Date: October 29th, 2026 10:14 AM Author: הדרך היחידה לגן עדן היא מחקר משפטי ()
Law firms are fixed cost centers with rainmakers who bring in business. The rainmakers can leave and take their business with them. Once the first guy bolts, bolting becomes more attractive to the second buy, because now his book of business is less profitable because it's attached to a cost center that has less revenue. If this goes wrong, it's a stampede and the firm dies. Law firm management is keeping the rainmakers happy which mostly just means money. We'll find out more in the coming months, but Weil badly misplayed this game. All the rainmakers left, meaning the "business" was just a fixed cost center without enough work to justify it.
Date: October 29th, 2026 10:39 AM Author: הדרך היחידה לגן עדן היא מחקר משפטי ()
Office culture, dress code, whether the office is in midtown or wall street, who gets the better office space, and a billion other petty office politic shit things. They should recruit managing partners from kindergarten teachers because it's a very similar dispute resolution skillset.
Date: October 29th, 2026 10:48 AM Author: הדרך היחידה לגן עדן היא מחקר משפטי ()
Right. In theory you could cut associates and staff the moment a rainmaker bolts to fix costs to new expected revenue, but then that also starts a death spiral because clients think you're in trouble and don't want to start a years long M&A deal with a firm that's shrinking. Plus, what if you need to expand again? Understandably, lawyers and staff aren't going to be thrilled about signing the dotted line on a firm that will cut them the minute Shlobo M. Abramowitz gets ten more shekels from the competition and leaves. Law firms are a very funny business model.
it's also not so easy to fire people quickly. and also, if you do start firing people, your good associates are going to see the firm is in trouble and jump ship. all part of the death spiral.
Date: October 29th, 2026 10:15 AM Author: .Nicholas J. Fuentes
Apparently a dispute between which of the most profitable parts of the firm to emphasize resulted in lots of top partners leaving. Which led to others leaving. Which started the death spiral bc now PPP is permanently fucked. This thread explains it well
Some of that and working 80 hours like a bitch. But definitely dinners and things like golf and taking them to firms box at MSG. I get to go to a couple Knicks and Rangers games every year on someone else’s dime.
Most people are too low IQ to do the work. It’s really that. Legal work at that level is highly technical and a PITA and most people can’t read a 40 page PPM and follow the whole thing if their lives depended on it. Most lawyer fake it good. Can’t fake it with a billionaire - at least not for long.