Harvey

“For example, Harvey, you go to try to influence Harvey. You just throw the data. Don't give me anything other than just data. Just tell me the data. Don't tell me the story. You got a Chris Cox. Don't just throw data at me. Tell me the story, please.”

“And it ended up being that the senior leadership that did not like what I was saying and I almost got fired for it. And, but that's when I think people like Harvey and Alex at Facebook actually backed me up.”

“We've invested in a lot of application layer companies, and that are solving very specific pain points. And the way we've looked at it pretty simply is, if you think about, we took actually the top 20 jobs in the US, and who makes the most? Simple. And it's do…”

“I think Harvey is a great company. I don't think it's going to get disrupted by open AI.”

“And in addition to contract management, which is a much, you know, bigger thing, we also have this AI product that we've built. It's called Jurist, which is a Harvey competitor. It's pretty cool. And it's grown real quick.”

“We did these evals recently. Claude three seven, in particular, for legal reasoning, it's better at long form legal reasoning and drafting long form outputs.”

“The thing that we did wrong there was actually people want to just make those terms in the grid itself. People don't want the AI to convert it. They just want to say for these 10,000 agreements, I just want this one thing created in the grid itself. They want …”

“One framework that we have at Harvey is land, expand, lock in. What things can we build slash do to help us land new customers? What can we do to help us expand and grow usage? And then third is how do we make ourselves a moat and very sticky with customers? T…”

“The first thing we do when we build something is. We have an extensive set of lawyers internally doing various roles. We give it to those lawyers and they test it and they give feedback and we iterate. And then we have selected design partners that are consist…”

“That is an example of where the right user experience is the AI should just pick for you. The AI should just know what user query and intent is, or it should ask you questions to understand it better. And then it should just route you to the best system. For t…”

“So I think particularly early on at Harvey, we did the dictatorship. Me and Winston are just like, we're going to do X, Y, and Z and Go, go, go. I think again, as you hyper grow, you assume everyone has the same context that you do. And that's just not the cas…”

“I mean, I think it's probably, it's not that much. It's probably like, 20%.”

“PMs on my team create prototypes all the time using cursor or using a Claude to show, you know, show their ideas.”

“Right now we have to focus on Harvey, the productivity suite, the software that lawyers use, and not the Harvey that, that does the work end to end.”

“Our models of choice are open AI right now... So they've been investors in us from the beginning. We've gotten early access to open AI Models for a long time. We've built some custom solutions with them. For the most part, that's still the case.”

“If you looked at Harvey at the Series A and you saw its product, you probably weren't that impressed. It was just a very early product. The scaffolding of it was clear. What was possible with better models was clear, but it was still a very early and raw produ…”

“Harvey isn't some breakthrough in legal AI. It's chat GPT with a law costume.”

“If I'd met Harvey at the seed stage, I would have said this is great, but I don't know that I could have told the difference from the 11 other ones that were doing this amazingly as essentially, I hate the term, but as wrappers.”

“No, but the other thing is happening. It's the other way around.”

“He's scaled the firm with one-sixth of the capital of his closest competitor, Harvey, who've raised a reported eight hundred million dollars, while Legora has raised just a hundred and twenty million.”

“I don't understand Harvey being a five billion dollar company and seeing the upside to 20 given that fragmentation.”

“Now I'm building Lagora in a way where even if Harvey's free, a firm will choose to work with us because that's how much better I want to be in terms of our product and our service offering and where we take our clients and the work we do for them.”

“I think they made a lot of fundamental errors around, for instance, fine tuning and spending time on the wrong things.”

“Companies that are on that trajectory or have crossed that trajectory are companies like Harvey and Open Evidence and I think, and Clay and Juicebox.”

“Harvey raises a hundred and fifty million bucks Eight billion dollar valuation led by our dear friends at Andreessen.”

“A little insider at Harvey one of that not so quiet investors shared with me that they're at a hundred and fifty million in ARR. Their DAU to MAU ratio is 40%, which I thought was astounding. Like, usage-wise, phenomenal. GRR, 98%. NDR, a 170%.”

“Whatever Harvey is today, it's going to get better. And I guarantee you it's a better piece of software next year than it is at eight billion. Right. And it will replace more mediocre associates”

“If it's 400 forward revenue, that's 20 X. Agreed. That's what it is. 400 next year. They're, 400 ARR. That's what they're predicting. 400 ARR. Not GAP. 400 ARR. That's my guess.”

“11 Labs has this, ChatGPT has this, XAI has this where it's organic customer acquisition or, you know, very low cost sales acquisition, Abridge, Harvey, companies where, like, the market is just absolutely starving for their product.”

“Our DAU over MAU for people that use four plus product lines is 74%.”

“One of the ones I have that I think was a good habit in the beginning of the company is now, and now it's starting to get bad, is I zero out Slack, like, every, like, 15 minutes, and so I'm in, like, almost every single Slack channel, and I read every single t…”

“There are a lot of areas where we are going to start moving to consumption based pricing. And I think for, at least for us, for our customer base, that would be completely fine with them.”

“What I actually do is there's a couple investors that I've become decently close with, and when it's time to fundraise, Usually we get preempted or I say, Hey, I think it's like time to fundraise. And I reach out to literally like one or two people.”

“Starting to happen is those departments are adopting Harvey, even though we haven't built features specifically for those departments.”

“And now if you look at our team, it's almost like 40% of our entire EPD org is very senior from like a data breaks or something like that, infrastructure engineers.”

“I took too long to hire senior execs in some instances, and it caused us problems. It created competitors when there shouldn't have been competitors, things like that.”

“Our goal is much, much higher than that and I think we can do better than that this year.”

“We're in 60 countries now.”

“So our first investor was OpenAI and then our first two angel investors were Sarah Guo and Elad Gil.”

“A vast majority of VCs give you that brand, and what's actually interesting for us is, like, someone like EQT actually gives you that more than Silicon Valley because they're private equity, and, you know, a lot more lawyers know who that is, et cetera, right?”

“I think it's around 40% of our revenue is in-house corporate, and 60% is law firm. Something like that.”

“Not entirely, but there were definitely, so we route basically based off of the use case, we route to the best combination of models and definitely our traffic went up to Opus 4.5 significantly.”

“One of the biggest jobs that you have is to make sure that your team doesn't feel like they've already won, right? Because the reality is the market pull is massive, and so sometimes your success isn't just your execution, it's the market pull, right? And so y…”

“The actual terms, I don't remember what the post actually was, but the pre-investment was like, it was like four million or something like that.”

“I think that if you are number two in the market, one of the things that's, that can get you a lot of attention is just attaching yourself to number one in any way, shape, or form, right? You kind of get free press from doing that type of thing. It's a good wa…”

“I mean, we were like, when we signed Anno Sherman, which was our first customer, we had four people. So we did a 4000 person enterprise grade rollout with four people.”

“The vast majority of our customers don't know who Sequoia, A-sixteen, Z, or any of those people even are, right?”

“There's nothing in like our agreement or our relationship or anything like that, that you have to use OpenAI models.”

“When we did our seed, and we didn't go to anybody else. It was just OpenAI.”

“And of 86 out of a hundred questions, three out of three said, this is a perfect answer.”

“I think we were, it was 1.5 is what we were valued at, and our revenue was definitely lower.”

“It didn't do that back in 2023 as a starting strategy. I doubt that that's going to be the difference maker today.”

“I was on Bloomberg a couple of weeks back and they had a big infographic that said that the most deployed generative AI tool in the top 200 law firms in the UK outside of Microsoft Copilot is Legora. Number two was Harvey.”

“So for both those numbers, yes.”

“The other advantage that the new entrants have is that if you have the best agent and you have the kind of market demand we see, right, then you're for you, your inference costs are a marketing cost. The established players don't have that luxury. They're alre…”

“In this product cycle, what's actually interesting is a bunch of the early leaders from 23 and 24 have maintained their lead. You know, we talked about Harvey. That's a really impressive company. You know, Gamma is a really impressive company. You know, Cursor…”

“We had an early stage practice at the time that we were really involved with, and we did lose the A.”

“We have one big competitor, and they come up on every, it's a, you know, death match on every deal. It's super competitive. We have a ton of respect for them.”

“That's a hard one. And I don't want to give, I don't know if I want to, you know, give an inch at all, but I mean, certainly the strength of their brand is something that, that is, is hard to deny. They've done a great job. They were the first entrant and they…”

“I mean, they know who we work with. We know who they work with. We're both trying to get in. We, we're very aware that, you know, they know who our customers are. We know who theirs are. We're both going aggressively after it and also scaling up quickly to go …”

“Now what does Harvey cost on average? 150,000 dollars a year per law firm.”

“I think they've been more aggressive with hiring, which I actually think I have not been aggressive enough with hiring because I've always tried to have a very, very small, very lean team, which I believed a lot in.”

“Now, I actually think this is good for Harvey because it's nothing like trying to do something yourself to make you realize, oh, shit, this is actually really difficult. This doesn't actually matter for us to have the in-house ability to build this ourselves. …”

“Every deployment they do at Harvey has an FD and a lawyer. Every single deployment has a lawyer, right?”

“Harvey, the CEO of Harvey himself is saying that, you know, his biggest competitive worry is the model labs.”

“It's like priority number 12 for Anthropic is probably not high enough for Harvey and LaGuardia to be too scared.”

“If you're Lagor or Harvey, dude, you've got to go into Cooley or Clifford Chance or any of the, build relationships with fifty-year-old white male partners who want to play golf and be told that they're great and that You know, life is awesome. And then you go…”

“And the first one of those guys that, that has a security leak and security problem, and it will happen, Is going to wreck their market opportunity.”

“Probably legal. I think there's, you know, there's just so many me too's in this category. Whereas I think that the winner is already in existence. I'm obviously biased, but I think Harvey is very well positioned because they have the widest distribution. And …”

“I think you're going to have specialized models for specific use case, like legal tech. If you look at Harvey, for example, I know they're, I think, leading the category in terms of specialization, but I think the large frontier labs are still going to be the …”

“If coding is a half a trillion dollar market, and you have two companies like Harvey and Legora, I don't see why there's not a half trillion dollar market in law.”