Mishin: Average Am Law 100 attorney must bill 2,100 hours annually
“Average attorney at a M law 100 has to bill for 2100 hours a year, which means that you literally have to bill for every waking hour that you have per year. You cannot take vacations, and you cannot have any unbilled time during the year, because typical human…”
Mishin: Independent attorneys spend 60% of time on non-billable work
“Option two is you start your own business as an attorney, and if you start your own business, you spend 60% of your time doing non-billable legal work. You're chasing clients, you're doing business development, you're running around to conferences, you're reco…”
Weinberg predicts marginally faster attorneys will capture winner-take-all market dynamics
“And I think that that's what's gonna end up happening in knowledge work, where, you know, if an attorney is, is slightly better or slightly faster, they're gonna get all the work.”
Junestrand: Untechnical lawyers permanently churn if AI fails on first attempt
“At this time, almost everybody would churn because the products were so ChatGPT-esque and they required so much sophistication from the attorney or the lawyer to get value out of. And that's the gap that we had to close. You're serving somebody who's quite unt…”
Junestrand: Texting attorneys offering paid lunch yielded a 90% response rate
“And 90% response of says, hey Max, that sounds wonderful.”
Fisher: Trial lawyers adopt aggressive courtroom personas as professional costumes
“I find that a lot of attorneys are nice. They just think that that's what attorneys are supposed to be like. Or do. Or be. So to me, that's, you know, like you put on a suit and tie. That doesn't change who they are. It's also, it's their costume. It's their s…”
Founders Need Personal Attorneys Entirely Separate From Company Counsel
“As a founder, you know, you have your company attorney or whatever, but you do need to have Kind of your own really great attorney, just to have somebody to ask questions.”
Seelbach: Legal tech is attractive because attorneys rarely switch software
“Legal tech certainly has fallen behind some of the other big verticals, insure tech, the medical field, and I think people are now beginning to realize that legal tech is extremely attractive, and one of the things that's so attractive about it is attorneys fi…”
Seelbach: AI will disrupt how attorneys bill for their time
“AI is going to ultimately disrupt how attorneys bill for their time because AI is going to be that powerful in the years to come, and I think that's true”
Seelbach: Under 10% of attorneys in presentation used AI in their firm
“Last time I gave that type of presentation, I was amazed at how few hands went up when I asked how many attorneys are using Scribe, not scribe, but using AI in their firm currently, and it was less than 10%.”
Posner: Complexity, licensing, and habits delayed legal software adoption
“I can tell you that the work that attorneys do is extraordinarily complex. And they, and these are, there's a higher level of professionalism in this country. It requires additional education. It requires additional certification. With that comes more of peopl…”
Walling: Startup founders should avoid general local attorneys for operating agreements
“My advice would be not to find, like, a small town local attorney to do this, though. Even if that, if they have written up an agreement for the dry cleaner down the street, the, you know, the car wash or whatever, I would always look for an attorney, whether …”
Gaither: Law Pocket has about 20 pre-committed attorneys per state
“So we have about 20 attorneys that are pre-committed. We're in the process of building out our web prototype. So we have a roster of return, about 20 attorneys per state that are ready to get on the app.”
Traditional estate planning attorneys charge between $2,000 and $5,000
“Because it's kind of crazy, like an estate plan, if you go to an attorney, you're going to spend anywhere from two to 5000 dollars to set this up, just to make a simple update, like you had another kid, you bought a new property, you moved It might cost you a …”