Eve builds legal knowledge from cases that never become public

Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

1. 20:25

   And I guess one of the things that a lot of founders are thinking about right now at the application layer is like, uh-oh, maybe I'm roadkill from the big guys, right? Like the labs that produce the intelligence, maybe they're going to go tackle MySpace next. And I'm toast. And there are many ways of defending against that. But defending kind of sells it short because if you're able, like, if you have a network effect or if you have data that actually nobody else has, you can deliver better outcomes.

2. 20:53

   So, you know, who cares if everybody uses ChatGPT or Claude behind the scenes or on their own? But maybe talk about, like, I'm sure you've thought about this a lot. You know, why is Eve better than just kind of like raw intelligence? And how does it get better? Because it does the more practitioners that use the product. Yeah, we're betting on these models getting better and better. And our value is exactly that.

3. 21:20

   You know, if you have a thousand Albert Einsteins to work with to do litigation or, you know, the best attorney ever to do every single task, we would take it. The problem is if you drop Albert Einstein into a law firm today, he will not be productive for quite some time. And that is a general problem that Eve is solving, right? And why won't that person be productive? Well, it's due to a number of things.

4. 21:43

   I think one is in plaintiff law, the vast majority of data is actually non-scrapable. about less than a percent of cases actually settle and get turned into case opinions. Right. Vast majority settle pre-demand or pre-litigation. And some even before that, right, where it's actually just a negotiation of, hey, this is how I was wronged, please fix it. And to make that concrete, it's like, I'm in a car accident, I'm not at fault.

5. 22:07

   You know, the adversary, if you will, like the other side's insurance company is like, oh, you weren't that hurt, we'll give you a dollar. Right, they always try to like deny, deny, deny, Like rule number one of an insurance carrier is deny. Rule number two is deny. You know, it just goes on. Those are all the rules of insurance carriers. So now I hire a lawyer and to actually get what I'm owed because I actually am injured and my car is actually totaled and they just don't want to pay me.

6. 22:31

   You get a settlement. It doesn't go to case. It doesn't go to actual trial. But you know. That's right. That Geico actually did pay $29,000. And that's very, very useful information, I assume. That's right. Because insurance is the one that's dealing with 100,000 different law firms. So they have the shared community. They know all the cases, but because it's sharded across all the different local firms, they don't know exactly Geico's every single move.

7. 22:57

   That's exactly right. And, you know, they even have ominous sounding software like Colossus, which tracks, you know, they try to basically say, a broken thumb, this is how much we think it's worth, which is a hard thing to do. In their defense, like it's a hard thing to do, but they are doing that. but also saying this is how much we can get away with giving them away for and irrespective of that individual's actual need of their particular situations. And that's what the legal system is meant to fix. That's what it's there for. And what now is happening is, and this is the interesting bit and the challenge is if you go and Google, how do you write an amazing demand letter for, again, State Farm for soft tissue injury cases like that today exists nowhere, even for a new you paralegal that is joining a plaintiff firm this is something they have to learn and on top of that

8. 23:49

   it gets more complicated because when you're in local jurisdiction the local environment like the court systems uh your opposing counsel they all behave a little differently and that context matters too so what eve is doing is it's turning this historically incredibly difficult to utilize multi-attribute, multi-dimensional information that is basically what is the best thing I can do at this particular moment to improve the outcome of the case.

9. 24:18

   And that same question is repeated thousands of times during the case. And a human brain is just not capable of kind of keeping all of that in mind. And, but AIS, right? And that is the type of data we help build for law firms and they're seeing the immediate value from it. And the first place where they see value is, of course, intake. Who do I even take on? Who am I good at representing? And maybe start there and keep getting better.