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LegalHub: theory: Difference between revisions
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[[File:Hub.jpg|thumb|[[CeleryHub]], as we shall call it, yesterday]] | [[File:Hub.jpg|thumb|center|450px|[[CeleryHub]], as we shall call it, yesterday]]}} | ||
}}So | The reg tech proposition: automation, network, disintermediation is obvious. So why doesn’t it work, and what can we do about it? | ||
First, state the manifest failings of [[reg tech]] as we see it: there are two, but they may boil down to the same thing: ''[[rent-seeking]]'' and ''[[iatrogenics]]''. | |||
==The problem== | |||
===[[Rent-seeking]]=== | ===[[Rent-seeking]]=== | ||
'''''[[Rent-seeking]]''''' in that no [[reg tech]] provider has figured out a business model for how to be suitably paid, other than by extracting [[rent]]. This they commonly do by reference to the ''value'' their product provides, which they equate to the ''total cost of labour and infrastructure it saves''. | '''''[[Rent-seeking]]''''' in that no [[reg tech]] provider has figured out a business model for how to be suitably paid, other than by extracting [[rent]]. This they commonly do by reference to the ''value'' their product provides, which they equate to the ''total cost of labour and infrastructure it saves''. | ||
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As long as [[cross default]] seems like a competitive advantage; as long as we think our boilerplate is some kind of proprietary technology, we consign ourselves to a permanent arms race ''with our own shadows''. | As long as [[cross default]] seems like a competitive advantage; as long as we think our boilerplate is some kind of proprietary technology, we consign ourselves to a permanent arms race ''with our own shadows''. | ||
{{Tablebottom}} | {{Tablebottom}} | ||
== | ==The solution== | ||
So where does this leave us? | So where does this leave us? | ||
===[[Satisfaction]] is unsatisfactory=== | |||
[[Mick Jagger]] and [[Keith Richards]] composed [[Satisfaction]] in 15 minutes whilst sitting by a pool in Florida. They are still, 55 years later, reaping colossal dividends from that inspired quarter hour. Fair play to them: this may be what the law prescribes, but it is bad law and it is a horrible model for [[reg tech]]. | [[Mick Jagger]] and [[Keith Richards]] composed [[Satisfaction]] in 15 minutes whilst sitting by a pool in Florida. They are still, 55 years later, reaping colossal dividends from that inspired quarter hour. Fair play to them: this may be what the law prescribes, but it is bad law and it is a horrible model for [[reg tech]]. | ||
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Staying with this process is not a zero-cost option. This infrastructure is ''monstrously'' expensive. Every year, it costs tens or hundreds of millions of dollars. ''For each firm''. ''[[Contract negotiation]] is not a profit centre for anyone but its practitioners''. | Staying with this process is not a zero-cost option. This infrastructure is ''monstrously'' expensive. Every year, it costs tens or hundreds of millions of dollars. ''For each firm''. ''[[Contract negotiation]] is not a profit centre for anyone but its practitioners''. | ||
== | ==The pitch== | ||
Spend good money ''here'', instead of throwing it after bad money you’ve spent ''there''. Design an open source, open-architecture system with [[feedback loop]]s that push us ''towards'' a simplified, standardised centre, rather than away from it. Emphasise transparency and commonality, not proprietary technology. In essence, build a [https://github.com/ GitHub] for legal terms. | Spend good money ''here'', instead of throwing it after bad money you’ve spent ''there''. Design an open source, open-architecture system with [[feedback loop]]s that push us ''towards'' a simplified, standardised centre, rather than away from it. Emphasise transparency and commonality, not proprietary technology. In essence, build a [https://github.com/ GitHub] for legal terms. | ||
*'''A centralised hub''' with free, unlimited access for everyone whether as a user or a contributor. | *'''A centralised hub''' with free, unlimited access for everyone whether as a user or a contributor. | ||