First of all this isn't new(ain't old too),but i can bet many people haven't heard about this. Google: " We'll pay $500 to $1,337 for every security bug you find in Chrome "
In my opinion That's a smart and cheap reward for discovering a bug by big G, they could afford a little bit more
I saw this newz too, I believe this is good idea, making other people try to poke and find security holes in the software and then paying them some money for reward purpose. This keeps motivating individual security researchers to find bugs in popular software. If only all big software companies followed this reward method...