Max Shafer @MaxShafer910

> Your boss asks you to lead a project > You need a legal agreement > You open your LLM of choice > “Draft me an agreement.” > “Make it airtight.” > “Add a custom provision for this weird edge case.” > LLM delivers a 25-page, hyper-protective agreement > You don’t fully understand all of it, but it sounds right > You send it > Counterparty opens their LLM > “Find every issue.” > “Rewrite this in our favor.” > “Also add protections so we don’t get burned.” > You get back a 35-page redline > Half the comments contradict yours > Some provisions now interact in ways you don’t understand > Your boss asks: “Are we covered here?” > You pause Because now the real question isn’t: “Can an LLM draft an agreement?” It’s: “Do I actually understand the risk I’m signing up for?” And: “If this goes sideways… who owns that decision?” What’s your next move? Do you get it now??

Aaron Levie @levie

4 months ago

We will likely have more lawyers in the future than today, because: 1) AI will cause so many more people to ask legal questions which will encourage them to need to verify or execute through an actual lawyer. 2) AI will cause an explosion of more and more exotic legal terms

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The content I was tested on for the bar has approximately ~0 to do with what my clients hire me for.

Chris @chriswithans

4 months ago

You should be able to look up a lawyer's LSAT score, what their actual bar exam score was, and if they required any special accommodations for both. And if they don't like it? Don't become a lawyer. They have the fate of people's lives and/or property in their hands.

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I will never forget the generosity of equity partners who, seeing that I’m hungry and grinding, decide to share opportunity with me.

This is going to be a great deposition exhibit.

Bill Ackman @BillAckman

4 months ago

I am reaching out to the @X community for advice with the likely risk of sharing TMI. I have been sufficiently upset about the whole matter that I have lost sleep thinking about it and I am hoping that this post will enable me to get this matter off my chest. By way of

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If you want to stay a poor lawyer, keep delivering before getting paid. I made that mistake myself, just days after being called to the Bar. Not anymore these days, my invoice comes first.

@SellersCounsel Whenever I see “lawyers suck and should not exist” takes from “business” people, my assumption is that there was a bad experience with a divorce attorney…

Can’t wait to litigate these contracts.

Nav Toor @heynavtoor

5 months ago

🚨 BREAKING: Claude can now write legal contracts like NDAs, freelance agreements, and LLC paperwork better than $800/hour corporate lawyers. Here are 12 prompts that replace $15,000 in legal bills: (Save this before it disappears)

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Most lawyers never think of themselves as businessmen. Instead, they think of themselves as employees. This is why most never make real money and end up “semi-employed” at 43. Remember: a JD and bar admission is essentially a fancy taxi medallion. It’s a license to do business

(1) certainly not a model of clarity; (2) not the five alarm fire anticipated.

Blueprintsmb @blueprintsmb22

5 months ago

My friend followed this thread and gave me permission to post the language in the seller note (deal closed 3 years ago) that AI did not like. He said it’s the most he’s willing to share as he’s aware X will prob want the entire document lol x.com/blueprintsmb22…

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Banger

Analytic Valley Girl Chris @ChrisExpTheNews

5 months ago

I was using ChatGPT for legal advice and it decided to completely hallucinate some preposterous nonsense about how growing wheat to use on my own farm somehow constitutes interstate commerce

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I’d like to see AI do this.

Meghan Bobrowsky @MeghanBobrowsky

7 months ago

There is an amazing legal saga playing out right now between JP Morgan Chase and Charlie Javice. Charlie’s legal team sent JP Morgan $74 million in bills including for $530 worth of gummy bears and $347 for three charcuterie boards for an “afternoon snack” Full list below:

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The NC Business Court is a great forum for complex business litigation, but getting there is a hurdle for litigants. The court regularly rejects designations. I broke down the different cases the court will accept and the process for getting there. cshlaw.com/resources/when…

Good info!

Scott Oliver @SAOliver_Atty

7 months ago

As the resident SBA lawyer, I “can’t not” post about the PN that went out today… No clickbait, shock value, or adorable pictures of my Irish Doodle puppy… Just a double negative in my introduction and the nuts and bolts of the notice… The PN clarifies who may own and

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A 30-second 2025 “year in review” for Main Street business: If you’re in the lower middle market, 2025 was a stress test. Between higher borrowing costs and trade-policy whiplash, Main Street felt the squeeze while bigger players stayed more insulated. The big inflection point was April 2, 2025, when President Trump branded “Liberation Day” and announced sweeping new tariffs that injected fresh uncertainty into costs, pricing, and planning. In June, SBA lending got materially tighter with SOP 50 10 8 taking effect on June 1, 2025, changing eligibility and underwriting expectations for 7(a) and 504 loans. Then the fall brought a 43-day U.S. government shutdown, which added another layer of disruption and caution. Zooming out, lower middle market M&A stayed soft, with one mid-year read showing deals under $250M EV down about 12% in the first half of 2025. Net result: more hesitation, longer timelines, tougher financing, and a bigger gap between “can still buy” and “can’t get comfortable.” Here’s to hoping things will be quieter in 2026! 🥂 — Eric

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Just ended a panel on self-funded search. These were my parting thoughts. Let me know what I have wrong: Business buying is more crowded than ever, and it’s been a brutal year for small business with tariffs, SBA changes, government shutdowns, inflation, etc. But entrepreneurship is still incredible for people who are fit for it. And M&A remains, in my opinion, the best pathway overall to getting into business ownership. M&A is not a new phenomenon. The new phenomenon is the type and amount of people seeking to buy businesses under new, fancy (but made up) titles like “self-funded searcher.” M&A has been conducted since the beginning of time, and it’s a central tenet of our economy. There will continue to be M&A in perpetuity. If you’re going to buy a business, ignore advice from new and untrusted sources looking to make a quick buck, and stick to trusted economic and business principles. Namely, be patient and find a good business for a good price. And make sure the business is a fit for YOU. To provide one obvious example, I’m an M&A attorney. I’d do fine running an accounting firm, but if you put me in a deeply blue-collar scenario, I’d almost certainly struggle. Once you find the right business, get good advisors to support you in the transaction. Do a quality of earnings with a trusted transactional accountant. Speak to experienced investors who look at hundreds of deals per year, many of whom were successful business acquirers themselves. If they all say “no” to the chance to invest, listen to them. Then consider actually taking their money. Lower leverage means lower risk. Speak to reputable bankers who look at hundreds of deals per year. If they all say “no” to the chance to lend you money, listen to them. Trust me, you can find the money, but if you need to talk to 10 banks to get it, you’re overlooking something serious. Finally, hire a good M&A attorney, regardless of whether it’s us. I don’t care. But don’t take a multi-million dollar personally guaranteed risk without hiring someone great to be in your corner. Entrepreneurship and business acquisition will continue in 2026 and beyond. If you want a piece of the action, it’s still there for the taking. In sum, follow sound and age-old business tenets: buy a good business at a good price that fits you, do a QoE, speak to experienced investors and lenders (and listen to them), use lower leverage, hire a good M&A attorney, and be patient in the process. Wait for your pitch, use sound fundamentals, and you’ll be fine.

@SellersCounsel I’ve seen law suggesting that owners of closely held corps CAN be deemed to have knowledge of certain records. Absolute nightmare for seller if there’s a problem. Likely not applicable to a mega deals, but, if not drafted around, in a smaller deal, could spell huge issues.

@ClintFiore I’m sure! There’s definitely a selection bias from my perspective. The folks who come to me are the ones who (1) know their execution should have worked and (2) took the time to figure out why it didn’t only to discover they were sold a bill of goods.

@ClintFiore

> Growing is stressful. > Stagnating is stressful. > Declining is stressful. Which stressor would you prefer? You can only pick 1

Codie Sanchez @Codie_Sanchez

8 months ago

Don't quit because it's stressful, anything worth it will give you grey hairs. Expect the stress.

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