One of the highlights of the TechCrunch40 conference last week was when I had an opportunity to sit down with Facebook Founder and CEO Mark Zuckerberg. We talked for 45 minutes about some of the big projects Facebook has launched over the last year – including the launch of the News Feed in 2006, the Facebook Platform, dealing with user abuse by third party developers and much, much more.

Mark also made a surprise announcement about mid way through the talk – the launch of fbFund, a new entity that will make grants to facebook application developers.

The entire video is embedded above.