45 - Gen AI, Growth Challenges, and Corporate Collaboration with Haley Altman

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Nov 20, 2024

Haley Altman, a corporate attorney and legal tech innovator, discusses the transformative power of Generative AI in legal operations. She shares her journey from founding Doxly to navigating corporate development at Litera. The conversation tackles balancing startup agility with corporate stability while managing investor expectations amidst inflated valuations. Haley emphasizes the importance of strategic partnerships and clear communication in fostering innovation, as well as adapting to evolving market demands in legal tech.

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ANECDOTE

From Big Law to Legal Tech Entrepreneur

Haley Altman transitioned from Big Law to entrepreneurship, founding Doxly, a transaction management platform.
Doxly was later acquired by Litera, where she led corporate development and oversaw multiple acquisitions.

INSIGHT

Impact of Zero Interest Rates on Valuations

The influx of capital during the zero-interest-rate period drove speculative investments and inflated valuations, particularly in pre-product rounds.
This led to high valuations without proven product-market fit, changing investor expectations.

ANECDOTE

Building GenAI within Litera

Haley Altman and Brett Balmer pitched and built Dragon and Lattice, new GenAI products within Litera, adopting a startup approach within a corporate structure.
This allowed for faster development, leveraging existing resources and customer relationships while integrating with Litera's tech stack.

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In this episode, Ted connects with Haley Altman for a dynamic conversation on Gen AI’s role in transforming legal operations, high valuation challenges, and opportunities for innovating within a corporate structure. Haley shares insights on balancing startup agility with corporate resources, detailing how her team developed Gen AI solutions that bridge real industry needs. Packed with practical anecdotes on managing client expectations, rapid tech cycles, and scalable solutions, this episode is a must-listen for anyone interested in the evolving landscape of legal tech.

In this episode, Haley shares insights on how to:

Leverage Gen AI to enhance legal transaction processes
Create a startup culture within a large corporate structure
Balance aggressive growth goals with sustainable product-market fit in tech
Manage investor expectations in rapidly evolving markets like AI
Build strategic partnerships that bridge innovation and industry demands

Key takeaways:

Balancing entrepreneurial freedom within a corporate environment requires clear scope definitions and trust in partnerships to keep innovation-focused and aligned.
Valuations in AI and legal tech are currently inflated by non-traditional investors who may not fully understand the industry’s slower sales cycles and compliance demands.
Even within budgets or alternative fee arrangements, clients often still want to see detailed hours and breakdowns, reflecting a hesitancy to fully abandon traditional billing.
In law firms, many are overwhelmed by the sheer number of new Gen AI solutions, creating significant delays in evaluating, piloting, and integrating new technologies.

About the guest, Haley Altman:

Haley Altman is a corporate attorney, founder, and advisor in the legal technology innovation space. She began her career in Big Law, first as an associate and then as a partner, before transitioning to entrepreneurship as the founder of Doxly, Inc., which was acquired by Litera. There, she rose to Global Head of Corporate Development and helped lead 10 acquisitions. Recently, Haley shifted to a strategic advisor role at Litera, supporting the leadership team in M&A and product strategy, including the development of two generative AI solutions, Dragon and Lattice. She leverages her extensive experience as an entrepreneur and former lawyer to understand the technology, processes, and workflows that help lawyers while maximizing client satisfaction.

“With Gen AI, there was so much going on all at once that you really need to think about: how can I build something new?” – Haley Altman

Connect with Haley Altman:

LinkedIn: https://www.linkedin.com/in/haley-altman/

Connect with Ted Theodoropoulos:

Website: https://getinfodash.com/

LinkedIn: https://www.linkedin.com/in/tedtheo

YouTube: https://www.youtube.com/@getinfodash/podcasts