#UnpopularOpinion I don't like seeing "retired" judges enter the private sector. I think a judicial appointment should be the last stop on a legal career train, not a way station. law.com/legaltechnews/… 1/5
When you become a judge, you take on the gravitas and authority of the role, and it stays with you even after you step down. So if you want to stop being a judge, great; but the gravitas is permanent and it should be deployed carefully and primarily for the public good.
I'm fine with ex-judges leading commissions of inquiry or law reform efforts or other public-service roles; that's consistent with the mantle they assumed. But I don't like seeing them working for law firms or legal funding startups. The word I keep coming back to is "unseemly."
I get that more lawyers (especially women) are appointed to the bench earlier than before; you could serve 20+ years on the bench and still be in your early 60s with much to contribute. But if you miss the income you could have earned as a lawyer, well, that was part of the deal.
I don't want to overstate the issue; of course we have bigger worries. I'm just concerned that a wave of former judges joining the legal market, bringing in clients and burnishing brands, risks diluting the gravitas of judges still serving and the courts they serve. /Fin
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This fascinating piece by @aebra_coe about compensation systems at large US firms gives real insight into the new and unpleasant dynamics at these massive businesses. Above all, it says the idea of BigLaw "partnership" is dying. 1/8law360.com/pulse/modern-l…
For starters, paying a lawyer $20M to join your firm is certifiably nuts. It'll be years before the lateral generates enough profit to cover their acquisition costs, and they could be gone by then. The best indicator of a partner leaving a firm is that they've done it before. 2/
Ditto the "two-tier partnership system." Here's a fact: If your partnership has two tiers, it's not a partnership. It's a corporate hierarchy with a thin layer of elites on top and a mass of "partners" below who have the title but neither equity nor status nor real power. 3/
This report expresses the immediate threat Generative AI poses to law firms -- the dismantling of time-based pricing -- while also recognizing the dilemma it poses: How can lawyers persuade clients to pay for value after a century of charging for time? legalfutures.co.uk/latest-news/ai…
I've argued (particularly here: ) that the billable hour is so entrenched because it's a rough proxy for the "value" of a legal service that neither the client nor the lawyer can defensibly define. What happens if you take away that proxy?law21.ca/2017/06/rise-m…
This is a serious and immediate problem. Law firm leaders to whom I've explained the implications of Gen AI for pricing have said, "Okay, so how do we charge for our work, then?" And I don't have answer for them. As far as I can tell, nobody does. Yet.
During and after the Great Financial Crisis, when a handful of big US law firms collapsed (law.com/americanlawyer…), some smart folks (Bruce MacEwen, Edwin Reeser pointed out something about law firms: They are, fundamentally, constructs of confidence. 1/
Many law firms are held together by little more than their lawyers' collective confidence in the stability and desirability of the firm as a platform. If you believe the firm is a good place to be and other partners believe the same, then the firm is stable and life goes on. 2/
But say a practice group defects to another firm. And a huge litigation file settles unexpectedly. And a power rainmaker dies. A few partners get cold feet, call a headhunter, and leave. Maybe a few more follow. And "gradually and then suddenly," there's a run for the exits. 3/
"The legal profession, in addition to losing lawyers at alarming rates due to burnout, stress, anxiety and depression, is at risk for losing lawyers due to suicide."
7% of surveyed lawyers experienced suicide ideation in the *weeks* before the survey. law360.com/pulse/modern-l…
"77% of lawyers reported burnout from their work, with almost half saying they thought about leaving their job. 40% contemplated leaving the profession entirely in the last three years due to stress ... 86% of Black lawyers and 88% of Hispanic or Latino lawyers reported burnout."
Similarly horrifying results in a recent survey here in Canada, e.g., about 1/4 of surveyed lawyers had thought about killing themselves at one point during their careers. flsc.ca/wp-content/upl….
We are in serious trouble as a profession. What's going to break the cycle?
Business travel was so massive for so long mostly because business culture simply wouldn't accept video as appropriate for meetings. The pandemic forced the culture to change, virtually overnight. 1/ law360.com/pulse/modern-l…
Business travel will be maximum 80% of what it used to be, likely less. Think about the cumulative $$ and carbon saved, across every country and industry. That's not a "benefit" of the pandemic; that's an indictment of lazy, rigid business cultures. And law is worse than most. 2/
The article notes that "litigation travel" is rising again, because courts are going back to in-person hearings. And that's because judicial culture is even lazier and more rigid than business or legal culture. Think about all the money and carbon costs that's going to incur. 3/
Michael Lewis's "Moneyball" had wide influence well beyond baseball, including in the legal sector. (I wrote a column about Moneyball and the law back in 2011.) So this deep dive into the long-term influence of the book within baseball is interesting: 1/ thescore.com/mlb/news/23854…
A lot of people drew the wrong lessons from Moneyball, though, including innovators in the legal sector. (I speak from experience.) So I thought I'd briefly mention three conclusions that I think do stand up nearly 20 years after the book came out. 2/
1. Use data smartly. Don't plan and execute strategies based solely on anecdotes and gut feelings. Your organization produces reams of data, whether you collect it or not. Find it, analyze it, understand what it's trying to tell you, and use it. 3/