Knight reveals the firm’s secret operating model: cultivating elite law graduates, ranking them, and offering partner plans with stock incentives. However, the true mechanism involves manufacturing “mistakes” for senior partners to maintain control and ensure their dependence on the board, effectively turning them into profit-generating “cows” for the firm.
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After that, Knight took out an Apple laptop from his bag, opened it, and said to Jimmy:
“Since you are one of us, I might as well tell you our operating model.
We provide the best law graduates in the United States every year. We provide many internship opportunities to select potential talents from them to be recruited into our law firm.
When talent comes in, we will carry out internal rankings. level., level B, level C and level D, and the acceptance range values are selected in two levels, namely level S and level A;”
“It often takes five to ten years for a lawyer to accumulate experience.
If he performs well, we will give him a promotion and increase his salary.
If it performs very well, we will include it in the partner plan;”
“As you know very well, the partner plan is a salary and option incentive plan.
As long as you enter the partner plan, you will be a pseudo partner.
We will give him a higher salary and certain options.
These Options will be gradually redeemed and exercised over five to ten years to commit them to remaining at Ellis and creating greater residual value for us.”
Jimmy held out his hand to interrupt: “It’s all cliche. What I want to know most is how the black material section is operated, and what kind of black material you have.”