OpenAI's new legal-AI feature at Dev Day wiped out niche legal startups overnight. Kirkland & Ellis stock dropped 20% in a day. Speaker A estimates each Dev Day kills about 1,000 startups, pushing CEOs to adapt fast.
I don't know if you've heard the saying that 1,000 startups go out of business with every Dev Day from OpenAI, which is true, right? When they launched this new feature about how to have, let's say, legal feedback, or it has a better legal library, all those startups that were creating legal AI functionality, they're done. I saw that.
Like, even the big guys like Kirk and Ellison, Kirkland and Ellis, like, like lost 20% of their value in a day. I think it's recovered, right? Yeah. But these things are real.
