Nicholas Bruch

@ronfriedmann For Providers: non-lawyer ownership. For buyers: portfolio sourcing mindset (as opposed to engagement by engagement mindset).

If you could magically make stick one change in each of #BigLaw and corporate legal departments to improve them, what would it be and why? I have my answer and want to open this to discussion first.

@AlexHamiltonRad @CrispinPassmore @Nicola_Shaver @ronfriedmann @Farewill @LegalZoomUK @RocketLawyerUK @oneillpatient @kpmguk @EYnews @SlaterGordonUK @ElevateServices There is a lot to unpack here. The UK/OZ reforms have had slower impact than many anticipated, but don't confuse that with no impact. In some ways its striking how far we have come in the past decade. To @CrispinPassmore's point there are big examples of innovation.

@CrispinPassmore @Nicola_Shaver @ronfriedmann @Farewill @LegalZoomUK @RocketLawyerUK @oneillpatient @kpmguk @EYnews @SlaterGordonUK @ElevateServices But what is actually that much better for the client outside the US? I'd love to see evidence that 5.4 is demonstrably the end of the world, but corporate clients get what they deserve everywhere and consumer experience seems to be a function of public funding

@jborstein @AlexHamiltonRad The 3rd issue is the size of the market. Enterprise technology sounds like a sexy big market. But never under-estimate the power of inertia and the band-aid approach. My hunch is this market is big but smaller than many investors hope.

@jborstein @AlexHamiltonRad The key question is where are we in the cycle? Are we in the middle of stage 1, where more investment leads more tools or are we in the beginning of stage 2, where consolidation starts to yield a new more efficient buying and development market? The answer isn’t clear to me.

Coming to the conclusion that legaltech is finding it easier to get investors than customers

@jborstein @AlexHamiltonRad How investment relates to the sophistication piece is straightforward. It can speed up development and make tools better. Some money (probably a lot) will be wasted, but the sheer volume of money going into legal tech promises gains in functionality.

@jborstein @AlexHamiltonRad As my attention has turned toward legal tech what has amazed me is the lack of sophistication of the tools and the sheer volume of tools. These are the two central problems facing legal tech in my mind. Investment can (potentially) solve both.

@ZachAbramowitz What legal implications are you curious about?

I’d be interested in the results of the following survey. Are GCs and CLOs at Fortune 500 companies fielding questions from management about the legal implications of keeping crypto currency on the balance sheet?

@robsaccone @ronfriedmann @jordan_law21 @cguimond11 @ALMIntelligence Im tempted to think there will two kinds of legal service provides going forward. One group will be built around top talent. Their operational model will be built to attract, develop, compensate, and support those people. (6/?)

@robsaccone @ronfriedmann @jordan_law21 @cguimond11 @ALMIntelligence I too am skeptical full service firms can remain viable. My working hypothesis for some time has been that the market is splitting along the “expert advice” and “process expertise” fault lines. What does this mean practically? (5/?)