LLMs will likely supercharge the amount of legalese.
- LLMs will likely supercharge the amount of legalese.
- Whoever uses the most well-applied legalese gets an edge over their counterparty.
- Before, only lawyers could write and interpret legalese.
- That meant we landed on an equilibrium where the two sides of a contract balanced out how much legalese to use.
- Now LLMs can help interpret or create legalese, even for non-lawyers.
- The one-ply implication of this is more people can deploy and navigate legalese.
- But the multi-ply implication might be an expansion of legalese.
- The benefit doesn't go to one party; it goes to all parties[ra].
- That raises the equilibrium point: a new equilibrium of misery.
- A similar phenomena to why tariffs lead to price increases, or why when a highway gets a new lane the average commute doesn't decrease because people move farther out.
- Now it means that anyone who doesn't use LLMs in that domain can't possibly keep up.