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“The Hacker Way” – What the E-Discovery Industry Can Learn From Facebook’s Management Ethic
By Ralph Losey
Facebook’s regulatory filing for its initial public stock offering included a letter to potential investors by 27-year-old billionaire Mark Zuckerberg. The letter describes the culture and approach to management that he follows as CEO of Facebook. Zuckerberg calls it the Hacker Way. Mark did not invent this culture. In a way, itinvented him. It molded him and made him and Facebook what they are today. This letter reveals the secrets of Mark’s success and establishes him as the current child prodigy of the Hacker Way.
Too bad most of the CEOs in the e-discovery industry have not read the letter, much less understand how Facebook operates. They are clueless about the management ethic it takes to run a high-tech company.
An editorial in Law Technology News explains why I think most of the CEOs in the e-discovery software industry are just empty suits. They do not understand modern software culture. They think the Hacker Wayis a security threat. They are incapable of creating insanely great software. They cannot lead with the kind of inspired genius that the legal profession now desperately needs from its software vendors to survive the data deluge. From what I have seen, most of the pointy-haired management types that now run e-discovery software companies should be thrown out. They should be replaced with Hacker-savvy management before their once proud companies go the way of the Blackberry.
In today’s world of electronically stored information (“ESI”), it is increasingly costly to preserve, identify, and collect data for discovery – let alone analyze, review, and create a production. According to a 2012 e-discovery costs study by the RAND institute, e-discovery expenses are adding up. For every dollar spent on ESI production, collection consumes $.08, processing consumes $.19, and document review consumes $.73. Don’t miss a new infographic created by Kroll Ontrack: 7 Tips to Cut E-discovery Costs.