Sign up for Practi, a new platform that helps law firms use subscription billing.
Here are the top 5 takeaways from this episode:
Not using AI may soon be malpractice. Marc raised this argument as early as May 2023 in CLEs for the Beverly Hills Bar Association that lawyers who fail to leverage AI tools may be falling below the professional standard of competence required under ethics rules.
Hourly billing is bad for clients and bad for lawyers. Marc argues it creates a direct disincentive to efficiency, discourages proactive communication, and undermines the “team” dynamic between lawyer and client. Flat-rate/subscription billing aligns incentives and lets lawyers actually practice law rather than manage time entries.
AI has commoditized contract drafting, so what clients now pay for is availability and judgment. The skill of writing or redlining contracts has been democratized by AI. The real value a lawyer provides today is being a trusted, always-available team member who brings experienced final-eyes review and sound judgment. Not raw document production.
Jevons Paradox applies to AI productivity. AI makes tasks faster, so we simply take on more tasks. Time savings don’t actually reduce workload. Marc stresses the need for discipline to avoid “catastrophic analysis paralysis” from iterating endlessly with AI tools.
AI nationalization/restriction is a serious near-term risk. Marc’s biggest concern isn’t the long-term future (which he sees as positive) but the transition period. He worries AI could be nationalized or heavily restricted by governments, similar to how nuclear technology was controlled, before society fully adapts.
__________________________
Want your question to be answered on a future show? Fill out this short survey.
Have subscription model question? Check out this free resource to ask all of your questions at notebook.practi.ai.
Check out Hoag Law.ai.
Sign up for Paxton, my all-in-one AI legal assistant, helping me with legal research, analysis, drafting, and enhancing existing legal work product.
Get Connected with SixFifty, a business and employment legal document automation tool.
Sign up for Gavel, an automation platform for law firms.
Visit Law Subscribed to subscribe to the weekly newsletter to listen from your web browser.
Prefer monthly updates? Sign up for the Law Subscribed Monthly Digest on LinkedIn.
Check out Mathew Kerbis’ law firm Subscription Attorney LLC.
Want to use the subscription model for your law firm? Click here to sign up for a new platform that helps law firms use subscription billing.
