Elon Musk's six-year saga defending his $56 billion Tesla Inc. pay package in the Delaware Chancery Court has captivated the state's tight-knit legal community and the wider world of Musk watchers, including his more than 200 million online followers.In January 2024, the court's chief judge struck down the pay package, prompting a months-long social media barrage—and a host of novel legal stunts—from the tech titan. In December, the judge rejected the compensation deal again, handing $345 million to the shareholder attorneys who led the case.On this episode of our podcast, On The Merits, senior correspondent Jennifer Kay and reporter Roy Strom discuss the long-running courtroom drama, the lead trial lawyer who took aim at the pay package, and the judge who has repeatedly stood up to the world's richest man.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

The year 2024 saw tons of firms looking for merger opportunities and the lightning-fast growth that they provided. Although there's still plenty of room for new mergers, the legal industry is constantly looking for other ways to be competitive as big companies like KPMG are looking to enter the legal services market.This edition of On the Merits was hosted for the first time by Tom Taylor, chief of staff of the newsroom. Reporters Meghan Tribe and Justin Henry, who cover the business of law, and Chris Opfer, who oversees that coverage, joined him to discuss the most significant issues and challenges facing the legal industry in 2025. And as the second inauguration of Donald Trump approaches, the team will discuss how firms could deal with Trump's "unscripted style" and the opportunities for Big Law during his second term.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Kevin Burke, former chairman at Hinshaw & Culbertson, now teaches at USC's Gould School of Law, focusing on the legal business landscape. He discusses how law students are eager to grasp firm operations and the impact of digital changes on the field. Through simulations, students learn to tackle real-world challenges in law firm management. Burke highlights their optimism about artificial intelligence, noting a shift in perception as they see its potential to enhance efficiency in their future careers.

In this engaging discussion, Bernie Kohn, Editor at Large at Bloomberg Law, dives into the year's top legal stories and trends. He highlights the transformative impact of AI on industries like law and journalism, alongside the resurgence of labor movements in a divided Congress. Kohn also addresses the growing skepticism toward the judicial system and the ways political figures, including Donald Trump, may reshape legal landscapes. The episode further explores advancements in diversity within law firms against a backdrop of ongoing disparities.

Robert Chesnut, former general counsel at Airbnb and a multifaceted speaker and author, shares his insights on the rising trend of side hustles among attorneys. He highlights how side gigs can foster creativity, networking, and skill enhancement. Chesnut stresses the need for law firms to adapt their codes of conduct to address ethical dilemmas and cybersecurity risks associated with these ventures. He emphasizes that embracing this trend can lead to significant career shifts while benefiting both attorneys and their firms.

As the presidential transition picks up speed, a legal sector that overwhelmingly supported Kamala Harris is preparing for Donald Trump's return to the White House.A handful of Florida-based big law firms with connections to the incoming administration are hoping to leverage those Trump ties, while Democratic-leaning firms are looking to retool.At the same time, a cryptocurrency industry that spent the Biden presidency playing defense is starting to flex its muscle. The pivot includes a rare public warning from the CEO of Coinbase Global Inc., the exchange, to law firms that may hire outgoing government lawyers who had a hand in crypto regulations.On this episode of our podcast, On The Merits, reporters Meghan Tribe and Justin Henry discuss the Trump transition, Coinbase's shot across the bow, and what these new dynamics may mean for the Big Law landscape and the future of crypto.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

Neil Barlow, a private equity partner at Clifford Chance, shares his expertise on the anticipated surge in mergers and acquisitions. He discusses how a favorable political climate might ignite M&A activity, yet paradoxically reshape the types of deals law firms handle. Barlow highlights the shift from complex transactions to a greater volume of simpler ones, emphasizing the evolving nature of private equity deals. He also addresses legal challenges and the critical role of law firms in navigating these dynamic market conditions as they strive for success in 2025.

Justin Henry, a Bloomberg Law reporter, discusses the rise of non-equity partnerships in Big Law. He explains how this new tier of partnership operates—offering prestige without ownership and lower compensation. Some lawyers embrace the title to enhance their professional standing, while others express dissatisfaction, even resorting to litigation. The conversation sheds light on the evolving landscape of law firm structures, including financial implications and the competitive dynamics at play in attracting talent.

Today’s Big Law firms are huge businesses—the world’s biggest might surpass $8 billion in revenue this year.As the largest firms create an elite tier, more law firm leaders are choosing to achieve scale through mergers.On this episode of our podcast, On The Merits, Bloomberg Law’s Roy Strom spoke with Kent Zimmermann, a principal at law firm consultancy Zeughauser Group, about how leaders close those deals.The process includes showcasing your best attributes, setting expectations for a potential partner, and only closing deals when the firms’ cultures align closely. In other words, it’s a lot like dating.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Corporate DEI measures saw a surge during and after the nationwide unrest over George Floyd’s murder by Minneapolis police, but they've since become a major political, legal, and cultural flashpoint.Companies that adopted diversity initiatives in 2020 and afterward are now trying to figure out how to retool as they confront a backlash that seems to be partly about weariness with bureaucratic initiatives, but also partly a reflection of demographic anxieties.On this episode of our podcast, On The Merits, analyst Kate Azevedo and reporter David Hood discuss the challenges that DEI initiatives are facing, the way business and other organizations are responding, and what the future may hold under an incoming administration that's openly hostile to diversity policies.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690