PSA TO LAWYERS: Big law is no longer the safe choice. Whether we like it or not, the practice of law is changing.
In law school, big law is presented as a prestigious high salary option that leads to partner or a cushy in-house role. AI is changing that.
You can choose to accept that and prepare yourself for a new world or get left behind.
You should think about what you want your future career to look like and the numerous new options now available. The upside is ENORMOUS. Now is the time to take risks.
It's a matter of time before Harvey/Legora start providing legal services directly and use their tech to take on their current client base.
Tech companies and law firms are converging. Law firms are seeing the writing on the wall. Kirkland is developing their own technology. Other law firms are switching to Claude Enterprise to avoid giving Harvey/Legora proprietary knowledge of their workflows.
The valuations of Harvey/Legora (11b/5.6b) are surpassing the total addressable market for legal software. The tech world is excited about the services market for a reason.
The legal services market is enormous (3trillion) and AI is allowing for it to be disrupted in a meaningful way for the first time. K&E's move here should be a signal to all lawyers about what is going to happen to big law in the future.
We close priced rounds in 3-4 days for 10k total. Investors have to cooperate and not do extensive diligence/heavy markups (which doesn't make sense for seed/series a startups anyway). We are in a closed beta now - reach out if you want to be added to our list.
@RickHoffman_ (Louis) - I am sure you've seen the news about Harvey joining Harvey for an undisclosed sum (probably a lot). Jude Law also appeared in competitor firm's Legora's ad today.
You're probably feeling frustrated and left out of the legal tech hot people spokesperson trend.
We're also frustrated. People are frequently asking how we're different than Harvey. WE'RE VERY DIFFERENT.
We ARE the law firm. We don't sell to law firms. We engage clients directly, have AI take the first pass, a lawyer (all of whom have worked in big law 4+ years!) review the work, and then get back to the client.
Consider this our formal request to have you join
@SoxtonAI as our official legal tech hot person spokesperson to help us explain the difference solving both our problems.
Thank you for your attention to this matter,
Logan
(a fellow Harvard Law alumni who liked to order square pizza late at night from Nocs)
She had her parents drive her to the district attorney’s office with a cover letter and resume; her qualifications included fundraising for her middle school, alongside student government and yearbook club. https://t.co/2f7oTz65aF
🙌 Congrats to the @SoxtonAI team on their first acquisition. Bringing together legal AI and agentic security is an important move as accuracy, governance, and trust become core to AI systems.
Excited to announce that @SoxtonAI has acquired Cipher Technologies! We know that founders are trusting us with important and sensitive information. We're committed to using all available technology to keep our platform safe and get your startup legal questions answered as quickly as possible.
I first met the founder, Ransford Antwi, in December and was so impressed with the security layer for ML agents his team had built.
Cipher's technology has also allowed us to supercharge our internal growth. We've gotten much faster at fine-tuning specific work flows so we're able to get founder's back their contracts/advice faster than ever.
It's incredible to work with Ransford. He's brilliant, fun and hard working. He also brings a founder mindset and lived experience of the pain point we're solving (expensive legal). He moves quickly and is pragmatic about solving problems.
It was also fun to manage the acquisition on our own platform. We were able to use our tooling to update and execute the bespoke acquisition documents saving us thousands.
Link below! Thank you Ella Sherman for covering! We're always hiring (love founders) and are also happy to help you get your business off the ground.
We have so many prediction market related companies using Soxton. Some of the trends we’ve seen:
- lots of “Bloomberg” for prediction market companies. We’ve seen companies started for both consumer and professional investment companies
- niche prediction markets that are more expansive
-invite only prediction markets
I’m excited by the future of legal. I think we still need lawyers, the job will just be different (and better for consumers)
I think corporate lawyers will be replaced by a smaller number of specialized lawyers who leverage ai. I think we’ll need more lawyers to keep up new tech/law and provide advisory services.
AI is allowing more people than ever to file law suits. I think courts will be jampacked and slow to respond. We’ll need more litigators.
We’ll also still need government attorneys. Law school isn’t inherently a bad choice. I think future legal jobs are far more interesting than ever before!
That's us! We're starting off with legal for startups. We're $100 a month for contracts from scratch, finalizing Claude contracts, or amending existing/customer deals. We also do $50 a conversation. Experienced big law attorneys in the loop everytime!
Lol this isn't true and telling people this is irresponsible.
Clause is really great at providing a broad overview of concepts and appearing correct but not great at drafting documents from scratch or making sure all legal protections are there
Sometimes situations need different contracts than originally presented or needs multiple contracts.
We see ai generated contracts that appear to be well drafted but are missing key provisions. Claude also doesn't know to ask that follow-up questions that can have deal altering implications.
The number of people trying to use Soxton (ai law firm for founders) while they are in a crisis legal situation of any variety is concerning.
I hope the major llms are spending the same amount of time/concern about how to address this as us. We don't want to provide inaccurate advice or lead to any confusion on our abilities/scope.
Folks are emailing/making requests in extreme distress wanting action taken by advice they've received on the internet. This is an area regulators should pay attention to and put up guardrails to protect the general public.
Attended an extended family event in North Carolina this weekend. No one else there works in tech (refreshing). The universal response to any AI related topic was "AI scares me"
AI is exciting for VCs and founders. To others, it's scary because the mainstream media narrative is that most jobs are going away and the world is going to change super fast.
This is so sad to me! I firmly believe that humans will continue to play an important role in the way we work. We just need to work together to get there :)
I am also so excited about how AI can be used to make the world a better place! The list of good things AI is doing is so long (dog cancer treatment, access to quality legal, lower barriers to entrepreneurship, better disease prevention/detection etc).
There has been a lot of chatter (and panic) recently about AI entirely replacing lawyers and other white collar jobs in the near future.
Many of the folks leading the "no more white collar workers" discourse are leaders at large companies creating the models. It's their job to justify high valuations and paint a future where their technology is used as widely as possible.
I think the future is more nuanced and that humans will continue to be an essential part of how we work.
The legal industry will look entirely different in 5 years. Those that have practiced or consumed legal services know that the industry is ripe with inefficiencies (ie the existence of the billable hour). It should be disrupted and rethought.
AI is forcing startups (and incumbents) to think from first principles and create a better product at a lower price point. Allowing more people to access legal services increases the size of the market.
New technologies also creates new fields of law. I think the legal market will be bigger than ever before. There is a reason why legal tech is so hot.
Human lawyers remain the heart of this industry. I think it will stay that way. Models continue to be wrong, customers want human judgement, and the creation of new fields of law requires oversight.
Studies regularly find that chatbots will hallucinate 50% of the time in response to legal queries. We see it everyday at Soxton. Our customers also crave human insight, that isn't going away. The law is complex, nuanced, and critical. The chance it overlooks something is not a risk worth taking.
Its our job to find the best use cases for AI, use it to remove inefficiencies, and keep a lawyer-in-the-loop when it matters.
That's us! @SoxtonAI is an AI-first law firm for startups. We incorporate, help with equity, commercial contracts and more. $20 a month. $100 per contract. DM for early access.