This time is different
Why generative AI will reduce the need for large armies of junior associates
This week I’m going to elaborate on some of the posts I’ve been sharing on LinkedIn and Twitter about how AI will impact Biglaw, based on off the record conversations with a variety of players within the legal ecosystem. My goal is to share details behind my thinking, and address counterarguments that popped up in response to my posts.
Let’s get into it.
Biglaw: An incredible distribution channel
I’m not sure everyone appreciates how much distribution power large law firms have. There’s a reason why senior associates who are good enough to run an entire matter can’t just quit and earn the same amount of money as a partner at their old firm. It’s not just about how competent you are. It’s also about whether clients trust you enough to handle their matter.
That trust comes from the firm’s brand. Which is made up of a collection of individual, personal brands & relationships of the attorneys at the firm. Clients “don’t hire the firm, they hire the lawyer” but if you have a collection of these talented lawyers, the trust starts to rub off on the firm’s overall brand over time. Each of today’s most successful firms started off as a tiny group of superstar lawyers. Eventually the positive traits associated with these lawyers rubbed off on the entire firm.1