Yeah you can have an activity page (or Home as you are calling it) showing activities of people you are friends with.
Personally I see the whole ‘friends’ thing as just a connection between two members. So you can ‘friend request’ and become ‘friends’ with the person and have their stuff appear on an activity page. But you can use various tools to change ‘friends’ to be ‘follow’ or ‘colleague’ or whatever you feel like. Hence why I see it as a ‘connection’ because you can call it whatever you want depending on what site you are building.
