It's basically a realtime simulation of a game development shop - working its way from a tiny startup company to an award-winning game dev studio. You start out in a tiny office that only holds 4 people. So you go out and hire employees with various levels of talent. The different skillsets include programming, writing, artwork, and sound. You can then train and level up your employees - or fire them for better talent. For cash, you can take on contract work (odd jobs like story writing, character design, or little mobile apps) or develop a game. You get to choose the game's platform, the genre, the theme, and the focus (graphics, innovation, etc.). You have to choose the right game based on your fan base, your funds, your skill level, and whatever console is popular at the time.
Simply put, this game is freakin' rad. Play it!
http://wireless.ign.com/articles/112/1128588p1.html
P.S. For the record, I'd rather be building MY OWN game dev shop in real life - but this is all I have time for at the moment.
. I can't decide whether the game is a bit glitchy or I just suck...