The Week That Unmasked Law Firm Dinos, Ruled Which Romance Is Okay and Made Legal Engineers Glam
The post in Reddit nails it. This week's once-unthinkable raid of Wachtell by Gibson Dunn unmasked how vulnerable many seeming successful law firms are. Along with Wachtell, Cravath, Williams and Connolly and more are being written off as dinos. To even survive they will have to overhaul their model and probably stick to being domestic firms. Smirk. No surprise then that Cravath, once a market-maker, hasn't matched Milbank. Meanwhile Milbank has added an off-season bonus to its salary jump. Milbank could be establishing itself as an alternate model. In addition, as The Wall Street Journal posited, mega is the present and the future of practicing law. Obviously, the media will shift coverage to concentrating on what Gibson Dunn, Kirkland & Ellis and Latham are up to. Smaller players could be fading entities. Like Medieval monks, they may labor in obscurity. Along with that development this week, what we also know: Cupid's bow has lots of reach in law firms. Not onl...