You Too Can Invest In Lawsuits. But Not Quite Like Peter Thiel
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Unveiled last week at a startup launch day in Silicon Valley, Legalist is an online service that invests in lawsuits it has no connection to. Other startups go even further, letting individuals put in their own money to invest in lawsuits. Provided you meet certain requirements, you too can help fund a suit and get a cut of the winnings—if there are winnings to be had. That seems straightforward enough, but the tech press went a bit berserk over the arrival of this new service. And that’s because of Gawker.
The news and gossip site quit publishing stories last week, after losing a high-profile invasion-of-privacy suit bankrolled by billionaire Silicon Valley venture capitalist Peter Thiel. If Thiel could take down Gawker as a personal vendetta, the voices said, couldn’t Legalist do much the same?
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