ℹ️ Overview
We’re excited to share an interview with Rob Broderick (CLS'14), a partner in WSGR’s NYC office. Rob shared with us his background, the relationship between lawyers and founders, his thoughts on AI, and tips for first time founders (“There’s nothing more expensive than a cheap lawyer!”). We’re very grateful for his support and advice.
🗞️ Interview
Tell us a bit about yourself.
I’m a corporate partner at Wilson Sonsini in New York and Columbia Law School class of 2015. I primarily help founders raise capital, but I also serve as an outside general counsel to the companies that we work with. That means I negotiate everything from Series Seed deals to IPOs, but I also provide strategic guidance on day-to-day matters. Founders call me to advise on structuring employee equity, protecting their IP, responding to litigation and a host of other matters that startups run into.
And what originally interested you in startups + venture capital and what is your focus now at Wilson Sonsini?
It's a great question - I actually didn't start my career doing this. I started my career at a large New York law firm doing public company M&A and capital markets work. That experience sharpened my skills as a lawyer, but I wanted to work with entrepreneurs and be closer to the company building process. It's been incredibly rewarding for me to help founders take their ideas from zero to one. I play more of a strategic role now and enjoy the long-term relationships that I’ve cultivated with all of the inspiring entrepreneurs I represent.
For those in our audience who may not be familiar with the world of startups, could you outline how you support or how legal teams in general support founders throughout their journey from company creation to exit?
We provide the most value to our clients negotiating capital raises, but our relationship really starts when the financing closes. That’s when the building really happens - the financing is just a means to that end.
We have incredible pattern recognition when it comes to scaling businesses - I've incorporated 12 companies that have now scaled to unicorn valuations. In addition to the day-to-day matters I spoke about a few minutes ago, we also help founders find and vet potential key hires, investors and directors on their Board. Our value add is a lot more than just legal advice.
Founders really think about us as extensions of their team rather than an external third party. For example, we primarily use WhatsApp and Slack to communicate - just like a founder would communicate with his or her employees. That allows us to respond quickly and with as little friction as possible - getting clear, actionable advice with speed is critical for hypergrowth companies.
What are some of the biggest questions facing tech law at the moment?
AI is the hot topic of the day, certainly. There are an incredible number of really exciting companies being built in this space. On the legal side, we’re thinking about ways that AI is going to impact our role as well. At firms across the country, clients are paying relatively junior associates hundreds of dollars an hour for work that can and should be automated. Particularly with startups that need to preserve cash, lawyers need to be optimizing for efficiency just like our clients. I think the law firms that are able to implement AI most effectively are ultimately going to be the most successful.
What would be your biggest piece of legal and or life advice for first time founders in the Columbia in Tech community?
I know this is going to sound self-serving - but choose your advisors carefully. That goes for your lawyers, but also your investors and, perhaps most importantly, directors on your Board. Once someone is on your cap table or your Board, they’re typically with you for good. You should be confident that they’re going to deliver on their promises to add value before you take their money.
When it comes to legal advisors, there’s an old adage that there’s nothing more expensive than a cheap lawyer. Getting the legal work done properly the first time is going to save you a lot of money and stress down the road. Particularly when it comes to a founder’s equity, you don’t want to cut any corners that could come back to bite you in the long run.