4 ms·
It's sort of a catch-22, Law in the US is only a lucrative market to disrupt because the regulation and gatekeeping has made labor expensive. If lawyers didn't
by idkyall 4y ago
It's sort of a catch-22, Law in the US is only a lucrative market to disrupt because the regulation and gatekeeping has made labor expensive. If lawyers didn't bill 300+/hr in the US, then an AI powered startup to replace them wouldn't be cost effective. There's a joke I saw recently about a guy hiring a lawyer for a $800 traffic violation and getting a bill for $1200.
I can't speak to the price of a lawyer abroad, but a quick google seems to indicate US lawyer salaries on avg are up to ~2x as much as in some parts of Europe[1][2].
[1]https://www.legalcheek.com/2020/12/revealed-the-eu-countries-where-lawyers-earn-the-most/ https://www.legalcheek.com/2020/12/revealed-the-eu-countries...
[2]https://money.usnews.com/careers/best-jobs/lawyer/salary https://money.usnews.com/careers/best-jobs/lawyer/salary