Ethics

The Recorder is reporting that "A venture capitalist fed up with overpriced and overly fastidious lawyers broke the code of silence among money men to vent his frustrations on a blog Sunday."   The VC complains of spending money on a senior partner to discuss routine matters.  He also says that financings aren't that complicated.  The article is anecdotal evidence for Bill Henderson's argument that there is an enormous arbitrage, "money ball" opportunity in biglaw, and is confirmation of David Maister's thesis, which Mitt Regan has been using lately, that during the lifecycle of legal work cutting edge work inexorably slides toward routinization.