On The Merits

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

In this engaging discussion, John Quinn, founder of Quinn Emanuel Urquhart & Sullivan and a pioneer in adopting AI in law, shares insights on the transformative impact of generative AI in legal practice. He explains how the firm is automating document review and drafting, saving up to 50 billable hours with a single click. The conversation also tackles the future of billing practices, the evolving roles for associates, and the crucial balance between AI efficiency and essential legal skills. Quinn emphasizes that while AI enhances productivity, the role of human advocates remains vital in the courtroom.

President-elect Donald Trump is poised to further shape a federal judiciary he remade during his first term.Building on his historic number of appointments, including Supreme Court justices Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett, Trump will likely choose nominees that are even more reliably conservative this time around. And, because of his success moving the judiciary to the right, Democrats seeking to challenge future Trump policies have fewer options for finding a receptive forum.On this episode of our podcast, On The Merits, Bloomberg Law reporters Tiana Headley and Suzanne Monyak, along with Bloomberg Law columnist and Above the Law founder David Lat, discuss how the Trump team will select judges, who those nominees could be, and what this means for litigators.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Associates at Big Law firms are accustomed to a tradition: Whenever one law firm raises associate salaries or doles out a bonus, other firms scramble to match. But this year, something strange happened: A Wall Street law firm, Milbank LLP, in August gave out a special bonus, and none of its law firm competitors followed suit.Bloomberg Law’s Roy Strom spoke with his colleague Meghan Tribe about what might happen next for associates' bonuses on this episode of our podcast, On The Merits, and how law firms' revenue this year compares to 2021, the last time associates reaped a windfall from a boom in work.We also discuss whether associates across Big Law might still benefit from the special bonuses, which ranged from $6,000 to $25,000.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Katie Arcieri, a Senior reporter at Bloomberg Law specializing in antitrust litigation, joins Justin Wise, a reporter focused on antitrust agencies. They explore how major landlords allegedly colluded to raise rents using AI-driven software, drawing parallels to similar cases in the hotel-casino industry. The discussion delves into the legal challenges of proving tech-enabled price-fixing and the implications of recent federal rulings. With the housing crisis at the forefront, they unpack the intersection of AI, antitrust law, and government action.