Legal Tech StartUp Focus Podcast
The Legal Tech StartUp Focus Podcast covers the startups that develop and sell legal tech products and services. Through interviews with legal tech startup founders, investors, customers and others with an interest in this startup sector, the podcast's host, Charlie Uniman, and his guests will discuss such topics as startup management and startup life, startup investing, marketing and sales, pricing and revenue models and the factors that affect how customers purchase legal tech. In short, the Legal Tech Startup Focus Podcast will focus on just what it takes for legal tech startups to succeed.
Legal Tech StartUp Focus Podcast
Episode 57 of the Legal Tech StartUp Focus Podcast -- An interview with Tanguy Chau, co-founder & CEO of Paxton and Michael Ulin, co-founder and CTO of Paxton
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Charlie Uniman
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Episode 57
- Tanguy's and Mike's Respective Backgrounds and Path into Legal Tech:
- Tanguy is an engineer with advanced degrees (including an MBA) from MIT and experience in venture capital, notably early-stage investing in legal tech startups (one of such startups being Ironclad)
- Mike has a background that includes working at the Federal Reserve, McKinsey, and co-founding a company that applied AI in the insurance space. Mike’s experience with AI and legal/regulatory challenges contributed to starting Paxton.
- Paxton's Recent Award: Celebrated being one of the winners at the 2024 ABA Tech Show Startup Alley
- Paxton's Technology and Approach:
- Focuses on developing industry-specific, application-specific, and firm-specific legal language models for greater accuracy, response speed, and security.
- The data for model training includes public domain legal documents, emphasizing legal-specific training over general-purpose models.
- Paxton enables customization for firms by allowing connections to internal knowledge sources without training the model on client-specific data unless requested.
- Applications of Paxton:
- Legal Research: Provides access to laws, regulations, and court rulings across all states and federal levels.
- Document Drafting: Uses a vast corpus of legal documents to assist in drafting accurate first drafts of legal documents.
- Document Analysis: Offers document analysis and Q&A capabilities for large volumes of documents, ensuring data privacy and governance for firms.
- Use Case for Training Young Lawyers: Paxton aids in training younger lawyers by allowing them to ask questions and practice without fear of judgment, enhancing their learning and confidence.
- Future Roadmap: Paxton plans to develop more advanced language models, connect to more data sources, and execute multi-step workflows for synthesized answers from various data sources.
- Advice for Legal Tech Startups: Tanguy and Mike emphasize the importance of being customer-centric, seeking feedback, and iterating based on user input to improve and refine the product.