Gabe Pereira

I think my point is just in the past couple months, the jump we've seen coding models, I think most of the world is still underestimating how much this is going to change everything.

I think everyone has somewhat gotten comfortable with what GPT-4, GPT-5, this caliber of models are.

Means I don't think most people have baked in what this next capability jump, which I think is equivalent to like GBD three to GBD four.

And so in terms of adoption, most law firms we work with now or all law firms are like, we need to adopt this.

And I would say where most law firms are at is every one of my lawyers needs to be using this technology individually.

There are a lot of law firms that are thinking about, here is how I need to change entire practice areas, like the workflows of a client matter that I'm doing with an entire team.

And so starting to think about, okay, here's the parts of a merger that I'm just going to delegate to AI.

And then I would say there is a decent number of firms that are then looking at the different ways they collaborate with their clients and price that work.

And so...

I would say the industry is definitely moving in the right direction.

People are starting to think about this.

And then their clients are also starting to look at this.

So I think one thing that will be interesting is most large enterprises have large internal legal teams and then also work with their law firms.

And there's obviously a blurred line between which work stays internal and stays external.

And there will be this healthy tension of enterprises thinking about this is the work that I should do myself as these models get better versus this is the very specialized work that I want these outside law firms to do.

If we go to the extreme, do I think 50% of these jobs will go away in the next two years?

I would say that's too extreme.

And then I would say...

Where are law firms right now?

I would say most of them are underestimating to your point of like how good this technology is going to get.