Legalist, one of the startups that took part in this year’s Y Combinator summer batch, has a simple business model: It invests in civil lawsuits using a proprietary algorithm that gauges how likely it is the lawsuit will be successful.
The startup’s founders, Harvard undergrads Eva Shang and Christian Haigh, told the Silicon Valley Business Journal that it wouldn’t finance lawsuits against individuals, focusing instead on small businesses.
More interesting, however, is that Shang won a $100,000 Thiel fellowship this year. So, in essence, Peter Thiel—who has backed multiple civil lawsuits against Gawker because he disagreed with its practices—has invested in a startup that makes the process of investing in civil lawsuits even easier and more appealing.
Makes you think, huh.CGW