#BCTechSummit Week: Q+A with Technology Lawyer, Michael Macaulay
In line with the 2019 #BCTECHSummit, we interviewed Michael Macaulay, a Partner in our Technology Law Group. We asked Michael a series of questions about emerging technologies and how it affects the practice of law.
To learn more about his top three tips for a start-up tech company, the impact of augmented/mixed reality and his favourite current tech gadget, read the full interview immediately below:
Q: What technology are you most interested in?
A: Augmented / Mixed Reality. This technology is still very much in its early stages, but has the power to completely change the way we interact with the world around us. Once the cost and size of AR/MR hardware both come down, I believe this presents another seismic shift in personal computing similar to the adoption of smart phones and B.C. and Canada are on the cutting-edge of this change.
Q: How do you think the new emerging technologies. i.e. artificial intelligence, quantum technology, etc. will change the practice of law?
A: Emerging technologies such as artificial intelligence / machine learning and quantum computing have the power to completely change the practice of law by increasing the speed of time consuming tasks such as due diligence, document review and the preparation of more standardized documents.
Q: What are your top three tips for a start-up tech company looking to establish itself in the tech industry?
1. Know your company. If you are a founder, you need to know everything about your business from your cap table, to your key metrics, your contracts, your intellectual property and your competitive landscape. You need to know this all intimately.
2. Take a strategic and contextualized approach to financing your venture. Seek sources of capital that make sense for your business at your current stage of growth, taking into account your future financing, growth and exit plans.
3. Hire the right people. The success of your venture is highly dependent on your team - this includes your employees, consultants and advisers. Everyone needs to be committed to the vision and looking to help create value in the business.
Q: What is your favourite tech gadget?
A: My iPad Pro. It allows me to have a portable office when I am travelling or working remotely as I can quickly review and mark-up documents without the need for a printer and scanner and can bring volumes of documents with me without the need to carry around a stack of paper, but also has the full functionality of a laptop if I need to login to remote access.