Edit templates/index.tpl

Remove

Code:
    <div id="watch-uplod-share" class="clearfix">

        <div class="watch">
            <a href="{$base_url}/recent/"><span>Watch</span></a>
            Better than TV watch what you want when you want it!
        </div>

        <div class="uplod">
            <a href="{$base_url}/upload/"><span>Upload</span></a>
            Quickly upload and tag videos in almost any video format.
        </div>

        <div class="share">
            <a href="{$base_url}/friends/invite/"><span>Share</span></a>
            Easily share your videos with everyone, put videos on your space or watch them here.
        </div>
   
     </div>