A LinkedIn post from Steno highlights a discussion on the future of law firm pricing and legal technology from its “Between the Briefs” podcast. The post notes commentary from legal tech advisor Eric Friedman, identified as former chairman and CEO of Skadden, on how firms may navigate a transition away from pure billable-hour models.
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According to the post, Friedman suggests that alternative fee arrangements are developing on top of traditional billable hours rather than fully replacing them. He also reportedly discusses drivers of legal tech adoption and raises the possibility that companies currently drawing the most attention may not be the ultimate long-term winners.
For investors, the content points to Steno’s positioning around industry thought leadership on law firm economics and technology-enabled services. Emphasis on evolving fee structures and tech adoption could signal ongoing demand for solutions that improve law firm efficiency and revenue predictability, areas where Steno may seek to differentiate its offerings.
The focus on potential divergence between headline-dominant vendors and long-run leaders may also indicate a fragmented competitive landscape in legal tech. If Steno can leverage its media and educational content to deepen relationships with law firms, the firm could enhance its brand, support customer acquisition, and potentially strengthen its standing in a growing niche of legal services infrastructure.