Colin McCarthy 29:18 So, you know, I did the newsletter, I experienced it about two years ago. And I had, I had a lot of traction on it, but I felt like I couldn`t tell a big enough story. I felt good, now I put too many sponsors on it. I can`t get enough. I`m just going to get links to magazines, you know, to articles. But what I really wanted to do was rinse it off on about 47 pages, small enough for people to digest this and you know that if there`s something important to them, they`ll read it. I know it goes back and goes against the genre, Hey, they`re here, but I still love it, right? I just think you know when I want to go the other way when everyone goes one way. So I taught as with a magazine, I teamed up with your legal business community, he came in as the publishing director, and we just found the best way to tell a story, to people every quarter, and as much information as possible is still there. And we, we really want to focus on getting voices that you know, that people respect number one, from, you know, long before I get on stage, and then I really want to activate the legal community, that I`m part of the whole, let`s support each other, share your use cases. with which we can profile you, well, how do you see the world and can you just distill it in one place, ship it every month, like, there`s no ego, it`s, you know, I didn`t want to put it behind a paywall that I really wanted to distribute. So we, we have a goal of 80,000 getting this magazine, and author or Force magazine, you know, when we went up last month, we had 10,000 readers in the first two hours.
Wow, that`s it for six minutes or more. So for me, it`s like, wow, we have the opportunity here, you know, I don`t know how many people that readership is? I don`t know if even the New York Times has 10,000 people reading their magazines again. Greg Lambert 35:22 Yes. And we haven`t covered much of all the other things that these legal operators do, including an innovation center, but it has its own technology directory, a list of jobs that exist. So, you know, how, as he said, the market is hot right now. I guess there`s a lot going on. Colin McCarthy 10:05 Yes, I think the requirements are, they are generally similar. But if you`re talking about U.S.-based companies with operations, like, you know, they have, how, you know, Mia`s headquarters in Dublin, London or Paris, to general counsel set the tone of the United States, right? It`s just another way of thinking in the business environment outside the United States.
This is where the tone is set. So there are different challenges in legal positions. All right. But you know, a lot of things are the same, it`s true. You deal with external lawyers, spend when introducing various technologies as it is an entire global resource. As I saw a company called Global Foundries that I developed, like, we have offices in Dresden, you know, Singapore, Andy and other countries like, but they`ve been our main centers for me, an AIPAC, and they generally come from the same side, which is what the United States is, if you mean dictate, or, you know, or the layout. Colin McCarthy 19:05 So I want to comment on contract management. It`s my wheelhouse, isn`t it. But I would say, you know, one of the things we`ve seen, we`ve seen how contract management that we`ve seen, like for companies, you know, have become the unicorns of CLM over the last 10 years, there`s only 50% of companies left that use contract management. So there is a lot of room and expansion for the current status quo. I`m at the point where I`m a little bored because I hear about it all the time. Right? And I`m always looking for something new.
And you know, I think where a lot of these companies will win is with similar workflow automations. I feel like you know, low-code without code, you know, Washington now makes sense as if you`re looking, you know, a company that I recently enjoyed with all of its different use cases that I think could fit into any law firm. Our in-house team and many of these workflow tools like otter logic, you not only know how to name them, but check the box more clearly. Joseph is another company that does wonderful things, like thinking smart for me through technology, these five people who are doing amazing work. It`s simple. But I imagine, you know, if you plug that into your process management systems into your contract lifecycle management system, you`re going to solve areas that haven`t even been attacked, in legal areas and areas like compliance, where there`s one, I think there could be one like Legal Technology for Compliance.