2021. It’s not farewell. Ransomware, Unicorns, Profits, and Work from Home

While we may be happy to wave au revoir to 2021, one midnight does not change world circumstances. I think that the following four trends that are not likely to go away in 2022.

  1. Our most popular blog post in 2021, by a factor of 10, was this post by our CEO, Seth Hallem, on the REvil vulnerability and the ensuing ransomware. Many IT and security people were kept busy over the July 4th weekend with the Kaseya VSA exploit. More law firms and more businesses overall were hit with ransomware than the public is aware of. At the risk of stating the obvious, this will only grow going forward.
  2. Unicorns, IPOs, M & A, and healthy funding rounds were undefeated by the pandemic. We covered the capital infusion in #legaltech here.
  3. Early in 2021, we learned from Thomson Reuters that Big and Mid sized Law had been very profitable in pandemic burdened 2020. Work from home meant more billable hours. Legal IT departments got attorney up and running from home in quite literally a weekend. In early 2021 the question was, would work from home end as quickly as it had begun? The profits lead one to conclude that it would not. The Delta and Omicron variants in 2021 ensured no quick ending.
  4. Finally, in the fall of 2021 companies such as Apple and Big Law firms were gearing up for early January or February 2022 “return to the office” dates. Then Omicron swept through the globe. Now all bets are off for when, and if, companies will return to the office.

Some good, some not so good. Overall, we can be grateful for the healthy demand for legal services and that so much of legal work can be done remotely.

I wish you the best for 2022!

-Maureen

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