You might think, if we could survive the chasm we probably cant, but lets pretend then wed eventually be back on track toward steady growth and decent revenues. When was the last time you rented a movie from Netflix? Not a tv series, not a six-year-old flick, but a current movie? Unless you want to watch the documentary. Blackfish 3, youre out of luck. Hunger Games: Catching Fire.
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Consider the next chart. I assumed 2006 was a transition year in which Blockbuster began closing stores and incorporating the netflix model. Um, whos still working for them by 2007? All the good employees have undoubtedly left. So revenue may be climbing back, slowly, but at what cost? Can any firm survive this? Even summary if you believe they cant survive on the current model for the future, who could do something like this today? Do we understand the future? I have extended the graph to bring the chart up to the present. Hmm, its getting depletion better.
Dewey and Howrey werent even close to this situation, and we know how well that worked out. Change models, now: ryan suggests and hes not alone that law firms should adopt the new proposal model before things get out of hand. Leave aside the question of what exactly that new model is, since no one seems to know. We hear from Richard Susskind and Adam Smith Esq., to offer two very well known and respected names, that the current model is broken and that if it doesnt change, firms will be in trouble. Im not saying I disagree, but to what model should they go? I suppose if any of us knew for certain, wed sell the magic snake oil and retire to tahiti. 2, but back to BlockFlix.
Note that until about 2009 the total revenue remained constant. Lets say blockbuster had somehow incorporated the netflix model added it rather than moving. Does that suggest they should have become BlockFlix 1, if they could have? The amount of revenue theyd have added wasnt all that much, relative the to where they already were. And some customers went to netflix because they hated Blockbuster, so its likely that some of that combined revenue wouldnt have been available to Blockbuster anyway. Now look at 2010. BlockFlixs revenue went off a cliff. Can you imagine what would happen at a firm where revenues declined by almost two-thirds in a year?
I commented on Three geeks briefly, but I want to raise a major point here, with more detail than I can put into a comment. What can firms learn from this model? More importantly, is there anything that firms can actually do based on what they learn from this model? The answer, i fear, is not much, other than keep their eyes open for possible disruption. Consider three basic facts about the graph and the situation. Total revenue: Instead of comparing the numbers, lets add them. Well make the simplifying assumption that together Blockbuster and Netflix captured all revenue in this market. They didnt, but its close enough for what were considering. No matter what law firms do, for example, there will for the foreseeable future exist solos and small-town practitioners that capture revenue that wont be available to bigLaw (or even MediumLaw).
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You will without a doubt know the connection with the writers if the entirely free paper will be submitted for your requirements personally. Well help you fill out the assignment yet complex since youve currently known. The goal of an abstract is always to supply the chance to evaluate the significance of the lengthier work to subscribers. Secondly, youll need to indicate feminism the manner in which youll examine the subject of this dissertation. Very well, you might be reluctant to purchase an essay that youre uncertain of paper you will get from its sort. The Three geeks blog had an interesting post the other day about what the disruption of Blockbuster by netflix might mean to the large-law-firm model.
Ryan McCleads thesis was that Blockbuster failed by not responding earlier to the netflix model, and that by analogy large law firms risk similar disruption from new-law models. Heres the netflix/Blockbuster revenue chart they used. Blockbuster had lots of stores and rented physical videos. They made a ton of money on late fees until the start of 2005. Netflix was originally in the business of physical disc distribution, but they were set up from the start to easily transition to streaming video.
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You will always work closely with our lawyers and receive regular feedback. You will also have the opportunity to participate in the various training courses offered by the firm and other internal arrangements. The internship usually hibernation lasts around 8-10 weeks, followed by a period in which you write your thesis, but other arrangements can be discussed. Your thesis, as a thesis intern, one of the firm's lawyers will act as your supervisor and you yourself will establish contact with a thesis supervisor in accordance with the rules of the university. The subject of your thesis does not need to be clearly defined before you start the internship. The most important thing is that you write about a subject that interests you, but naturally you are welcome to discuss this with. We can give you ideas as to which commercial law issues are of major relevance in practice or of fundamental importance, and therefore may be of interest to write about.
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