Simon & Schuster Publishers has teamed up with Media Predict; called Project Publish, the initiative allows virtual traders to bet on which book proposal will ultimately get the green light...An interesting departure from the usual system of editors selecting which books to launch. S&S's team will select the grand prize winner among the top scorers, and that author will land the book deal (via The New York Times).

Really, book publishing industry? "American Idol" tactics?

I guess it's the inevitable next step after The New York Times called you out on not being able to predict your own bestsellers (via Bookninja). Ouch.