and operating divisions.

SNG – Social Networking Group, comprised of its Internet business lines and some divisions from Tencent Research.

CBG – Creative Business Group, formed by Tencent Guangdong R&D Center and its corporate development arm.

IEG – Interactive Entertainment Group, original Interactive Entertainment service.

MIG – Mobile Internet Group, made up of wireless services and some divisions from Tencent Research.

OMG – Online Media Group, namely its portal business.

The most profitable Chinese Internet company and its red scarf clad penguin mascot, has been growing into quite the force by competing with other Chinese Internet companies on many fronts like portal business (rivals with Sina, Sohu and NetEase), online games (Sohu, NetEase and Shanda), social networking service (Sina, Renren), software and anti-virus services (Qihoo 360), online video (Qiyi, Sohu Video), eCommerce (Taobao), travel booking (Ctrip), online payment (Alipay) and search (Baidu and Sogou). Just to name a few.

In the firm’s freshly released Q1 2012 financial results, the company turned a profit of US $470.6 million on revenue of 1.53 billion, a 2.8% increase from this time last year.

All of its major offerings are still seeing big growth, for example, its instant messaging system QQ now boasts 751.9 million accounts, up 11.5% YOY. Both QZone and Pengyou.com, Tencent’s approach to social networking to date claims 576.7 million and 214.5 million users respectively, up 9.7% since last quarter and a stunning 30.2% YOY. And the Shenzhen-based company’s profit-making businesses including QQ Game Open Platform, Internet value-added service, wireless Internet value-added service as well as online advertising business all pulled off decent growth in the past quarter.

However, there’s always more than meets the eye.

For starters, Tencent’s investment spree last year hasn’t brought on too much revenue, for example, it still lags behind Alibaba/Taobao on the eCommerce front in spite of all its recent acquisitions. Starting last year, Tencent invested in a handful of eCommerce services, like Gaopeng (think Groupon), China’s Zappos OKBuy.com, the Chinese OTA elong.com, diamond dealer kela.cn, 3C etailer 51buy.com and so forth, with elong.com being the only one turning a profit.

Furthermore, Sina Weibo, which is like a Chinese mix of Facebook and Twitter, is posing a real threat to Tencent’s dominance in social networking. Just like Tencent built its empire on QQ, Sina has been working relentlessly on Weibo to reinvent itself from the traditional online media company to the leading social media outlet by adding a swath of innovations to the platform like Weibo Open Platform, Enterprise Weibo, Weibo gaming center and so on.

At the same time, Tencent’s search effort Soso has been long-rumored to be facing serious downsizing, which shows that a company that seems as strong as Tencent can still have weaknesses. Soso hasn’t had any major breakthroughs since its inception six years ago. It currently accounts for 1.5% of China’s search market in the first quarter of this year, according to a report by Beijing-based market researcher iResearch.

Tencent should be wary of the rise of its peers and an organizational restructure might help it be more responsive to market change and be nimble in execution.