Big Law Life #36: BigLaw Insights From Bloomberg Law Reporter Roy Strom
In today’s episode, I am joined by Roy Strom, Big Law reporter and columnist at Bloomberg Law. Roy shares his journey into legal journalism, the complexities of reporting on the legal industry, and the unique challenges faced by large law firms in today's market.
The conversation explores the business dynamics of law firms, the influence of AI, and the evolving role of legal professionals in managing firm strategy and profitability. This episode is packed with insights for attorneys navigating their careers in large law firms, especially those interested in understanding how journalists covering the legal industry approach their subject.
At a Glance:
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00:00 - 00:00:51 - Introduction and overview of the episode’s focus on Big Law and media coverage
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00:51 - 02:26 - Roy Strom’s background and his journey into legal journalism
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02:26 - 06:19 - Roy’s early career aspirations and transition from sports journalism to legal reporting
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06:19 - 08:07 - Similarities between covering the legal industry and sports
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08:07 - 13:50 - How the legal market and law firms are unique in the business market
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13:50 - 16:01 - How change has or hasn’t accelerated in law firms due to external pressures
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16:01 - 22:01 - Shifts in compensation models and the impact on law firm culture and partner dynamics
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22:01 - 25:19 - The growing divide within the legal industry and the role of business of law professionals
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25:19 - 35:31 - Challenges in covering the legal industry from a journalistic perspective
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35:31 - 40:21 - Current trends in legal journalism, including the focus on AI
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40:21 - 42:32 - Roy Strom’s thoughts on what’s ahead for Big Law in 2024 and beyond
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42:32 - 43:05 - Closing remarks and where to find more of Roy’s work
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How to reach Roy Strom rstrom@bloombergindustry.com
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Show notes: https://www.lauraterrell.com/podcast