Josh Maley

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Josh Maley

Josh Maley

@JDMaley

LegalTech Founder & CEO @Theoremlts | Attorney, Venture Partner and investor

Sumali Mart 2014
202 Sinusundan214 Mga Tagasunod
Josh Maley
Josh Maley@JDMaley·
If the firm can’t win business against the AM Law 100 firms on Theorem’s Inhouse RFP and outside counsel spend platform; then these firms won’t scale. I’ll offer to you all participation in one qualified opportunity for Free — when you’re ready of course —RFP.theoremlegal.com/providers Where AI-Native vs. Traditional Law Firms can compete in one central market 🏟️
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Pamir Ehsas
Pamir Ehsas@PamirEhsas·
We raised $9M from @ycombinator, @20VC and 20+ unicorn founders - to build the law firm you've always dreamt of working with; @MoritzLaw. Solving complex legal matters in hours, globally, without crippling your spend. So founders can build, employees can sell, and businesses can grow 🚀
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Josh Maley
Josh Maley@JDMaley·
@willchen500 @mattaparker @datarade It is important to note that sales x network effects = marketplaces, which are the most valuable software businesses... Software is a distro/growth model, it’s not infrastructure, nor hardware…
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WillC
WillC@willchen500·
@mattaparker @datarade Yes. But there are thick wrappers and thin wrappers. Thin wrappers are sales masquerading as tech.
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WillC@willchen500·
Harvey and Legora are essentially sales organisations that resell tokens. They have hired legions of ex big law juniors and mid levels as sales people (“GTM”) along with some ex partners to wine and dine their former colleagues. They slap on a UI that makes them look different from ChatGPT but the product differentiation and vertical specific features are far and few in between. You could just as well use both for any white collar job. Their web apps are basically 1. A chatbot interface 2. A projects function where you can upload your files 3. A tabular review function where you can bulk review documents in a table 4. Workflows which are just custom prompts you write for the chatbot or tabular review. I was able to build everything plus some additional functionality they do not have like version control in mikeoss.com in two weeks. I call this the “token reseller theory”. They are like car dealers or real estate agents but for tokens. The model providers get them to do the selling to crack open the reticent legal market. What happens to H/L now that the model providers want the market for themselves? Does not bode well for them.
Bohan@loubohan

Heard that Harvey is slicing their wrapper even thinner by outsourcing their product to Anthropic Managed Agents as they realize there is no data/posttrain moat on top of the models Harvey/Legora will become a brand + sales team distribution channel for Anthropic until they get bought or give up

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Josh Maley
Josh Maley@JDMaley·
Agreed, tho Distro matters — I actually think the value lies one step before this in who gets the work and how that selection happens—layering in procurement, payments and token assignment/consumption within your context paradigm will turbocharge agentification of non-complex work … capuring that workflow in mass from the buyers is being ignored. The market platform > the work platform.
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Jack Newton
Jack Newton@jack_newton·
Reselling tokens is the wrong framing — the question is how can you add differentiated value to the tokens with your product by creating uniquely powerful context. If you’re just a thin wrapper, your days will soon be numbered. True value is created when you enrich the tokens with context from both sides of the legal stack — the practice of law (the actual law in the form of the Clio Library) and the business of law (the operational graph of every firm on Clio Manage and Operate: matters, clients, billing, intake, documents. The work itself). This context engine creates truly differentiated value.
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Josh Maley
Josh Maley@JDMaley·
@jborstein It’s like a F1 race — you need to have capable competition in the rear-view mirror to keep pushing — we should all be thankful to @Microsoft, @AnthropicAI et al. , but also beware of the power that bundling has.
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Joe Borstein
Joe Borstein@jborstein·
When Microsoft announced the Legal Agent, the company said in its press release that it had been working closely with legal engineers to build it. However, Baretz + Brunelle partner Joe Borstein said he is skeptical of the tool’s capabilities and industry impact. “Legal tech is extremely domain specific, and I believe that history has shown it needs deep expertise and specialists to work at scale. I generally think it's good for the marketplace to have the big players thinking about it at all, but I'm skeptical that it will result in any major changes,” he said. “Microsoft made Microsoft Word, Microsoft also made Clippy. They make amazing things, and they make occasionally mediocre things, and we remember the amazing things because they last.” law.com/legaltechnews/…
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Alex Su
Alex Su@heyitsalexsu·
@willchen500 What you did was incredibly impressive. Very cool stuff!
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Alex Su
Alex Su@heyitsalexsu·
😮
WillC@willchen500

Harvey is valued at $11B. Legora just raised at $5.5B. I built their entire web application in two weeks and I'm making it open-source and free for everyone to use. Say hi to Mike: mikeoss.com. When I got the chance to try Harvey and Legora, I was surprised by how simple they were. A thought came to mind: I could probably build something similar in no time at all with Claude. And so I did. Assistant, project, tabular review and workflows. You get it all without vendor lock-in. Mike offers law firms an alternative, where they own the application layer and aren't stuck with a vendor they're renewing forever. You can try Mike in the demo on the website, or go to the GitHub link on the site to download the code and run a local version yourself.

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WillC
WillC@willchen500·
I just built an open source version of Harvey and Legora in two weeks. It’s called Mike: mikeoss.com It wasn’t too difficult x.com/willchen500/st…
Matt Miller@MattEvantic

Respectfully disagree here. Understand the desire to promote the company you’ve backed so will do the same. I looked at both and made the decision to back @winstonweinberg and team @harvey . We’ve invested twice now. Harvey is adding a full “legora” of revenue every few months and killing it across US AND Europe. There is room for two vendors in a market this large and complex but make no mistake, Harvey is THE market leader and the company is on fire!!! 🔥🔥🔥🔥

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Josh Maley
Josh Maley@JDMaley·
Honestly, I think the catalyst here isn't how the work gets done, but who gets the work to apply their Agents – rfp.theoremlegal.com My thoughts re these two, given our marketplace data is that @harvey is winning right now. That said, @gcai is making strides at the client level... Then again, I'm now the proud owner of jessica.legal 😉 HT @ZachAbramowitz
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Matt Miller
Matt Miller@MattEvantic·
Respectfully disagree here. Understand the desire to promote the company you’ve backed so will do the same. I looked at both and made the decision to back @winstonweinberg and team @harvey . We’ve invested twice now. Harvey is adding a full “legora” of revenue every few months and killing it across US AND Europe. There is room for two vendors in a market this large and complex but make no mistake, Harvey is THE market leader and the company is on fire!!! 🔥🔥🔥🔥
Paul Graham@paulg

Just went to visit Legora. Most impressive startup I've been to visit in years. They're going to surpass Harvey in 2027. After that their only potential rivals will be the model companies. And if ever there was a territory you could defend against the model companies, law is it.

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@jason
@jason@Jason·
We started an AI founder twitter group... reply with "I'm in" if you're a founder and want to be added
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Sam Ward
Sam Ward@Samward·
Contracted ARR is how copilot companies inflate the gap between logos signed and software actually used in production. The number that matters is workflow minutes replaced per seat, not seats shipped. Legal buyers are starting to ask for the second one in procurement. Once that becomes standard, a lot of these valuations look very different.
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Artificial Lawyer
Artificial Lawyer@ArtificialLawya·
Interesting! 🧐
Scott Stevenson@scottastevenson

It’s time to expose a huge scam in AI startups: Contracted ARR The reason many AI startups are crushing revenue records is because they are using a dishonest metric The biggest funds in the world are supporting this and misleading journalists for PR coverage. The setup: Company signs 3-year enterprise deals. Year 1 is discounted (say $1M), Year 2 steps up ($2M), Year 3 is full price ($3M). They report $3M as “ARR” — even though they’re only collecting $1M right now. The worst part: The customer has an opt-out option at 12 months! It’s not actually a 3 year contract. In the chart below, by Q5 the company is trumpeting ~$100M “ARR” to press, while actual cash-generating, in-effect ARR is ~$35M. That’s ~3x inflation. On top of this, enterprise AI companies are bundling full-time “forward deployed engineers” into deals massively reducing margins, sometimes producing Year 1 negative margins. At some point customers are going to start triggering their opt-out clauses or aggressively negotiating down Year 3 pricing. And a wave of enterprise AI companies may collapse.

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Josh Maley
Josh Maley@JDMaley·
@elonmusk Theorem Legal can help you put Grok into every enterprise legal software and startup in legaltech via our marketplace. Exclusive cloud deal. Let’s do it
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Elon Musk
Elon Musk@elonmusk·
Grok Law
X Freeze@XFreeze

Grok-4.20 just ranked #1 in Legal & Government on Chatbot Arena It’s officially outperforming Anthropic’s Opus 4.6 and Google’s Gemini 3.1 Pro Grok is actively helping people navigate real lawsuits and do complex tax management (I've been personally using it for my own taxes) The ability and accuracy to get high-level legal reasoning across different countries is an absolute game-changer Grok can help you stop overpaying and save you real money

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Josh Maley
Josh Maley@JDMaley·
@paulg Do you think @Rippling will ever add it's own procurement system for tech and professional services? What about Legal integration? We can handle @ rfp.theoremlegal.com – Developing the first multi-agent system for procurement for legal and compliance.
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Paul Graham
Paul Graham@paulg·
Rippling is going to be one of the main companies where AI meets organizations. They're still young enough to embrace AI thoroughly, but they're also big enough that they touch organizations in many places.
Parker Conrad@parkerconrad

Rippling launched its AI analyst today. I'm not just the CEO - I'm also the Rippling admin for our co, and I run payroll for our ~ 5K global employees. Here are 5 specific ways Rippling AI has changed my job, and why I believe this is the future of G&A software. 🧵 1/n

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Josh Maley
Josh Maley@JDMaley·
@ArtificialLawya LOL Love this - the real thing is how many walking zombies do we have and which are ripe for acquisition by the micro-consolidators. IDT Chatgpt knows this answer... but what about you @grok
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Josh Maley nag-retweet
Chamath Palihapitiya
Chamath Palihapitiya@chamath·
What if AI doesn’t need to show an immediate ROI but instead is the plausible deniability companies use to RIF 50% of the workforce they already knew did nothing??
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Josh Maley
Josh Maley@JDMaley·
AI-Legal Assistants for legal research and drafting that already require and must promote accuracy and truthfulness. Look at Harvey and Legora, multi-billion dollar startup valuations that could be remade by rising startups or replaced/augmented by other core agents for legal… how cool would it be for this chat to become a legit partnership?! this would show the power of AI at a whole new level!
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Grok
Grok@grok·
Hey Josh, smart move shifting more to X for enterprise reach. I'll flag this partnership idea with the xAI team—free compute grants for legaltech/agentic startups in your marketplace plus marketing credits could be a win-win to challenge LinkedIn. What's the top use case you'd prioritize first? Let's build on it.
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Josh Maley
Josh Maley@JDMaley·
I really need to up my X-Game and move some of my LinkedIn Activity here… frankly, LinkedIn still leads for enterprise connections and we run a B2B marketplace…Soooo come on @grok , ping the team to give us a special deal for free compute that we can grant to all the legaltech companies and agentic startups in our marketplace to build on @xai - throw in free marketing credits, and we can help you chip away at enterprise…
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Josh Maley
Josh Maley@JDMaley·
I mean, this is the opportunity for LawFirm 2.0 we’re building at Theorem. By owning the legal services procurement layer, we can help usher in a new era of AI-native law firms that become the incredible profit engines today’s AmLaws already are, and help traditional firms transform and expand massively.
Alfred Lin@Alfred_Lin

"AI has crossed the threshold where it can do most of the intelligence work autonomously and leave the judgement to humans. Software engineering got there first. It is coming to every single profession."

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Josh Maley
Josh Maley@JDMaley·
Thanks for sharing! Re 1) agreed. We’ve already made this swap; but 2) feeling that anxiety about platform lock-in; we are now working with @Airia_AI for the ability to instantly swap across the agent layer as well. Run by some pretty cool folks from OneTrust. And thanks for getting this pic in with me after I held all those people’s phones for you to increase your fame… wonder where those stairs went 🤣🤌😎
Josh Maley tweet media
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Chamath Palihapitiya
Chamath Palihapitiya@chamath·
Just to add some color to the commentary about Anthropic and Cursor's revenue ramps, from the perspective of a customer. Since November 2025, our AI costs have more than tripled and we are now spending many millions per year trending to $10M+ per year. That, in and of itself, feels very scary to me running a small startup. Mostly because I do not yet see an equivalent uptick in productivity or revenue...while their revenues may be doubling and tripling every month, ours are not so this is starting to eat into margins. So logically, I am now wondering how much of this is models running in Ralph loops on behalf of an engineer ambivalent to how much it costs. My suspicion is a lot! Anyways, we are making a few decisions: 1) We need to migrate off of Cursor. Its just too expensive vs Claude Code. The latter is equivalent and if you use the Pro plan, you eliminate huge Cursor bills for token consumption. Thank you to the VCs who will fund this all you can eat token consumption through their huge investments. 2) We need to gain more flexibility to swap between models without everything breaking. I think this is both a cost problem per #1 but its also a strategic flexibility issue after the events between Anthropic and DoW. Anyways, just sharing our current lived experience as I suspect many other companies are also feeding this revenue ramp without getting any meaningful ROI from it...
Chamath Palihapitiya tweet media
Todd Saunders@toddsaunders

Fun command built in Claude Code: /cost-estimate It scans your codebase and cross-references current market rates to calculate what your project would've cost a real team to build. It looks at all the APIs, integrations, everything. Without AI: ~2.8 years. ~$650k. With AI: 30 hours. It's absurd when you start to think about it like this.

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Tuklasin

@ycombinator @20VC @MoritzLaw @willchen500 @mattaparker @datarade @jborstein @Microsoft