Business professor Adam Grant, writing in the New York Times, argues that business networking activities are overrated. (Grant is the author of Give and Take, one of the rare business advice books that I have actually read. It’s worthwhile.) Formalized networking events, Grant argues, are not only uncomfortable (we knew that already), but they’re ineffectual as a means of building real professional connections. Instead of using networking to seek to achieve things, he contends, we should reverse the order and use our great achievements to build a network.
Ezra Klein, writing in Vox, argues that at least over the short to medium-term, robots won’t be taking our jobs. Stating that most jobs a hundred years ago involved the production of food and collection of water, he goes on to note that:
Compared to those ancestors, humans today are a massive useless class. What sort of job is “editor of an explanatory journalism web site” next to “farmer”? Would our ancestors value the work of psychologists or customer service representatives or wedding planners or computer coders?
Eilene Zimmerman, whose ex-husband Peter died of a drug overdose, published an arresting account of his descent into addiction. Peter was a patent attorney at Wilson Sonsini, and Zimmerman ties Peter’s story to a larger problem of drug and alcohol abuse in the legal profession. While I haven’t witnessed much of this problem firsthand in my interactions with other attorneys, the problem identified by the article is that the culture at law firms leads attorneys to hide signs of weakness, so it’s not surprising that I haven’t seen it.
The New York Times writes about the rise of “pop-up” employers, essentially temporary organizations that are organized for a specific project and then go away. As the article notes, certain types of activities have been organized in this manner for a long time – Hollywood productions and political campaigns, for example. What’s changed recently is the exponential improvement in technology that can match people to tasks efficiently, allowing even complex organizations in many different industries to be created quickly.
I believe this approach could be employed in the provision of legal services. Currently, only large law firms can efficiently handle projects requiring the involvement of more than a few attorneys. But it’s not hard to imagine a portal that can be used to identify a team of attorneys to work on, say, an M&A transaction (senior and junior corporate people, tax, benefits, etc.). Of course, this sort of arrangement would have to be harmonized with existing rules for attorney client relationships (i.e., does the client engage the portal or each of the individual attorneys? How are conflicts handled?). As I’ve written about recently, my firm has joined a network of solo and small firms, and this sort of arrangement has the potential for being the basis for pop-up teams of attorneys. [Read more…]
I recently got around to seeing The Founder, the movie dramatizing the early years of McDonald’s, as Ray Kroc transformed the McDonald brothers’ local fast-food restaurant into an eventual global juggernaut. Given the business I’m in, films about entrepreneurial activities are inherently interesting to me, so scenes in The Founder involving people reviewing and signing contracts are perhaps more attention-grabbing to me than they are for the general public.
As recounted by the film (spoiler alert), Kroc grows tired of the brothers’ stubborn refusal to approve his proposed changes in business practices to facilitate fast growth, and he finds the deal he struck with them unprofitable. The brothers ultimately agree to unwind the deal, proposing a buyout by Kroc of them for $2.7 million plus a 1% royalty in perpetuity. Kroc agrees, but says his lawyers need the 1% piece to be a handshake deal, not in the contract, so as not to hinder Kroc’s future financing plans. At the end of the movie, we find out that Kroc reneged on this and never paid them any further.