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Why PGA Tour caddies are going to be a LOT more competitive, Crossbeam VC's LegalTech predictions, and Financial Data is so Darn Lucrative
The Social Leverage Letter | Issue #174
Ethan Berk
February 09, 2025
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3 articles and 1 video
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READING
A two-man scramble took place at a Grass Clippings (Fund IV) golf course, with a big-money prize on the line, attracting top-level competition. The event was highly competitive with a minimum payout of $10K.
Crossbeam (SLAF) predicts continued strong fundraising in the LegalTech space, with large rounds and Series A deals expected to dominate in 2025. Early-stage funding will become harder as competition increases and investors expect more traction. AI adoption within law firms is projected to grow significantly, particularly in contract review and document drafting. Despite market saturation in big law, there are still opportunities in local law firms and AI tools tailored to personal injury and contingent pricing law.
Matt explores the evolving data and information services industry, highlighting the limited pricing power of non-exclusive data and the potential disruption from niche vendors leveraging advanced LLM capabilities. As automation lowers costs, smaller players may compete with big vendors by providing high-quality datasets at a fraction of the cost. He also discusses the lucrative practice of "triple dipping" in data, where companies charge multiple times for creating, maintaining, and licensing the same data. Despite competition, the data industry remains highly profitable with significant returns for well-established businesses.
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