Getting home last night (actually early this morning) from #ILTACON24, I had a chance to finally catch my breath. I flew into Nashville early on Monday to catch the keynote, Hannah Fry explain that the single most human word that differentiates us from the machines is “POOP.” This made the 13-year-old boy in me very

This week on The Geek in Review, we discuss the future of legal technology with Dr. Megan Ma, a distinguished research fellow and Associate Director of the Stanford Program in Law, Science, and Technology at the Stanford Center for Legal Informatics, also known as Codex. Dr. Ma’s groundbreaking work in integrating generative AI into legal applications takes center stage as she shares her insights on translating legal knowledge into code and the implications of human-machine collaboration in the legal field.

Dr. Ma discusses her unique background in law and linguistics, emphasizing the challenges of translating legal language into deterministic computer code. Her fascination with language and its nuances has inspired her research at Codex, where she explores how legal concepts can be effectively communicated through technology. She recounts her academic journey, explaining how her multilingual skills and interest in natural language processing have shaped her approach to developing legal tech solutions.

At Codex, the mission is to empower the legal system through innovative technology. Dr. Ma describes Codex as a collaborative hub, where experts from various fields work together to address inefficiencies and pain points in the legal system. She highlights the center’s commitment to human-centered design, ensuring that their technological advancements are co-created with relevant stakeholders. This approach ensures that the tools and solutions developed at Codex are practical and beneficial for both lawyers and clients.

One of the standout initiatives at Codex is their mentorship model, designed to mirror the traditional mentorship found in law firms. Dr. Ma explains how they use AI to create legal personas based on the redline practices of experienced partners. This innovative approach allows junior associates to receive focused guidance, helping them improve their skills and knowledge in a more efficient and impactful manner. By integrating AI into the mentorship process, Codex aims to bridge the gap between theoretical legal education and practical experience.

Dr. Ma introduces the concept of agentic workflows, where AI agents make autonomous decisions based on specified goals rather than predefined tasks. This dynamic interaction is particularly useful in legal negotiations, where unforeseen circumstances often arise. The negotiation model developed by Codex includes features like client rooms, expert consultations, and various levels of difficulty to simulate real-world scenarios. This hands-on training tool is designed to help young lawyers navigate complex negotiations and improve their problem-solving skills.

In the Crystal Ball segment, Dr. Ma shares her vision for the future of legal technology. She emphasizes the importance of developing tools that tap into the legal brain, focusing on the process behind legal decisions rather than just the end product. By capturing the experiential knowledge of seasoned lawyers, Codex aims to create more effective and intuitive AI tools that can support the legal profession in new and innovative ways. Dr. Ma’s insights highlight the potential for AI to transform the legal field, making it more efficient, accessible, and responsive to the needs of both practitioners and clients.

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Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Transcript

Continue Reading Training AI to Mentor Like a Partner: Insights from Dr. Megan Ma

If you’re like me, your in-box (and SPAM filter) were packed with ILTA messages to come visit vendors at booth #XXX. It is amazing how many vendors and legal tech folks who are going to be there and vying for your attention next week. I have to say that my calendar is packed, and that’s

This week, we sit down with Conrad Everhard, founding partner of Flatiron LLP, a pioneering law firm that has revolutionized M&A services with their innovative flat fee model. Conrad shares the fascinating origin story of Flatiron, its unique approach to legal services, and the challenges and successes they’ve encountered along the way.

Everhard recounts the inception of Flatiron LLP, co-founded with Mark Haddad and Lenny Nuara, former big law partners, who sought to modernize legal services post-financial crisis. Despite their elite backgrounds, reentering the private law firm space proved challenging due to their detachment from Big Law for a few years. Driven by their frustrations with Big Law’s resistance to change and the convergence of factors such as acceptance of virtual models and access to senior labor, they took the bold step of founding Flatiron. This new model law firm leverages technology and client-focused solutions to disrupt traditional legal services.

When it comes to Flatiron’s groundbreaking flat fee M&A services, Conrad explains that the motivation behind this disruptive approach was to bring more transparency, predictability, and cost-efficiency to the fee structure. Over several years, Flatiron has honed a model that relies on low overhead, innovative labor deployment, and technological advancements. They operate on a general contractor model, utilizing a network of expert contractors on a project basis, which allows them to offer high-quality services at a lower and more predictable cost compared to Big Law.

Conrad highlights Flatiron’s development of “Deal Driver,” a workstream efficiency platform that streamlines the M&A process. Initially created as an internal tool, Deal Driver organizes and manages data through each phase of a deal, incorporating AI and human intelligence to enhance efficiency. This platform has not only improved their internal processes but has also gained popularity among clients, leading to its spin-off as a proprietary platform. The success of Deal Driver underscores Flatiron’s commitment to innovation and client satisfaction.

Flatiron’s unique labor pool taps into senior associates and counsel with elite firm backgrounds who, for various reasons, seek alternative work environments. Flatiron offers better pay and a more flexible, engaging work culture, attracting highly skilled professionals. Conrad emphasizes the importance of their “coolness factor” in recruitment and client acquisition, noting their collaborations with Stanford Codex and the positive reception from private equity clients who appreciate their efficiency and data management capabilities.

In the crystal ball segment, Conrad speculates on the future of the legal industry. He predicts that traditional Big Law firms may eventually adopt more innovative models, possibly through spin-offs or off-brand ventures, to stay competitive. Additionally, he foresees alternative legal service providers and sandbox experiments in places like Utah and Arizona challenging the traditional legal market. Despite the potential for disruption, Conrad remains confident in Flatiron’s model, emphasizing the green field of opportunities ahead and their readiness to adapt and innovate continuously.

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Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Flatiron LLP: flatiron.legal
Conrad Everhard on LinkedIn: Conrad Everhard
Email: ceverhard@flatiron.legal
Flatiron’s Deal Model
Negotiation Simulator
Demo at Codex
Article on Fixed M&A Deals

TRANSCRIPT

Continue Reading Inside Flatiron’s Flat-Rate M&A Model with Conrad Everhard

This was one of those weeks where I had to decide whether to scroll through a few hundred/thousand emails, or just declare email bankruptcy after spending the previous week in Chicago at the AALL Conference. I won’t say exactly what I did… but, I will say it was the faster of the two decisions. ILTACon

This week, we discuss the evolving landscape of professional development and training within the legal industry. With a special focus on innovative methods and technological advancements, this episode features insights from three distinguished guests: Adam Stofsky, CEO at Briefly, Ian Nelson, Co-Founder of Hotshot, and Caitlin Vaughn, Managing Director of Learning and Professional Development at Goodwin. Together, they explore how modern training programs are being reshaped to meet the demands of a rapidly changing legal environment.

Staying Relevant in Rapidly Changing Times
Adam Stofsky discusses the challenges and strategies for keeping legal training content fresh and relevant. Briefly’s custom content creation, which addresses real-time issues faced by legal teams, ensures that the material is always up-to-date. Stofsky highlights the importance of integrating modern tools like AI to enhance training efficiency without losing the human touch. The conversation transitions into how technology like AI and tools such as Descript are transforming content creation, allowing for more efficient and scalable training solutions.

Practical Skills and Training Innovation
Ian Nelson emphasizes the importance of practical skills over theoretical knowledge in legal training. He shares Hotshot’s approach to delivering hands-on, practical training that prepares lawyers for real-world scenarios. Feedback from users indicates a high demand for practical training that directly supports their daily tasks. Nelson also touches on the strategic importance of training programs, noting how firms are increasingly integrating such programs into their overall professional development plans.

Goodwin’s Comprehensive Training Program
Caitlin Vaughn presents an in-depth look at Goodwin’s first-year associate training program, a full-time, eight-week initiative that combines technical and professional skills development. Vaughn explains how the program blends live sessions, asynchronous learning, and interactive components to create a holistic training experience. This innovative approach not only prepares new associates for their roles but also fosters a culture of continuous learning. Vaughn also discusses the integration of laterals, focusing on personalized training plans to address individual needs and ensure smooth transitions.

Future Challenges and Opportunities
In the crystal ball segment, the guests share their insights on the future of legal training. They discuss the challenges of managing rapid changes in law, technology, and training methodologies. The consensus is that while there are significant challenges, there are also immense opportunities to innovate and improve the effectiveness of legal training. Customization, quality content, and effective pacing are highlighted as key factors for successful training programs in the future.

The discussions underscore the importance of innovative, practical, and engaging training solutions that keep pace with the evolving demands of the legal profession. As the legal landscape continues to change, firms that embrace these advancements will be better positioned to equip their lawyers with the skills they need to succeed.

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Contact Us: 

Twitter: ⁠⁠⁠⁠⁠@gebauerm⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠@glambert⁠⁠⁠⁠⁠
Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Contact Information:

Adam Stofsky: Adam@brieflynow.com | Briefly | LinkedIn: Adam Stofsky
Ian Nelson: Ian@hotshotlegal.com | Hotshot | LinkedIn: Ian Nelson
Caitlin Vaughn: LinkedIn: Caitlin Vaughn

Transcript:

Continue Reading The Evolving Role of Training and Professional Development in the Legal Industry

Hiking the Windsor Trail in the Pecos Wilderness

I’m not a backpacker. Sure, I’ve gone on day hikes with a rucksack and granola bars. I regularly go kayaking in alligator infested bayous (still haven’t seen one in the water), I have even been glamping under the big and bright Texas stars. Yet, with the exception of scouting experiences as a child and one ill-fated camping trip in a truck pop-up tent, at the end of the day, I have always found my way back to a comfortable bed and a shower. Until a couple weeks ago, when I agreed to go backpacking in the wilderness of New Mexico.

My partner in crime, trail name Chiripada, has done this before and loves it. He picked up his trail name from a winery we passed, and it turned out to be more apropos than we realized. Like many Spanish idiomatic words and phrases, translation into English does not necessarily capture the subtlety of the true meaning. Chiripada is one of those words. It roughly means “unexpected luck” or good luck within bad luck. An example is that you spill your coffee, but you find money under the table when you clean up. That was much of our trip in a nutshell.

You would not think a career in legal innovation would prepare you for your first backpacking trip, but surprisingly, similar lessons can be applied to both.

1. Expect the Unexpected

Just like handling evaluations of tools, nothing ever goes completely according to plan. And we had more than a few things not go according to plan. Thankfully our chiripada prevailed–no one was injured and no major damage occurred.

We knew Hurricane Beryl would hit land in Texas, but at the time of our departure, it was not estimated to have a great impact where I live. Nevertheless, I prepared my family, stocking up with water and food (bread and milk!), and lots of instructions. Which turned out to be a good thing because the day before the storm hit, we discovered the eye was going right over my town.

It wasn’t supposed to storm at Williams Lake (elevation 11040 feet). There was not supposed to be thunder and lightning and cold temperatures. I can now say a severe thunderstorm at elevation in a tent is quite a different experience than when you are sitting in your house. At home, you worry the power will go out. In the wilderness, you worry you will get struck by lightning. We survived and had a brisk but lovely hike down the mountain early the next morning.

We never made it to one camping destination at Stewart Lake (elevation 10232 feet) (more on that later). We were lucky to find one flat spot before it got dark. Thankful, we settled in for the night only to be awakened at 3:00 am by an irritated bear. I know it was irritated because I looked up “bear sounds” after our return to civilization and learned that huffing means a bear is upset. Which was likely because a tent with smelly humans was on its turf. We sat in the dark, tense and listening until our guest moved on into the night.

2. But Prepare as Best You Can

When evaluating tools, it is necessary to prepare. You assess tools, you prepare requirements and questions to ask vendors. When you are presenting, you make an outline, craft a presentation and review it.

My job for this trip was to prepare the itinerary and book the rooms we would stay in between hiking jaunts (I would be useless figuring out what to pack-I left that to the expert). I took my job seriously, making an excel sheet of the places we would go, careful to include driving distance, hiking distance and anticipated time allotted for each. Did we completely adhere to this itinerary? No. Was it useful to know our timeline and keep track of our days (you do forget what day it is)? Yes.

3. Travel LightContinue Reading Ten Legal Innovation Lessons for the Trail

It’s been a bit of a crazy week around here. Power is back on in (most of) Houston, and I’m headed to Chicago for the American Association of Law Libraries Annual Conference. Hopefully, the massive Internet outage that’s happening with CrowdStrike and Microsoft 365 won’t have me hanging out at the airport bar all day.