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As A.I. makes law firms more efficient, clients ask: 'Where's my discount?'

150 points · 162 comments · mooreds

  1. mikert89 · · focus · HN ↗
    Spoke with a banker at a well known investment bank in NYC last week. They told the law firm they want the fees cut in half or they walk. This is to a top 5 law firm. Lawyers are trying to charge the same prices, when both sides know they are working half the hours. This is even at the most premium top end, where an engagement bill can run up to 30 million.
    1. cupofnotjoe · · focus · HN ↗
      Even if you had evidence to substantiate this, a well known investment bank was never utilizing a top 5 law firm because of the rates it charged.
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