The End of the Day Show: Quitting, AI Deals, and Legal Tech Disruption

Hey there,

Yesterday, I decided to launch a new daily show "The End of the Day Show.”

Yesterday's episode was packed with insights on quitting, big tech acquisitions, and the booming legal tech industry. Let's dive in!

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The Art of Quitting: Lessons from Politics and Startups

"Quitting is a very, very interesting subject right now," and boy, isn't that the truth? We kicked off the show discussing Joe Biden's decision to step down and how it relates to the startup world.

Key takeaways:

• Quitting can often be harder than starting or executing

• Timing is everything, in politics and business

• For startups, knowing when to quit can be crucial for founders, investors, and employees

As a founder myself, I shared some personal reflections on the challenges of knowing when to "land the plane" - whether that means an exit, shutdown, or pivoting to a new model.

The Wiz Saga: A $23 Billion "Almost" Deal?

Remember Wiz? The security company that I first learned about at an event put on by Morgan Stanley in 2022 where all the rave was their innovative onboarding process with the Fortune 500 investment bank? Well, they're back in the news, and it's a doozy. They allegedly turned down a $23 billion offer from Google.

• Rumors swirled about a potential $23 billion acquisition by Google

• The deal appears to have been strategically "leaked" by Wiz

• This move positions Wiz for a potential high-value funding round or IPO

We dissected how companies like Wiz, Figma, and Plaid have used acquisition talks to boost their valuations and leverage in the market. It's a fascinating peek into the chess game of high-stakes tech deals.

Harvey AI: The Legal Tech Disruptor Raising Eyebrows (and Funds)

Last but not least, we dove into the world of legal tech, focusing on the controversial darling, Harvey AI.

• Harvey AI just raised $100 million at a $1.5 billion valuation

• They've tripled their ARR since December, implying a $30 million run rate

• The legal industry's skepticism vs. VC enthusiasm creates an interesting dynamic

We compared Harvey's journey to other legal tech players like Casetext (acquired for $650 million) and Clio (recently raised $900 million at a $3 billion valuation).

Food for Thought

As we navigate this ever-changing tech landscape, here are some questions to ponder:

1. In your experience, what are the signs that it's time to quit or pivot a project?

2. How do you think strategic "leaks" like Wiz's affect the tech ecosystem?

3. Are you bullish on AI's potential to disrupt traditional industries like law? Why or why not?

That's all for today's roundup! Remember, in the world of tech and startups, the only constant is change. Stay curious, stay adaptable, and never stop learning.

Until next time,

Matt Parker

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