Apple released a new set of iPhones, the founders of Instagram have leftFacebook after launching the app 8 years ago and being acquired 6 years ago for $1 billion, and Bill Cosby will spend the next 3–10 years in state prison.
We hope your week is going better than that.
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Airbnb has petitioned the SEC to allow them to give hosts company equity. Currently, Rule 701 of the Securities Act allows private companies to award equity only to employees and investors. Airbnb wants to expand eligibility to give independent contractors equity.
“Airbnb believes that twenty-first century companies are most successful when the interests of all stakeholders are aligned.”
- Excerpt from Airbnb statement to the SEC
Airbnb isn’t the first gig economy company to consider this. In 2017, Uber metwith SEC numerous times to secure equity for its drivers.
Avvo, acquired but not forgotten. In an interview last week, former CEO Mark Britton stated, “my greatest disappointment hands down is that we did not make Avvo Legal Services succeed. It was so important for the profession, and the profession just whiffed.”
This interview comes on the heels of Avvo reaching a settlement with the New York Attorney General’s Office regarding their online legal directory.
Artificial intelligence had a big week, with multiple vendors announcing new products (on the same day!). Westlaw (Thomson Reuters) announced Westlaw Edge, its next generation legal research platform. LexisNexis launched Lexis Analytics, focussing on transactional, regulatory, and litigation analytics. Legal research platform vLex introduced the beta version of Vincent, an AI-powered legal research assistant that analyzes legal documents, similar to CARA from Casetext, Clerk from Judicata, and EVAfrom ROSS Intelligence
Fear not! Legal jobs are secure for now (but other industries will be more affected)
LabCoNYC is hiring a Blockchain Data Licensing Attorney. The position is in New York City or Remote, and pays $75,000 — $85,000.
Corelight is hiring a Corporate Counsel. The company is an early stage security startup based in San Francisco and Columbus, Ohio. The position pays $150,000 — $225,000.
Electronic Arts is hiring a Senior Legal Counsel for its Competitive Gaming Division. The position is in Redwood City and requires 10 or more years of relevant experience.
Looking for an attorney in another state? Need co-counsel for a client? Feel free to submit your referral here.