Lawtrades

We’re looking forward to today’s panel, where legal leaders will discuss scaling strategies that balance global reach with local impact. Excited to hear insights from this incredible group!

McKinsey predicts AI will automate 30% of jobs by 2030. In a recent 76-page report, they claimed that generative AI could automate up to 30% of jobs, forcing 12 million people to change careers. Generative AI could impact many jobs in STEM, healthcare, construction, and professional fields. While some roles may be automated, others in these industries will continue to grow. What about the legal industry? Last month, I attended a dinner hosted by Lawtrades during the The L Suite (TechGC) IPO Conference in SF, where this very topic was discussed. Here’s the conclusion we came to: 𝐀𝐈 𝐰𝐢𝐥𝐥 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦, 𝐛𝐮𝐭 𝐧𝐨𝐭 𝐫𝐞𝐩𝐥𝐚𝐜𝐞, 𝐭𝐡𝐞 𝐫𝐨𝐥𝐞 𝐨𝐟 𝐥𝐚𝐰𝐲𝐞𝐫𝐬. The misconception that AI could replace lawyers overlooks what lawyers actually do. Legal work is more art than science. It requires judgment and decision-making skills that AI simply doesn't have. So, what role will AI play? AI will augment lawyers. It will enable them to scale and achieve more. To become more efficient. AI is advancing at a scary-fast pace. But the future of law will still need human judgment, empathy, and strategic insight.

Join us on December 12, 2024, for a critical discussion on identifying and addressing implicit bias in tech legal practice. This virtual panel brings together accomplished legal leaders to explore practical strategies for building more equitable workplaces. Featured Speakers: • Aliya Haider - General Counsel, Droit Technologies • Lalitha R. Gunturi - General Counsel & Chief People Officer, Aras Corporation • Marie Ma - Chief Legal Officer, Articulate Through interactive discussion, participants will explore recognizing implicit bias in legal teams and client interactions, understanding its impact on legal outcomes and culture, and implementing concrete interventions in decision-making and policy. This intimate, hour-long session (1:00-2:00 PM EST) will be led by Lalitha Gunturi and includes dedicated time for audience questions and peer discussion. This program qualifies for specialty CLE credit in select states. Reach out for details! Open exclusively to L Suite members. Chatham House Rule applies. Special thanks to our sponsor Lawtrades for making this important conversation possible. Register Now

🥳 Yes, it's been a banner year for Big Law. 📈 The Thomson Reuters Q3 2024 Law Firm Financial Index is out and it shows growth and profit across the board. "The Index score marks seven consecutive quarters of progress for law firms, with this improvement evident across all areas measured by the LFFI [Law Firm Financial Index]," the report details. Both hiring and productivity have bucked decline trends to mark steep growth since the summer, with AI being a notable component to this. Whether or not this moment of growth and expansion is sustainable for Big Law is yet to be seen, but its a nice reprieve from the last few years of doom and gloom. Read the full article in the comments.

How do you grow a network that provides value as you advance your career? In today’s market, networking can feel competitive, but a strong, meaningful network can be a game-changer. Jennifer T. Miller, Coleman (Danielle Coleman), and Sumeet Chugani share essential strategies for building a strong, lasting network.

Legal budgets are evolving in 2025. Is yours ready? With budgets rising and risks evolving, legal teams must balance growth enablement with regulatory readiness. From leveraging AI tools to preparing for increased litigation, 2025 demands a proactive approach. 💡 Here are 5 budgeting priorities to stay ahead: 1️⃣ Match the Business Team’s Firepower: Leverage outside counsel and reduce costs with platforms like Lawtrades for flexibility. 2️⃣ Fortify Your Control Environment: Maintain compliance and avoid legal risks by updating policies. Consider reviewing policies with the help of AI tools like Canarie Ai or an independent third party. 3️⃣ Embrace Legal Tech & AI: AI tools can improve the speed and efficiency of your legal department in areas including contract review, spend management and legal tracking. 4️⃣ Prepare for Litigation: Review insurance and protect your firm in an increasingly complex regulatory environment. 5️⃣ Stay Data-Ready: Set aside budgets for data breaches and use additional safeguards like Cloaked. Read the full article in the comments. What’s your top priority for your legal budget next year? Let’s discuss below! 👇

How do you leverage AI effectively and responsibly in the job searching process? Beyond AI copywriting, there are powerful tools to help streamline resume building and interview prep, making your application stand out. Jennifer T. Miller (GC Grammarly), Danielle Coleman (Product & Risk Counsel Stripe), and Sumeet Chugani (GC, CCO Cloaked) discuss their thoughts on using AI and their personal methods of utilizing AI tools.

Finding a balance between cultivating an environment for remote work while also creating opportunities for in-person culture building can be challenging—how can leaders effectively bridge the gap? Megan and Michael discuss their methods in cultivating culture and cross-team connection within their remote team members.

Most people think lawyers don’t fit in the startup world. They’re wrong. Chris Sacca, Peter Thiel, and Alex Karp — all billionaire founders who went to law school — prove it. Legal skills and startup success go hand-in-hand. And I can tell you firsthand: my legal education has been one of the most valuable assets in building my company. Here are 3 legal skills that helped me build Lawtrades into an 8-figure business: 𝟭/ 𝗜𝘀𝘀𝘂𝗲 𝘀𝗽𝗼𝘁𝘁𝗶𝗻𝗴. In law school, you learn to identify hidden problems in complex fact patterns. Now, I instinctively find friction points in user flows before they break. This means fewer bugs and faster shipping. 𝟮/ 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝘀𝘆𝗻𝘁𝗵𝗲𝘀𝗶𝘀. Reading 1,000’s of pages of case law taught me to see the forest for the trees—spotting the bigger picture without getting lost in the details. In startups, this helps me balance our 10-year vision with the daily decisions that get us there. Every small update connects to the bigger goal. 𝟯/ 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴. Those tough LSAT logic games? They taught me how to think critically and strategically. Whether planning market entry or choosing partnerships, I rely on this skill to make strategic, calculated decisions. Legal training gives you a clear method for solving problems. Something incredibly valuable in the startup world. It’s not just about knowing the law. It’s having a framework for dissecting complex problems. So if you’re a lawyer thinking about the startup world—your background isn’t a hurdle. It’s your superpower. Are you a lawyer in the startup world? Drop a comment—I’d love to hear how your skills help you thrive.

Last week, a judge in Washington ruled that Meta must face trial over an FTC lawsuit charging the social media behemoth with attempting to crush emerging competition by acquiring WhatsApp and Instagram. For its part, Meta remains “confident that the evidence at trial will show that the acquisitions of Instagram and WhatsApp have been good for competition and consumers,” says a statement by the tech titan. But the FTC sees its case as representing "a bipartisan effort to curtail Meta’s monopoly power and restore competition to ensure freedom and innovation in the social media ecosystem,” commission spokesperson Doug Farrar said, notes Law.com.