Pieter Gunst, an Entreprenurial Fellow at CodeX and co-founder and President of Legal.io, advises us to check out a post on the Legal.io blog, “How Market Networks Will Reshape the Legal Profession. The post opens with a quote from attorney Carl Schwait, a member of the Florida Bar Board of Governors: “It’s a strange paradox, isn’t it? We have clients who don’t have the ability to procure legal services, yet at the same time we have lawyers who need more work, who want to work.”

Says Legal-io (no individual is listed on the byline): “To anyone paying attention, the current legal industry is seemingly defying the most basic laws of supply and demand. We’ve somehow ended up with skyrocketing consumer demand for legal services, yet law schools nationwide are being encouraged to lower class sizes.”

“So how do we fix this? Here at Legal.io, we believe in the power of technology and market-networks to begin solving this problem. In our vision of the future, existing organizations (i.e. bar associations, law firms, non-profit organizations, legal incubators, etc) will continue to be the main providers of trusted legal services. But to do so, they need to be equipped with the best technology and processes that Silicon Valley has to offer.”

They go on to define “Market-Networks” and why the are essential to legal. They compare Airbnb v. Hilton Hotel and other examples to explain their view.

Check it out here.

P.S. Gunst is also co-founder of LawGives and was selected in 2015 as one fo the Forbes 30 under 30 for Law & Policy.