I will represent the 3 Geeks Blog on the upcoming Reuters Events: Legal Leaders 2021 (October 19-20, Online). This industry-leading event is uniting the biggest names in corporate law to help General Counsels supercharge their expertise as strategic business advisers, enhance enterprise value, and leave behind a proud legacy.
I am very excited to moderate
My partners and I made a thing. We hope you enjoy it.
We poke light fun at lawyers (which all three of us are) for remaining too analogue in an increasingly digital world. Our central premise is that digital transformation is inevitable (and already happening and good and hard and we at LexFusion can help). Underpinning the premise are some hypotheses about the shape, pace, and drivers of change in legal service delivery. We might be wrong. But our bets match our predictions. We all left excellent jobs to push our chips in on an accelerating growth curve in legal innovation. In short form:
As is appropriate here, I nerd out slightly on our hypotheses below (for an even deeper treatment, let me commend to you the inimitable Jae Um, one of our advisors, from whose magnificent five-part series I borrow liberally–or check out Jae’s recent Tweet storm).
Cost 🡹 The clip hits on the general dissatisfaction with how lawyers operate in the modern age, seemingly not taking full advantage of tools that have transformed much of our world.
The world has changed; lawyers, not so much.
For $600, Amazon will next-day deliver a pocket computer (phone, camera, browser, word processor, gaming device, rolodex, clock, calendar, calculator ….) that remains constantly connected to a searchable repository of nearly all human knowledge (real and fabricated). This technology barely existed in recognizable form twenty years ago. My favorite piece of context: less than a decade after their introduction, iPhones were 120,000,000x faster than the $23,000,000 computer that weighed 600 lbs. and guided Apollo 11 to the moon. (“The iPhone is nothing more than a luxury bauble that will appeal to a few gadget freaks” – Bloomberg, 2007 😂)
Alternatively, also for $600, a junior BigLaw associate will allocate one heavily discounted hour to a client matter. Despite the apparent opportunity to be tech enabled, this associate hour is hard to distinguish from the same associate hour that cost $200 two decades ago. And because legal complexity has outpaced productivity, the number of hours required has also gone up.
Clients “feel” they get less for their legal spend dollars because they do—relative to the trajectory in electronics, logistics, consumer goods, transportation, clothing, food, etc.
Law suffers from a cost disease, previously covered here:
This is Baumol’s cost disease, an economic phenomenon that undercuts the classical theory that wages rise with productivity. The classical theory: the more productive you are, the more you are paid. The reality is that (across industries, as opposed to within them) the less productive you are, the more we need to pay you (unless there is a glut of qualified workers competing for your job). Unsurprisingly, the eponymous Baumol identified “legal services” as subject to the cost disease. And recent scholarship has concluded, “Legal services are decidedly in the stagnant sector.”
Continue Reading Explaining the joke: lawyers lagging behind
Listeners know that we love asking our guests to pull out their crystal ball and tell us about the future. Joseph Raczynski is a futurist who works with Thomson Reuters, so he came prepared with a crystal ball ready to answer our questions on what the future has in store for the legal industry. We even get into the “red pill”, “blue pill” Matrix when it comes to how AI and emerging tech can go for good, or for evil. Joe gives us a peek into a future where some estimated 85% of the jobs of 2030 don’t exist today. While that might sound a bit scary to most of us, this futurist says there will be plenty of new opportunities emerging for those ready to take on a more decentralized world.
Our good friend April Brousseau joins us to discuss her role as Director of Research and Development at Clifford Chance’s R&D Hub. The fact that a law firm has a dedicated R&D group shows how innovation cannot simply be a part-time task that someone at the firm takes on. April’s diverse background as a law librarian, lawyer, and knowledge management leader paved the path to her current role in the R&D Hub and the innovation program. She discusses how they’ve adapted the Three Horizons Strategy from the likes of Gartner and McKinsey, and how they are transforming the core of their operations to complementing services and business assets at the firm, and looking at the future of legal services to stay ahead of the disruption curve. We also learn what a HiPPO is inside a firm. 
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Twitter: @gebauerm or @glambert.
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In an industry focused on revenue and profit, where does something like customer experience stand in the priorities of legal providers? Leigh Vickery, Chief Strategy and Innovation Officer at Level Legal, as well as CEO and founder of Queso Mama, says that we need to look at the corporate and legal industry world differently. Instead of putting shareholders and partners first, they need to fall much further down the list. If you take care of your employees and your customers first, there will still be plenty left over for the shareholders and everyone is better off in the end. “They’re so busy that our practitioners need to realize not a 10% improvement but a 10x improvement in productivity before they will take the time to investigate, let alone implement and incorporate, a new tool” is an observation the always astute Kyle Dumont of Morgan Lewis made to me the other day.
Kyle’s insight reminded
This post was originally published twelve years ago today. However, as I ponder the topic posed by Northwestern Law Professor Michael Zuckerman about how law students shouldn’t use automated writing technology because they will miss out on learning how to do initial drafts, this post seems as relevant now as ever. – GL]
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Suffolk Law Professor Shailini George joins us to talk about her new book, The Law Student’s Guide to Doing Well and Being Well. Professor George talks about the need for law students to take better care of their mental and physical health in order for them to not only do well in law school but to be better lawyers once they enter the profession. Whether it is stopping task switching, setting boundaries on their time, or allowing themselves to be bored, she lays out a guide for students to do better, by being better to themselves.
She shares some of the techniques and projects she developed in her classroom, that help law students better understand how they need to focus on the task at hand. And, how to reduce the number of distractions that call out for their attention. This Fall, Professor George begins teaching a new course based on her book to help students create healthy habits and lifestyles and to develop coping mechanisms to better handle points of crisis that may come their way.
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Information Inspirations
Products like Casetext’s Compose and Brieftext.com worry Northwestern Law Professor Michael A. Zuckerman that law students will use these tools to work around the practice of drafting documents, and learning the process through doing. We think that perhaps technology doesn’t have to be seen as replacing the learning process, but rather enhancing it.
We’ve heard a number of legal tech stories, mostly involving men, but in this Women Love Tech article, Laura Keily explains how she developed Immediation in 2019, while also raising two young children. When COVID hit in 2020, Immediation suddenly became a very big deal.
Greg discovered that the big push to come back to the office can open up unexpected opportunities, including artificially increasing those serendipitous interactions by hanging out near the ice cream machine.
US Attorney General Merrick Garland laid out some new standards for the FBI to use in order to confiscate journalist’s information. The balancing of the First Amendment and the need for FBI investigations seems to be shifting in the new administration.
Dentons Nextlaw Labs‘ Maya Markovich understands that rational lawyers would observe market dynamics and client pressures to weigh the costs and benefits of adapting their behaviors to survive change, stay employed, and make their work more fulfilling. But, people don’t always make rational decisions. And, law firm’s economic structure incentivizes lower efficiency as a method of obtaining higher revenue. Apple Podcasts | Overcast | Spotify
When we all started working from home last March, we each did something to help us keep sane and stay engaged with our families, our friends, and our peers. Eugene Giudice found a unique way of doing just that with a daily note to all of the above. After more than a year of these daily inspirational emails, he put them into a book called Reflections During a Pandemic: Thoughts While Sheltering In Place. Eugene’s writings mark places in time and bring back memories of those periods of hope and despair. As we begin exiting the pandemic, it helps to reflect back on where we were, and how we managed to get through it.Continue Reading The Geek in Review Ep. 123 – Eugene Giudice on Reflections During a Pandemic