Legalcomplex

Yesterday, legal tech raised $1 Billion in a single day. Here are all the top rounds we've recorded since 1984...role tape...🎥 @goclio @harvey__ai @jack_newton @bobambrogi @Steven_Lerner @legalcomplex @legalpioneer

Go Gunners

Here are the Top Raises in Legal of all Time...not just legal tech. This includes public companies, debt financing, and litigation funding...for the generous legal geeks 😇 @Steven_Lerner @bobambrogi @NickJRishwain

@bobambrogi @goclio @harvey__ai @jack_newton @Steven_Lerner @legalpioneer Agree, I’m generous 😇

@legalcomplex @goclio @harvey__ai @jack_newton @Steven_Lerner @legalpioneer As you and I have discussed in the past, you have a more generous definition of legal tech than I.

Yesterday, legal tech raised $1 Billion in a single day. Here are all the top rounds we've recorded since 1984...role tape...🎥 @goclio @harvey__ai @jack_newton @bobambrogi @Steven_Lerner @legalcomplex @legalpioneer

@ronfriedmann @TribeMeghan We've seen this movie before...with ediscovery. Is this time really different?! 😇😈

Lowenstein Plots Lawyer Hiring Spree in Big Law’s Era of Growth @TribeMeghan news.bloomberglaw.com/business-and-p… The statement by the firm's chair implying huge productivity boosts using #LLM caught my eye.

...waiting on politics

@ronfriedmann @ronfriedmann so does the eDiscovery bubble end...

Autonomy CEO Acquitted on All Counts in HP Fraud Trial | Corporate Counsel — Wow law.com/corpcounsel/20…

Value: New Business Models in the Era of AI - especially a good read for anyone earning a living with cognitive skills..or working for a enterprise that sells knowledge analysis by @legalcomplex legalcomplex.com/2024/06/05/val…

We now ask AI to answer complex questions. Eventually, AI will also take actions on our behalf. At that point, will we lose free will? legalcomplex.com/2024/05/13/dli…

@Steven_Lerner @DyeDurham @Steven_Lerner I'm not financial analyst so i can't figure out what impact their debt has on performance. I only know that it worries some activist investors enough to start poking around, what is your take?

How did @DyeDurham perform in the last quarter? The #legaltech company just reported results right now.

The two biggest biases you’ll run into when doing a startup are from people that know *too* much: 1. This problem is already solved and doesn’t need a new solution 2. Every time this problem has been attempted to be solved it never works Sometimes you just need fresh eyes.

@ronfriedmann @ronfriedmann if history is any good indication, we have a pretty good idea who the winners will be

The AI Revolution Is Here. Who Will Be the Winners and Losers in Legal Services? ALM law.com/corpcounsel/20… Good discussion and IMO, no one yet knows the answer.

@t_blom @t_blom curious: as an angel, did you expect revenue a month after the fundraise? Why use words 'hide' and 'problem'? Do you invest in Biotech or climate change? ...famous Warren guy, once said something about 9 months to make a baby...you like revenue more than babies? 👼🏻

One of the bravest and most disciplined companies I’ve worked with sent investor updates every month with “$0 revenue” at the very top. They sent it consistently every month for more than an year and never made excuses. They said “this isn’t good enough and here’s what we’re doing to try to change it.” They eventually figured it out and revenue started to grow. A lot of founders try to hide behind long paragraphs of explanation when things aren’t going well. Or they stop sending investor updates altogether. These aren’t good strategies. Face your biggest problem head on, don’t hide from it.

@ronfriedmann @BLaw @ronfriedmann @HoraceWu is anyone missing the similarities with Atrium LTS...raise $75M to replace lawyers...then hire lawyers...then collapse from lawyer salaries...or is it just me⁉️

AI Startup Harvey Seeking ‘All Sorts’ of Lawyers in Hiring Spree @BLaw news.bloomberglaw.com/business-and-p… 82 employees, aiming to double that, 50 jobs open SF start-up opening NYC office Dec valuation = $715M #BigLaw lawyer-in-the-loop to train #LLM model Primary focus is #BigLaw

@Andrew_Perlman @AnthropicAI @Andrew_Perlman specifically, can it reference cases correctly, without providing it with source data? Except for research, what other law-related use cases is it good at?

I've been testing @AnthropicAI's new Claude 3 Opus (the premium version) on law-related use cases. It is at least as good as GPT4 and better in many cases. (This was not true of Gemini, in my experience.) Impressive.

@Steven_Lerner @csdisco @Steven_Lerner While legal tech, in general, is a super low-churn business, eDiscovery, in general, seems to be the opposite

The financial results for the #legaltech company @csdisco were just announced. What stood out to me? The number of customers fell from the last quarter.

@strowhiro @strowhiro eventually AI will take legal jobs and after lawyers have been displaced, AI will generate new roles and task..first one: fact-checking legal work from lawbots legalcomplex.com/2024/02/15/lay…

“AI will take lawyers’ jobs” The AI:

@Steven_Lerner @intapp That's because @intapp smartly diversified their income streams...

The #legaltech company @intapp just released its financial results. Overall good on the surface. 📈

@Steven_Lerner Perhaps in valuation but not in ROI

👀Would be the biggest deal in #legaltech ever if it happened.

@Steven_Lerner @Steven_Lerner it is bad people using AI

The bad side of #AI (welcome to 2024!) nbcnews.com/politics/2024-…