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Podcast

Eric Friedman: Leading the Future of Law and Tech

42:24 min

What does it take to lead one of the world's most prestigious law firms through a global financial crisis, a pandemic, and now, a generative AI revolution?
In this episode, Eric Friedman draws on his three decades of experience at Skadden to dissect the current "headwinds" impacting the legal landscape. Now an advisor to legal tech leaders like Litera and Ironclad, Eric explores why adoption remains the number one hurdle for innovation and how the "client voice" is finally forcing the hands of reluctant law firms. From the "crystal ball" question of the billable hour's future to the potential for AI to move the needle on access to justice, this conversation provides a strategic roadmap for the future of legal services.

What You’ll Learn:

  • How tech, competitive dynamics, and geopolitics are creating a high-pressure environment.

  • Why meeting lawyers "where they work" is the only way to overcome the static of new tools.

  • Why value-based billing might finally gain traction as clients demand to share in tech-driven efficiency gains.

  • Understanding the complex "Middle Earth" between the business and practice of law to successfully sell to law firms.,

  • Why we are still in the "early innings" of tech innovation and why declaration of winners is premature.

Quotes:

  • “Law firms are under pressure from every direction... Tech, I'll start there... the emergence of this next wave of legal tech is definitely creating pressures on law firms. You also have a massive competitive dynamic... Law firms are ferociously competitive. That may always have been the case. It feels like it's notched up a bit.”

  • “Adoption is the number one challenge. You have to get through the static of which tools should we even pilot... Meet them where they're working and be accretive to what they're otherwise doing and you have to prove the value proposition in the real world for lawyers.”

  • “I do want to point out that at least since the mid 1980s, the legal media has been talking about the death of the billable hour. And so 40 years later, I would say it remains the predominant benchmark for legal service delivery.”

  • “I don't think it's a bubble. I think we're still in the early innings of tech innovation and adoption... it’s way too early to be declaring winners in this space."

Highlights

00:01
Introduction: Welcoming Eric Friedman, former CEO of Skadden.

01:04
The Pivot: Transitioning from M&A lawyer to the "Business of Law."

02:27
Under Pressure: Assessing the "ferocious" competitive and geopolitical landscape.

08:18
The Adoption Challenge: Why "meeting them where they work" is the key to success.

13:42
The Billable Hour Crystal Ball: Will tech finally kill the predominant benchmark?

23:54
The Founder’s Bane: Navigating the complex buyer persona in Big Law.

38:29
Access to Justice: Using tech to bridge the gap for the Legal Services Corporation (LSC).

41:35
Hottest Take: Why it’s still "early innings" for the legal tech battle.

About the Contributors

Joe Stephens

Joe Stephens, J.D., is Steno's Director of Legal Solutions as well as a Clinical Lecturer at Texas Tech University School of Law. With over 15 years of experience in criminal defense and public service, he founded and led Texas' largest rural public defender office, which serves a 12-county area. A graduate of The University of Texas School of Law (cum laude) and Vanderbilt University (B.A.), Stephens currently serves as a Board Member of the Texas Criminal Defense Lawyer's Association (TCDLA) and sits on multiple State Bar of Texas committees. His expertise spans the intersection of legal practice and technological innovation in the justice system.

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Adrian Cea

Adrian Cea is Steno's Social Media Manager, leading content strategy, audience engagement, and digital brand-building across platforms. He also produces and co-hosts Between the Briefs, Steno's podcast covering the intersection of legal technology, court reporting, and the future of litigation. With a background spanning content creation, field marketing, and sales at companies like Sell Better and Chili Piper, Adrian brings a multi-disciplined lens to making complex legal tech topics accessible and engaging.

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