Ed.
note:
Welcome
to
our
daily
feature,
Quote
of
the
Day.
Any
firm
that
is
New
York-centric
and
under
$1
billion
in
revenue
is
exposed.
You
are
already
seeing
some
…
larger
firms,
like
Latham,
like
Kirkland,
like
Paul
Weiss
grabbing
talent.
Those
smaller
firms
are
exposed
to
what
is
happening
in
the
industry
right
now:
Profitability
at
scale.
—
A
legal
industry
insider,
who
spoke
anonymously
to
the
American
Lawyer
in
order
to
speak
freely,
commenting
on
what
could
happen
to
smaller
New
York
firms
if
they
fail
to
strike
while
the
iron
is
hot
and
consider
a
merger,
especially
if
their
profitability
has
tapered
out.
Staci
Zaretsky is
a
senior
editor
at
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to
email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.