The Brief No. 27: Of Moguls & Mocking the Hustle
February 20, 2019
As the world becomes more digitally connected, the lines of privacy have blurred. Facebook, Google, and countless other technology behemoths repeatedly infringe on users’ rights and seem to reap no significant consequences. That’s why on this week’s blog, Shrewd Mobile Communication for Lawyers, we’re providing some tips for navigating the ever-compromised waters of digital correspondence. Find out how you can keep your sensitive information safe, even under the watchful eye of big brother.
You Can Mock the Hustle: As if the lap dances and illegal kickbacks used to incentivize doctors to push Opioids weren’t uncouth enough, the Insys Pharmaceutical Bribery Trial has revealed yet another cringe-worthy detail: an Insys music video where the company’s Sales VP and reps attempt to rap (and dance) about living large on the sales of Subsys—a nasal fentanyl spray. While it had the feeling of a parody meant to mock the industry, it was apparently made in earnest to pump up sales representatives at a 2015 sales conference. With all eyes on yet another way that pharmaceutical-executive-Kapoor is no diddy, a lesser known opioid lawsuit proceeds in Oklahoma; one which may prove to have more profound consequences on the mounting litigation in the opioid epidemic gripping the nation.
Alternative Exits: In the last few years, firms have been losing clients for not adopting alternative fee arrangements and technology, and naturally the lawyers are following. A group of tech lawyers and their book of business departed Fox Rothschild for K&L Gates recently citing the ability to be more aggressive and creative in offering alternative fee options to clients and increased adoption of technology solutions that supported these efforts as a primary reason for taking the leap. Meanwhile, the avoidance of technology and alternative fee arrangements by midmarket AMLaw 200 firms has been an opportunity for the competition outside of the AMLaw 200 to climb their way towards this coveted revenue ranking.
The Paper(less) Chase? The Legal industry evolution is occurring with such momentum that it could lead to revamping the law school structure completely—from curriculum to class structure and use of external resources. U.S. News & World Report has also proposed an additional ranking system to more fully assess the impact of a school’s faculty as activists call for a change to the Bar exam. For law firms, rapid industry change means implementing technology education to bring current employees up to speed.
Surfing on Eggshells: As the legal industry cautiously wanders into the frontier of social media, it struggles to navigate this unprecedented terrain. Platforms like Twitter offer the opportunity for farther-reaching discourse at greater convenience. While some lawyers have used Twitter to establish productive dialogue, others find a megaphone for troubling assessments. Still, a lack of social media savvy can be a pitfall to those not directly engaged—as one Toronto lawyer found out last month. With more lawyer gaffes and triumphs inevitable, social media standards may be necessary for an industry where social media presence is increasingly unavoidable.
With this week’s news of mogul fails and the dizzying speed of change in the legal industry, we’re sharing some cross-industry inspiration on resilience and adapting. At Hire an Esquire we became quickly addicted to this story of Chris Lighty. Chris Lighty came from nothing and over the course of his life and career brought a major music company back from the brink of bankruptcy, built his own empire, and created a new business and revenue model for his industry. Regge Ossé does a masterful job at telling the story of the triumphs, demons, and pitfalls of a complex and brilliant mogul and his industry.
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