BRINGING YOU THE LATEST IN LEGALTECH NEWS
TLTF & Friends in the News
🎉 We’re thrilled to announce our recent investments in OpenLaw, Infodash, and Skribe! We are excited to partner together and continue our commitment towards empowering companies transforming the world of law!
🌴 Can’t stop thinking about this year’s TLTF Summit? Same. See the Startup Showcase and Scale Stage participants in the 2024 Lookbook and keep checking back as we add more!
News from the World of Law
VC funding for legaltech rose in the first half of 2024, a >75% YoY increase (!!), with 118 deals and increased M&A activity, driven by GenAI. We love to see several of our portfolio companies featured, including Steno, Proof, and Spellbook!
Everlaw’s 2024 report shows that 34% of legal professionals adopted generative AI in two years, five times faster than the cloud.
ILTA’s 2024 survey shows that 37% of firms use generative AI, a 22% increase from last year’s benchmark.
California's SB 1047 AI safety bill, mandating safety tests and developer liability, divides Silicon Valley on innovation versus safety.
A survey by Legal Value Network and Blickstein Group shows 90% of Am Law 200 firms expect more alternative fees, due to AI challenging the billable hours model.
California will pilot remote court reporting in 13 counties next summer to enhance workforce competitiveness and to further integrate technology.
A court ruling suggests curating third-party content makes it first-party, risking Section 230 immunity and challenging existing internet protections.
Comprehensive AI legislation is forthcoming, with the U.S. Senate advancing bills focusing on AI transparency, safety, and innovation with both guidelines and penalties.
The NYC Bar Association is creating a task force with nine subcommittees to explore AI's legal, ethical, and international issues.
Nevada will use Google's AI to speed up unemployment benefit appeals decisions, aiming to cut backlog and boost efficiency.
The DOJ argues Google Ad Manager is key to Google's alleged monopoly by controlling connections between publishers and ad exchanges.
Taylor Swift's response to deepfakes underscores the legal struggle to regulate AI while safeguarding free speech and truth.
The Global LegalTech AI market is projected to grow at 34% CAGR (2024-2030) due to increased demand for legal data efficiency.
The Legal Practice Management report shows that 80% of SME law firms expect revenue growth by 2025, with 64% boosting tech spending.
Listen
Richard Tromans, founder of Artificial Lawyer, discussed the evolution of legal AI and its effects on various law firms. (27 mins)
Amy Conroy, a Data Scientist and Co-Founder of Law School 2.0, shares data science's role in legal practice and insights on legal technology. (42 mins)
Brian Moriarty, principal at Hamilton Brook Smith Reynolds, discusses generative AI's copyright risks, while Bloomberg's Michael Shepard covers TikTok's US ban and Sara Forden addresses Google's antitrust case. (38 mins)
Caitlin McCabe, a law graduate and ex-athlete, discusses her journey in legal tech, inspiring students and lawyers to embrace technology in legal practice. (34 mins)
Tanner’s Other Page Turners
Travelers returned and recounted their experiences during the ambitious seven continent, 9-month world cruise that bordered on a social media reality tv show on water.
The Ringer profiled the infamous 1999 Woodstock festival, and the escalating and dangerous events it entailed.
Japan’s housing market faces significant vacancies, up 80% over the last two decades.
See more about TLTF’s Portfolio Companies
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