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As yet, the prediction markets aren't trading on Paul, Weiss. But suppose that starts. There could be monster implications for making money and gaining influence on the law firm. I focus on those possibilities in this post on Substack. Careers. Forget all that. It’s about earning a good living, no matter what. Complimentary consultation with Jane Genova, StreetSmart Coaching (janegenova374@gmail.com)

  A bright spot in the US economy is legal services . In July 2026, it added 1,000 jobs, bringing overall employment to 1,245,200. That was in contrast to the   jarring development that the overall economy lost 23,000 jobs. But all is not rosy in legal. As in many other sectors, darkness is overtaking the bottom rungs of the ladder. Among large law firms hiring of new entries was down 7.5% last year.  Demand is for experienced lawyers. Also, AI might be performing more and more of the grunt tasks fresh-faced JD graduates used to do.  In addition, the usual path to one of those plum jobs in Big Law - the summer internship - is become more narrow. Fewer summers are being recruited. Moreover, without that hands-on summer experience it will be more challenging to land a full-time job post-graduation.  Experience counts more and more. Less and less is being an associate the training grounds for being of service in a large law firm. Milbank wants associates to start ...

  Pre-AI, as the law of supply and demand seemed to be shifting, a prudent strategy had been wait-and-see.  Given what AI can already do and what it's anticipated it will be able do, that could be classified as downright stupid. Those helping the software-as-a-service sector navigate being wiped out by AI recommend rapid resets.  For most industries negatively impacted by AI, I make the same recommendation. But even if I position and package that gently, I pick up that most aren't listening. There is magical thinking that hiring, promotions and employment security will return to what had been. The issue to them is when, not an if. Walking away from how you used to make a good living is so difficult for three reasons: Sunk costs. You got that MBA. You paid plenty of "dues" learning your field. The family life you sacrificed. Being so good at it. Hearing this justification for staying-put can be quite tiresome. I bite my tongue and don't point out that there had bee...

  As too many of us know, "consolidation" generates redundancies. The merged entity, for example, only needs one investor relations function. Workers' jobs go poof.  So, obviously the FCC's repeal of the 22-year rule that a media company can only own 39% of the audience should alert all functions in media of inevitable Reductions-in-Force. The sector breaks open to more consolidation.  The decline of those glam jobs will be accelerated. Last year, the cuts - numbering 17,000 - were up 18% from the previous year. Meanwhile, as I know from coaching, there's already plenty of tension throughout media workplaces. A shrinking industry sucks the joy out of doing what you love. Careers. Forget all that. It’s about earning a good living, no matter what. Complimentary consultation with Jane Genova, StreetSmart Coaching (janegenova374@gmail.com)

Television - remember that medium - actually had shaped the culture from the beginning of the 1940s until the late 2000s.  Part of that was developing our love and hate for lawyers. And much of the influence on us had been triggered by the drama embedded in the courtroom.  For Boomers, our first lawyerly love affair was with Perry Mason (1957 - 1966). That series had such pull power that even legal families, such as that of Paul, Weiss partner Brad Karp , gathered around the small screen weekly to enjoy the trial theatrics. Karp is a third-generation lawyer. Not only his parents but his maternal grandfather had practiced law. As the years rolled on the pro-lawyer shows became much more theatrically sophisticated as well as embedded in relationship dynamics. The model was probably "LA Law." Wedded and engaged couples watched Ann Kelsey and Stuart Markowitz navigate their own marriage.  The high point might have been "Boston Law." But holding its own had been "Th...

David Enrich described in the 2022 expose "Servants of the Damned," what he saw as Big Law's one-dimensional chase after Profits Per Equity Party. Ever since then there's been a railing against greed in large law firms. That reached a frenzy this week after The New York Times published the decisions Paul, Weiss leadership had made which were interpreted as necessary to bulk up PPEP.  Well, it's turning out that all that record-setting PPEP by firms such as Paul, Weiss, Quinn Emanuel and Proskauer isn't enough. At least not to fund the recruitment of star talent and integration of AI into strategy and operations. Consequently, they are exploring obtaining access to more capital in a way that doesn't violate the traditional rule against non-lawyer ownership of law firms. That "magic" path is through what's known as the management services organization structure (MSO). Already implemented in the highly regulated healthcare sector,  the MSO opera...