Thousands of manuscripts hit editors' desks monthly, and many of them end up in the trash. To combat the black hole issue of the 'slush pile', and the belief that occasionally editors misjudge a manuscript's merit, Johanna and Pascal Denize have started Slush Pile Reader, a unique website that allows writers to upload their unpublished manuscripts for readers to read them. If a reader thinks the manuscript is any good, they can vote on it. Enough votes and Slush Pile Reader will publish your work.
Advantages: Your work is read and may ultimately hit bookstores.
Disadvantage: Other big publishers probably won't pick up your novel if they want first publishing rights, but you may be able to work something out for the paperback. For readers: You're reading a lot of stuff that may have never been seen by another human. Eeek, grammar mistakes, bad dialogue, and flimsy characterization abound.
My verdict: Great for the writers, but will people really read this stuff?