Please Do Not Disrupt: When Will Law Have its 'Uber' Moment?

David Bushby | Chief Operating Officer | @davidbushby

lexoo.co.uk

The Era of #LegalTech

lexoo.co.uk

Kicked off in 2011, 22 May.

https://techcrunch.com/2011/05/22/hackathon-winner-docracy-is-a-github-for-legal-documents/

The Money

lexoo.co.uk

$739M in global, aggregate funding from 2011 to 2016 (as at 7 July 2016)

https://www.cbinsights.com/blog/legal-tech-startup-funding-2016/

The Numbers

lexoo.co.uk

AngelList: 1,451 ‘legal’ startups (as at 20 Sept 2016)

https://angel.co/companies?markets[]=Legal&markets[]=Legal+Tech

The Real Numbers

lexoo.co.uk

Law Hackers: 578 legal startups (as at 20 Sept 2016)

http://www.lawhackers.co/

The UK Numbers

lexoo.co.uk

Legal Geek: 53 legal startups (as at 20 Sept 2016)

http://www.legalgeek.co/startup-map/

Disrupt(ing)

The

Law

AI (Research)

lexoo.co.uk

The AI Lawyer, ROSS

http://www.rossintelligence.com/

Enjoyed by:

AI (Contracts)

lexoo.co.uk

Machine Learning-based text analytics, by Kira Systems

https://kirasystems.com/

Enjoyed by:

Access to (micro) Justice

lexoo.co.uk

Over 175,000 parking tickets disputed via DoNotPay

http://www.donotpay.co.uk/

Litigation Crowdfunding

lexoo.co.uk

LexShares raised $100K to fund a whistleblower case - settled for $28.5M (93% return)

https://www.lexshares.com/

Marketplaces

lexoo.co.uk

8,731 businesses have now used Lexoo to find a lawyer

Accountants et al.

lexoo.co.uk

PwC Legal turns over £41m in 2015; targets £100m by 2018

http://www.legalbusiness.co.uk/index.php/lb-blog-view/4629-pwc-legal-targets-100m-turnover-by-2018-as-revenues-rise-15

The ‘Uber’ Moment

lexoo.co.uk

Disruption at play...

http://www.forbes.com/sites/dandiamond/2015/06/17/if-uber-drivers-are-employees-company-faces-hard-decision-on-health-care/#5f284c7c4a3c

REUTERS/Lucy Nicholson

Early Signs

lexoo.co.uk

Avvo (US) feeling the heat...

https://goo.gl/WnnM49 and https://goo.gl/peuNc3

REUTERS/Lucy Nicholson

Preparing For Battle

lexoo.co.uk

“Regulators! Mount up.” - Warren G, 1994

https://www.lexoo.co.uk/blog/the-dawn-of-legal-price-transparency/

REUTERS/Lucy Nicholson

But Losing The War

lexoo.co.uk

“Unmet legal needs.”

https://research.legalservicesboard.org.uk/wp-content/media/2015-2016-FINAL-Market-Evaluation-Main-report1.pdf

REUTERS/Lucy Nicholson

“...we believe the pace of change needs to quicken or in the long term consumers will go to other providers or adopt other

problem resolution strategies.”

- Legal Services Board, UK (July 2016)

Legal Disruption

lexoo.co.uk

Will look like...

REUTERS/Lucy Nicholson

Non-traditional players

Plus

#LegalTech

Questions?

Follow us @lexooFollow me @davidbushby or @lawhackers

David Bushby | Chief Operating Officer | @davidbushby

lexoo.co.uk