Cool Premise.
Its a cool idea for an app; its like a modernized Tumblr meets Facebook with a twist. However, I think (personally) that it would be much more enjoyable (and successful) if there was a "public" option where you could share to the public and meet new people; to avoid being spammed and missing out on friends posts, then you could switch to the public feed or personal feed. :) Just some thoughts!
Cariaturing about
VERO - True Social, v0.8.3