Moneyball

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Several in-house innovators are converging on a set of best practices.

In Competition based on better commercial contract terms (211), I reviewed the current norms surrounding commercial contracting and postulated that the growing transparency regarding what is market for a particular term would cause the market for contracts to evolve from its current souk-like state to something that more closely resembles a modern e-commerce marketplace.  Since that post came out in December 2020, numerous companies have been employing AI tools such as TermScout. and crowd-sourced data such as Bonterms, to make their contracting practices more data-driven.
Continue Reading The emergence of data-driven contracting: notes from the field (292)

Pretty much everything was a counterintuitive curveball.

In April of 2006, more than 15 years ago, I wrote a memo to file that would go on to exert a disproportionately large impact on my thinking and career, albeit many of the lessons took years to come into focus and were far from what I expected.

The topic was Moneyball as applied to law firm associates—in essence, sketching out the data and methodology necessary to identify under and overvalued attributes of law firm associates, akin to the selection methods used by Oakland Athletics in the famous book by Michael Lewis.
Continue Reading Moneyball for law firm associates: a 15-year retrospective (257)