Director, Pricing Strategy @bakermckenzie. Bringing #data, #insights, #design, #strategy to #pricing at the x of #legal buy. Founder @sixparsecs. Tweets my own.
A tweet⛈️ in the time of #COVID19... (☁️☁️☁️ but with a chance of #optimism ☀️)
There is a LOT of uncertainty / conflicting information, layered onto a LOT of speculation.
So, a roundup of links + charts (with links to sources) and some #SundayThoughts 🤔
2/n
A lot of 🗨️ asking whether people / biz / gov'ts are OVER or UNDER-reacting to #COVID19.
I think this Q drives
- emotional responses (anger, outrage, fear)
- inflammatory politicization (blame-based narratives)
Which I find unhelpful/distracting, bc this:
3/n
In fluid, rapidly evolving situations w/ incomplete info, vague critiques are just noise.
Better Q:
- WHICH actions are MOST LIKELY to be effective in protecting ourselves and each other, based on best available info re (a) #COVID19 (b) measures being taken in my area?
A #data informed look at how the #human experience of #lawyering has changed over time.
Just as #clients need better #value propositions, #law firms need better business models. Meaningful #legal#transformation will occur where the two intersect.
@christianllang 1/ first assertion: traditional time-and-billing systems largely fail to meet the challenge, bc they are more akin to accounting records than records of legal events. here is a great post on the distinction (billing 💸 event vs legal ⚖️ event) biglawkm.com/2016/03/15/the…
@christianllang 2/ above post also IDs problems w the notion that "the atomic unit" of legal svcs is THE MATTER. sounds good in theory but in reality doesn't work so well. can attest to this personally after reviewing $8m+ pro forma in 12m & recoding/reorganizing time+matters for billing 😩😱🤬
2/ As @ZachAbramowitz thinks there's no fun in agreeing: no, I don't think @nwaisb / @KiraSystems & others have benefited (on net) from the AI hype. I'd say hype hurts us all, bc it trades short term gainz to a few players for long-term pain shared by all.
3/ New entrants can feel the need to build #buzz for brand awareness + brand lift. I wouldn't exactly disagree this may help new offerings generate leads + fill their pipeline. Piggybacking on an existing trend with #hype is a shortcut to buzz, BUT with many pitfalls ⚠️
1/ Tweetstorm a comin' cuz @IvyBGrey really likes it when I "have a conversation with an article." First of all, super 💯 helpful and useful breakdown of varying #innovation approaches, so everyone trying to do all the innovation things, please read the article, like now thanks.
2/ Is "incremental" a dirty word? No. But to most people it #feels less exciting & flashy than "#disruptive." Yes, I said #feels. Bc most ppl probably will not read Ivy's excellent article or this tweetstorm bc they're not on Twitter. To them all this sounds/#feels like jargon.
2/ Next, my favorite #micdrop 🎤 quote: "law firms incentivize their lawyers to act in ways that are counter-productive to lwayers' happiness, clients' satisfaction and the firms' effectiveness." and 💥goes the 🧨-- more #truthbombs follow.
3/ 💯 agree that legacy compensation systems (and the attendant infrastructure of #tech, #process, #policy, governance as well as resulting #culture) emphasizes #lawyer effort over #client outcomes (namely, the billable hour). BUT I add here: what would be a better #alternative?
