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Apple may be changing its usual iPhone update schedule to the fall, instead of a pre-summer launch in June/July--the news has popped up multiple times, and a source familiar with Apple's plans has also confirmed it with Fast Company. But Apple is a company that thrives on PR excitement...and the big hole in the update schedule before the iPhone 5 arrives could damage sales

Each day, Inc.'s reporters scour the Web for the most important and interesting news to entrepreneurs. Here's what we found today

1. Google is taking its war with Apple to a new front: video rentals in iTunes (currently the industry leader). YouTube has apparently sealed all the required deals with movie studios to enable on-demand streaming of movies from major studios--an evolution of its (slightly disastrous) experiment with renting indie movies a while back

Barnes & Noble just revamped its Nook tablet with a specially-tweaked Android makeover and a curated app store.

I thought my mama only meant shoes when she taught me the "white after Easter, black after Labor Day" rule.

George Doriot, the father of venture capitalism, liked to quip "Someone, somewhere, is making a product that will make your product obsolete." Doriot died in 1987, but his ideas about venture funding can be seen to this day; Intel, Apple, and Cisco (to name a few) are some of the first companies to be funded by venture capitalists. The VCs that followed in his footsteps—including Tom Perkins, Arthur Rock, and Don Valentine—have, through their work, trailblazed a path of American innovation.

Each day, Inc.'s reporters scour the Web for the most important and interesting news to entrepreneurs.

The Fast Company reader's essential source for breaking news and innovation from around the web--updated all day.

Apple sold almost 5 million iPads around the world last quarter. But it still couldn't make them fast enough to meet demand. Apple sold almost 5 million iPads during its March quarter—and it still couldn’t keep up with the demand, company executives said during a quarterly earnings call on Wednesday

AT&T's smartphone business is booming, according to the lastest numbers--with the iPhone in the lead.

Apple's due to reveal all in its second-quarter call tonight at 5 p.m. EDT. The statistics will be telling, since they encompass the Verizon iPhone and the iPad 2's early sales

1. Wal-Mart just handed over around $300 million for Kosmix, a topic-curated social media platform that's just six years old. The new firm will join the @WalmartLabs division, trying to build-out the retail giant's online shopping experience--which is now set to get a big injection of social media thinking, and will probably leverage Kosmix's smart semantic interpretation code to come up with purchase suggestions 2

Philips is selling its TV business to a Chinese volume manufacturer, while Apple TV gets more real every day.

1. Apple TV rumors, of the big-screen rather than plug-in-peripheral kind, have come and gone. But over the last day or so a huge debate on the topic has arrived online with some heavyweight names taking part .

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