Today in Tech: Is Google launching an iTunes competitor?

Fortune's curated selection of newsworthy tech stories from the last 24 hours. Sign up to get the round-up delivered to you every day.

"Little startups are ridiculously overfunded... The market is ridiculously overcrowded with early stage investors. This results in a talent drain, where the best talent gets diffused and work for their own startups." -- Entrepreneur Sean Parker (TechCrunch)

* According to John Stanton, chairman of the venture capital firm Trilogy Partnership, Steve Jobs once toyed with the idea of replacing mobile carriers by creating his own network with unused Wi-Fi spectrum. However the late former Apple CEO gave up on the idea some time after 2007. In other Apple (AAPL) news, the company named its director Art Levinson non-executive chairman of the board and Disney CEO Bob Iger a board member. (Macworld and All Things D)

* Google (GOOG) reportedly plans to unveil an online music market in Los Angeles this week that will essentially let its users store songs line and listen to them on their devices. (Bloomberg)

Former MySpace CEO Mike Jones

* Former MySpace CEO Mike Jones is launching a new venture called Science, aimed at developing digital businesses in-house, buying up outside startups, expanding them, as well as helping out later-stage companies. Jones believes his more centralized approach with Science will help lower the costs involved with startup launches as well as startup growth.

* Jack Dorsey's mobile payment startup Square announced an updated version its software which lets merchants define frequent customers as "regulars" and reward them with discounts or free items as they so choose. The update also enables mobile devices to wirelessly connect to some cash drawers and receipt printers so customers can get a paper receipt. (Previously, receipts were limited to text or email form.)

* Intel's investment arm, Intel Capital, announced the $100 million AppUp fund for investing in comparing creating applications and digital content for multiple devices. (VentureBeat)

* Felix Salmon on the future of online advertising. (Wired)

* My quick-hit review of Barnes & Noble's new Nook Tablet, a great piece of hardware begging for a bigger ecosystem of services. (Fortune)

* How the Xbox was made. (VentureBeat)

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Posted in: Apple, Google, Jack Dorsey, John Stanton, Mike Jones, MySpace, Nook Tablet, Steve Job, Steve Jobs

• Today in Tech: AMD CEO forced out, MySpace lays off 47%

  A curated selection of the day's most newsworthy tech stories from all over the Web.

  Though AMD CEO Dirk Meyer officially resigned his position, some sources indicate he was forced out because the company's board felt he wasn't that effective in improving the chip maker's position in areas like tablets and server systems. CFO Thomas Seifert was named interim CEO while AMD searches for Meyer's long-term replacement. (Wall Street Journal)
  Hot on MORE

  JP Mangalindan, Writer - Jan 12, 2011 8:19 AM ET
  Posted in: Advanced Micro Devices, AMD, Dirk Meyer, iPad, iPhone, Mike Jones, Mobile, MySpace, Verizon iPad, Verizon iPhone

• Q&A with MySpace CEO Mike Jones

  MySpace CEO Mike Jones has the challenging task of rejuvenating a faded brand. He is overseeing a re-launch of the still popular site, that despite its size –130 million unique users worldwide – has become far less important than Facebook. MySpace no longer is challenging Facebook directly. In fact, it recently signed a deal with Facebook to allows its users to sign up for MySpace using their Facebook credentials. An MORE

  Adam Lashinsky, Sr. Editor at Large - Nov 30, 2010 12:29 PM ET
  Posted in: Facebook, M (New York City Subway service), Mike Jones, MySpace, National Weather Service, News Corporation, social media, Social network service, Television program

• How Facebook learned from MySpace's mistakes

  Facebook and MySpace were neck and neck competitors for years, but with yesterday's announcement, Mark Zuckerberg became the clear victor of this round of social. Here's how Facebook did it.

  By Kevin Kelleher, contributor

  In six fast years, Facebook has grown from startup into a billion dollar enterprise. Estimates for Facebook's revenue range from $1.2 billion to $2 billion this year. Jim Friedland, a Cowan & Co. analyst whose 2010 estimate sees MORE

  Nov 19, 2010 11:37 AM ET
  Posted in: Dan Rose, Facebook, Google, Mark Zuckerberg, Mike Jones, MySpace, News Corporation, Rupert Murdoch, social network, Social network service

• Facebook Like-buttons MySpace

  MySpace CEO Mike Jones announces profile data sharing and login via Facebook. And yes, there are Like buttons.

  On Thursday, Facebook and MySpace announced "Mashup with Facebook," a new partnered product that lets MySpace users with Facebook accounts port their Facebook interests and likes into their MySpace profiles, allowing for personalized MySpace media streams.

  "MySpace is very committed to this new direction social entertainment," said MySpace CEO Mike Jones during the announcement. MORE

  JP Mangalindan, Writer - Nov 18, 2010 3:25 PM ET
  Posted in: Dan Rose, Facebook, Mashup, Mike Jones, MySpace, social network, television, Television program