A great turn of phrase whose origin I can’t remember: “high frequency lawyering.” Every bespoke contract is a huge, huge transaction cost. Once they’re replaced with standardized interfaces (which may be contracts), that enables you to treat the underlying as a primitive.
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Think it’s actually a incloudcounsel doing the high frequency lawyering for angellist. Really impressive company.
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"Gang billing" is another of my newly learned, favorite lawyer terms (needlessly adding the number of lawyers who get on a particular call so they can all bill for it.
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Love it. also makes me think of
@cstross book AccellerandoThanks. Twitter will use this to make your timeline better. UndoUndo
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