A French court ordered eBay to pay Louis Vuitton and other makers of luxury bags €38.6 (variously reported as $60.8 and $63.2 million) in damages for sales of counterfeit handbags on the website, the largest damage award eBay has incurred in connection with its quality-assurance practices. The court ruled eBay did not employ adequate measures to prevent the sale of fake bags. eBay announced it will appeal the decision. The New York Times reports that the decision “is unlikely to have a drastic effect on the way eBay conducts business because it has already made changes to police its site for counterfeit goods.” eBay noted that it employs over 2,000 people to deal with sales of counterfeit goods and that it cuts of 95% of fraudulent sales before they occur. Of course with millions of ongoing active sales at any moment, there remains considerable potential for fraud.
I’ve posted before that prospective law students must honestly consider their prospects for success in law school because, unless they attend one of the very top-ranked schools, their job opportunities will be limited if they are not ranked at the top of their classes. The Wall Street Journal Law Blog recently interviewed “law school naysayer” Kirsten Wolf, a 32-year old BU law graduate. Wolf went to law school a few years out of college believing that she would obtain a marketable skill that would justify the cost of borrowing to pay tuition. In the fall of her second year, when she realized her B+ average was not good enough to land her a summer associate position with a large firm, she began to question her decision. Already $45,000 in debt she stayed, graduated in 2002, passed the Massachusetts bar, and found no law jobs waiting. She went back to the company she worked for before law school and then eventually moved to New York where she landed a job she enjoys, as an office manager for a literary agency. She is paying her $87,000 student loan debt over 30 years–which means she’ll still be paying for law school as she approaches her 60th birthday. In Wolf’s words:
I’m on a one-woman mission to talk people out of law school. Lots of people go to law school as a default. They don’t know what else to do, like I did. It seems like a good idea. People say a law degree will always be worth something even if you don’t practice. But they don’t consider what that debt is going to look like after law school. It affects my life in every way. And the jobs that you think are going to be there won’t necessarily be there at all. Most people I know that are practicing attorneys don’t make the kind of money they think lawyers make. They’re making $40,000 a year, not $160,000. Plus, you’re going to be struggling to do something you might not even enjoy. A few people have a calling to be a lawyer, but most don’t.
Legal Blog Watch Alert picked up Wolf’s story and also reported about a lawyer who auctioned his law school diploma on eBay. The post notes the lack of discussion on academic law blogs about whether to attend law school.
For years I have advised students that exceptional performance in law school is more important than where you go. Wolf’s story bears this out. She must have been a good student and gotten good LSAT scores–BU law would not have admitted her otherwise–but that doesn’t put you at the top of your class. Even at BU, which is always ranked as one of the top 25 or 30 law schools in the country, a B+, top-half of the class performance will not open the most lucrative doors. I’m seeing this again with a friend who is currently in her second year at BU. She is quite smart, works exceptionally hard, is one of the most personable and engaging people I know, and yet has been unable to crack into the Big Law summer associate track. And if you aren’t on that track after your second year of law school, your earnings horizon changes dramatically. Yet had Wolf gone to a lower-ranked school and finished at the top of her class–say in the top 10 or 15 places, or top 3.00%–odds are that she could have obtained a high-paying job. Finishing in the top 3% of one’s law school class does not happen without brains and lots of hard work. That’s why those at the top of their class will still merit a look from the most selective employers, because the employers know what it takes to get there.
I’ve always taken a laissez-faire approach with prospective law students. I’ll be honest about the risks and pitfalls of a legal career and then support the student’s decision to attend law school notwithstanding my warnings. I’m now rethinking my approach. Should I recommend a student who has not shown the academic ability to finish in the top five percent of his or her law school class?
The Software Information and Industry Association (SIIA) announced the Ten Most Significant eCommerce Developments of the Past Decade. They are:
- Google (Sept. 1998)
- Broadband Penetration of US Internet Users Reaches 50% (June 2004)
- eBay Auctions (Launched Sept. 1997)
- Amazon.com (IPO May 1997)
- Google Ad Words (2000)
- Open Standards (HTML 4.0 released – 1997)
- Wi-Fi (802.11 launched – 1997)
- User-Generated Content (YouTube 2005)
- iTunes (2001)
- BlackBerry (1999)
I’ve used, utilized, or relied on all in the past month, so I can’t argue much with the list. (At first glance I omitted Blackberry from this statement until I remembered that Randy did Google searches on his Blackberry to settle disputes during the bike trip.) What I’d like to see at #11: standardized spelling for
eCommerce e-Commerce E-Commerce.