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☆ Here's why people shouldn't freak out yet about losing their jobs to AI automation
▼ + stars: | 2023-04-10 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

As AI tools revolutionize business, workers are worried they're at risk of losing their jobs. "We've been deploying automation technology for centuries, and as of 2023, pretty much every human who wants a job has a job," Smith wrote. Yet Noah Smith, the writer behind the popular Noahpinion economics newsletter, contended in a post on Monday that people shouldn't worry about losing their jobs to automation just yet. In his post, Smith examined several studies on job automation over the years from researchers at firms ranging from Citibank to PriceWaterHouseCoopers. Assessing "replacement" is often subjectiveSmith also pointed the subjectivity used in older studies for assessing a job's risk of replacement.

☆ Big Law firm draws ire for leaked list of 'non-negotiable expectations' for associates — including being online 24/7 'no exceptions, no excuses'
▼ + stars: | 2023-04-08 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

A leaked list of "non-negotiable expectations" at law firm Paul Hastings is sparking debate online. While some say the demands are "horrible" others say they represent realistic expectations within the industry. The firm told Insider "the material was prepared by an associate," but noted "the views expressed do not reflect the views of the firm or its partners." Lee Edwards, general partner at Root Ventures, an investment firm focused on tech, wrote in a tweet on Friday that he found the expectations "horrible." "Good and helpful description of working in any top-tier profession services firm at any point in the last 30 (50?)

☆ Is Jamie Dimon the most powerful person in finance?
▼ + stars: | 2023-03-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Insider's Carter Johnson has a story on one executive whose profile continues to rise: Jamie Dimon. Carter's story got me thinking: Who's the most powerful person in finance? Warren Buffett: Before you jump down my throat, realize this is a list of the most powerful people in finance not on Wall Street. Place your vote here — or name someone else — for who you think is the most powerful person in finance. The bank was hit with a nearly $100 million fine for letting a foreign bank make prohibited transactions, The Wall Street Journal reports.

☆ Inside a shake-up at the world's 'most feared law firm'
▼ + stars: | 2023-03-30 | by ( Casey Sullivan | ) www.businessinsider.com time to read: +30 min

It's been a tumultuous period for Quinn and the storied law firm he built over the past 37 years — now the world's largest litigation firm with hourly rates that can be north of $2,000. But behind the scenes, a shift at QE has been the talk of elite law firm circles. Indeed, the firm – known as a singular, even freewheeling, institution that brands itself as the "#1 Most Feared Law Firm in the World" — may appear to be less in the image of its founder as a generational shift brings changes. "We all thought it was important that the world understands this is not a one generation law firm." One former firm partner in California says he believes Quinn's inner circle generally got better deals.

"Meta's discovery gluttony confirms its request of eBay is not worthy of the burden Meta seeks to impose," eBay's lawyers told the California court. EBay's Quinn Emanuel attorneys derided Meta as a "litigant that has completely disregarded the bounds of reason and proportionality" in seeking information from third parties. A representative from eBay and its attorneys at Quinn Emanuel did not immediately respond to requests for comment. Lawyers for eBay contend the company doesn't compete with Meta on social networking but does face off over the Facebook Marketplace e-commerce service. The case is Federal Trade Commission v. Meta Platforms Inc, U.S. District Court, Northern District of California, No.

☆ Exclusive: Trump lawyer hires own attorney in classified documents probe
▼ + stars: | 2023-02-17 | by ( Andrew Goudsward | ) www.reuters.com time to read: +2 min

Levy was hired by Corcoran's law firm, Silverman Thompson Slutkin & White, to represent Corcoran in the probe, according to one of the people. Levy, a principal at the Washington law firm Ellerman Enzinna Levy, declined to comment. Corcoran has appeared before a grand jury in connection with U.S. Special Counsel Jack Smith's investigation into classified documents taken to Mar-a-Lago following Trump's term in office and possible attempts to obstruct that probe. Another Trump lawyer, Christina Bobb, signed a certification that all classified documents had been returned before the FBI found about 100 additional classified documents during an August 2022 search, according to prosecutors. Trump has denied wrongdoing and claimed, without offering evidence, that all documents at his residence had been declassified.

☆ Microsoft plans to start using AI tech to write emails for salespeople, and it's not hard to see why
▼ + stars: | 2023-02-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +8 min

Microsoft plans to use artificial intelligence from ChatGPT maker OpenAI to write emails for people. This new tech is to be deployed in Viva Sales, Microsoft's sales app launched in October, that manages customer information and uses AI to scan calls and emails with clients. My company needs 20,000 reams next month, and we have a budget of $100,000. ChatGPT responded like so:Dear Jerry, Thank you for your interest in ordering paper from Dumble Muffin. Best regards, Mike WazowskiSales Representative, Dumble MuffinWe had "Jerry" respond by adding a few more details and a request for a suggestion.

☆ Layoffs at Google, Microsoft, Salesforce Teaching Tech Employees a Harsh Lesson
▼ + stars: | 2023-01-29 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +14 min

Tech workers are using all sorts of emotional phrases to describe the layoff wave that has gripped the industry and become the talk of the business world. "I'm shocked and hurt and still processing," Katie Olaskiewicz, a former human-truths strategist at Google, wrote on LinkedIn last week shortly after 12,000 Google employees were let go. Over the past two weeks, a total of 40,000 employees have been laid off from Amazon, Microsoft, and Google, a nightmare come true for tech workers. The tech layoffs have been starkly different from Wall Street, which has in recent months instituted its own rounds of job cuts. Wall Street realitiesIn many ways, tech workers are waking up to a reality that their peers in other high-flying industries have always known.

☆ Justice Jackson working on a memoir, titled ‘Lovely One’
▼ + stars: | 2023-01-05 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Supreme Court Justice Ketanji Brown Jackson is working on a memoir. Jackson, the first Black woman appointed to the court, is calling the book “Lovely One.”“Mine has been an unlikely journey,” Jackson said in a statement released Thursday by Random House. This memoir marries the public record of my life with what is less known. Jackson joined the court last year after President Joe Biden named her to succeed the retiring Stephen Breyer. Justice Amy Coney Barrett has a deal with the Penguin Random House imprint Sentinel.

☆ 'Sextortion' attacks on the rich and famous are on the rise. Here's how their lawyers discreetly fight back.
▼ + stars: | 2022-12-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +15 min

Celebrities, sports stars, CEOs have never been more at risk of 'sextortion' attacks, lawyers say. "I'm going to blow up you and your business," the screen read. "If you can't get me money," she texted the terrified CEO, according to records reviewed by Insider, "I'm going to fuck up your whole company." East Coast, West CoastHigh-end sextortions like the case of that Manhattan CEO, one of Saland and Weisberg's recent clients, are spawning a growing legal practice. It's different in ManhattanIn contrast, Manhattan sextortion clients tend to hail not from the A-list, but from the city's vast pool of the anonymously wealthy.

☆ How Big Law fumbled its own Rooney rule on diversity
▼ + stars: | 2022-12-08 | by ( Elizabeth Olson | ) www.businessinsider.com time to read: +11 min

Several law firms adopted the Mansfield rule in 2017, which aims to increase diversity in leadership. It's effectively the NFL's two-decade-old Rooney rule: a requirement that nonwhite candidates be considered when teams hire for coaching and front-office jobs. Law firms followed professional football in 2017 with its version of the Rooney rule, called the Mansfield rule. At first, the Rooney rule seemed to catch on when teams started to hire more coaches of color and a dozen general managers of color when that position was added to the Rooney rule. "For the Rooney rule to work," he said, "there has to be a true commitment from the owners.

SummarySummary CompaniesCompanies Related documents The moves could prompt other law schools to follow suitU.S. News' law school rankings loom large in the legal industry(Reuters) - Yale Law School and Harvard Law School both said Wednesday they will no longer participate in U.S. News & World Report’s annual ranking of law schools, marking the biggest shakeup to the closely watched list in years. 1 spot every year since U.S. News began ranking law schools in 1990, was first to announce the decision. U.S. News’ law school rankings loom large in the legal industry, which highly values prestige. Yale and Harvard will not disappear from the law school rankings, however. (NOTE: This story has been update to include Harvard Law School's decision to not participate in the U.S. News rankings.)

SummarySummary CompaniesCompanies Law firms Frost Brown Todd and AlvaradoSmith to merge effective Jan. 1Combined firm will have more than 575 lawyers in 17 offices(Reuters) - Frost Brown Todd is set to combine with California law firm AlvaradoSmith as the Cincinnati-founded firm continues to branch out to new regions. The combination will give Frost Brown Todd 23 additional attorneys and three California offices in Los Angeles, Orange County and San Francisco. Frost Brown Todd, founded in 1919 as Frost & Jacobs before merging in 2000 with Louisville-founded Brown, Todd and Heyburn in 2000, has roots in the middle of America, with offices in Ohio, Kentucky, Indiana and other states. The AlvaradoSmith attorneys are joining the larger firm under the name Frost Brown Todd AlvaradoSmith in California through 2023, before reverting to the Frost Brown Todd name the next year. Law firm mergers dropped as the COVID-19 pandemic took hold in 2020, and activity stayed at lower levels throughout 2021.

Take big law firms and Twitter. “Lawyers and law firms must struggle to stay visible, posting regularly, getting followers, and tweeting regularly. Consider, for example, Quinn Emanuel Urquhart & Sullivan, which has 1,587 Twitter followers – among the fewest of Am Law 100 firms. “To date, the firm’s social media efforts have focused on platforms that are most aligned with recruiting — LinkedIn and Instagram,” the spokesman said via email. Will law firms pony up $8 a month for the blue check now?

☆ Binance's bid for FTX marks one of the wildest days in crypto history
▼ + stars: | 2022-11-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Sam Bankman-Fried, founder of crypto exchange FTX. In a stunning reversal of fortune for an industry built on reversals of fortune, Bankman-Fried, more commonly known as SBF, announced that FTX, the crypto exchange he founded, would be acquired by rival exchange Binance. From a deals perspective, a few things worth noting:There wasn't a banker in sight for what could arguably be one of the most important transactions in the history of the crypto industry. for what could arguably be one of the most important transactions in the history of the crypto industry. Here's everything to know about the lead up to one of the wildest deals in crypto history.

☆ Law firms that make billions fighting injuries and frauds are very hush-hush about what they pay. Here are the starting salaries at 19 firms from Altshuler to Wigdor.
▼ + stars: | 2022-11-08 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Many plaintiffs' firms pay somewhere in between. Despite more law firms increasingly paying their top earners like professional athletes, many law school grads only make between $50,000 and $80,000 a year. Things do appear to be changing as more plaintiffs firms seek to compete with Big Law firm talent. But firms like Edelson that pay as much as Big Law firms are the exception. For more information on how these law firms pay, see our table below:Do you have more information on how plaintiffs' firms pay their lawyers?

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☆ As Big Law looks to tech to help draft legal briefs and log billing hours, top firms like Orrick and Shearman & Sterling are using AI to fast-track work on M&A deals
▼ + stars: | 2022-10-20 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +6 min

Top Big Law firms like Shearman & Sterling, White & Case, and Orrick use artificial intelligence. AI tools by companies like Thomson Reuters, Litera, and Evisort are helping firms manage M&A work. Shearman & Sterling uses a wide variety of AI tools for different uses — one of the firm's go-tos for deals due diligence is Kira, a tool owned by Litera, a document-technology company that works with law firms. Even more said that over the next five years, they expected most M&A work at their firms to be supported by AI. The company uses tools such as Brainspace and Relativity, Janet Sullivan, the firm's global director of practice technology, said.

☆ Asian and Native American female lawyers get the least amount of big law business, study finds
▼ + stars: | 2022-10-07 | by ( Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

“Native American women and Asian American women are the poorest in terms of this.”Nearly 72% of corporations surveyed said they give less than 10% of their business to Asian American lawyers, the study found. Less than a quarter said they gave no business at all to Asian American lawyers. Native American lawyers see a similar lack of representation. “[Asian] men are doing a little bit better than [Asian] women. But the difference between what Asian American women or Native American women are getting was so striking because they’re getting so little.”And though many corporations collect their diversity data, few actually put it to use, the study found.

Alums include 6 judges, Big Law partners, top law school professors, Hunter Biden, and a priest. Yale Law School is one of the most prestigious law schools in the world, and arguably one of the most powerful. Graduates of Yale Law are known for going into public service and academia, but alumni have also landed top positions at elite law firms and Fortune 500 companies. But Yale Law still carries cachet in the legal community, and many top law firms, schools, judges, and agencies hire its alumni. Here's a look at the careers of some notable alumni of the Yale Law Class of 1996, more than a quarter of a century years after their graduation.

☆ I quit a $200,000 Silicon Valley law job because it wasn't worth the toll on my mental health. Here's why I have no regrets.
▼ + stars: | 2022-10-06 | by ( Nada Shalash | ) www.businessinsider.com time to read: +6 min

Julian Sarafian, a young graduate of UC Berkley and Harvard Law School, was an ideal law candidate. He said he'd ignored symptoms of worsening mental health during his studies and focused on success. After three years at a Silicon Valley law firm, Sarafian quit and became a mental health advocate. I was a high-school valedictorian, received my undergraduate degree from UC Berkeley in just three years, and graduated from Harvard Law School at 24. I decided to start my law firm — For Creators, By Creators PC — in May 2022 and represent content creators and influencers.

☆ Get ready for 'stealth layoffs' at Big Law firms as the economy slows
▼ + stars: | 2022-09-29 | by ( Jack Newsham | Peter Coutu | ) www.businessinsider.com time to read: +7 min

But at Big Law firms, "managing out" is common, with lawyers quietly directed to look for work elsewhere. O's story stands to become more common as the economy cools and Big Law firms seek to quietly cut costs without technically laying people off. Here's how Big Law firms let people go. Most Big Law firms operate under an "up or out" system, where lawyers are either expected to make partner or leave. Big Law lets more people go and slows down hiring in tough economic timesOne point of agreement is that stealth layoffs rise in economic downturns.

☆ $100 million is the new frontier for South Florida luxury homes, says agent Dina Goldentayer, who sold $750 million in real estate last year via chauffeured car, helicopter, and golf cart
▼ + stars: | 2022-09-27 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +4 min

Griffin's $100 million buy is more than double the 2019 record for Miami's priciest single-family home. A Golden Beach compound is on the market for $100 million — and is being marketed as a gut job. "Now $100 million seems to be the threshold that captures the public's imagination. While Miami's ultraluxury market thrives, its less-pricey sectors are beginning to normalize, Miller said. Douglas Elliman's South Florida market reports, which Miller compiles, point to a slowdown in new signed contracts, but that's in comparison with the supercharged market of 2021.

☆ First, Smear All the Lawyers
▼ + stars: | 2022-09-22 | by ( Kevyn Orr | ) www.wsj.com time to read: +1 min

Other than that, his portrait of Jones Day and the legal profession bears little resemblance to reality. According to that tradition, truth and justice are secured through a vigorously contested adversarial system, in which all litigants have lawyers who represent them. As many Jones Day lawyers told him, the firm represents clients, not causes; it has no political agenda. Jones Day lawyers span the political spectrum, supporting Democratic and Republican candidates alike. It defends clients from lawsuits, investigations and prosecutions, and sometimes represents clients who run for public office.

☆ Ex-Cravath lawyer Andy Klein wants to raise $5 million for his new startup. Here's his pitch to get the Big Law lawyers who use his company's tech to also invest.
▼ + stars: | 2022-09-21 | by ( Jack Newsham | ) www.businessinsider.com time to read: +5 min

His company Reynen Court is now looking to raise $5 million using a provision of the JOBS Act. More recently, Klein, who lives in Amsterdam, has been growing Reynen Court. The company launched in 2018 with financial backing from a consortium of large law firms, including Latham & Watkins and Clifford Chance. Klein said Reynen Court really took off once he was able to persuade 20 of the world's largest law firms to begin using the platform. If the offering succeeds, Reynen Court expects to go forward with a series B fundraising next year, Klein said.

☆ A step-by-step guide to securing a Big Law summer associate position, from networking best practices to acing the interview
▼ + stars: | 2022-09-14 | by ( Business Insider | ) www.businessinsider.com time to read: +3 min

Working at a law firm after a student's second year, or 2L, has long been a rite of passage for students bound for Big Law. And some students are finding themselves ill-equipped to navigate what one law partner has dubbed "the Wild West" of Big Law recruiting. The former pro soccer player recently walked Insider through his sometimes harrowing journey to snagging multiple Big Law offers before on-campus interviewing, or OCI, even began. The perks including increasingly big paychecks, especially for what are known as "rainmakers," or law partners who bring in big business. This Big Law firm is so hungry for associates that it's giving $75,000 referral bonusesBig Law has a mental health problem.

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