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What a folly! When did anyone vote to demolish private legal practice? Typically a junior solicitor is told that he has to bill three times his salary to pay for overheads and partners' profits. These venture capitalists seem to think there's some spare flesh on the bones of law practices. Get rid of the partners? Take the profit for investors who are not lawyers. Hire solicitors who will be perpetual employees of venture capitalists within their own profession and take away the opportunity of profiting from their own careers. Why not do the same to doctors? I suppose because the public and politicians see the medical profession as a skilled profession whereas legal work is seen as something which can be broken down into constituent elements with each stage in a process being performed by unqualified staff plucked from the ranks of high-volume call centre operations.
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