Elon Musk recently brought renewed attention to America’s broken legal system, calling out a tweet that highlighted how billboard lawyers cost the average American household $4,200 every year. Patrick Collison, CEO of the financial-tech company Stripe, wondered why billboard lawyers spend so much on advertising, and Musk responded: “Not good.”
But behind the flashy billboards is a broken system that enriches billboard lawyers and leaves victims in debt. PACT’s latest film exposes the shocking truth behind billboard lawyers, and how they inflate medical bills to increase settlement costs through a referral mill of doctors. These extra costs caused by excessive litigation then trickle down to everyday consumers, costing families thousands of dollars every year, as mentioned in the Collison’s tweet.
Musk is no stranger to frivolous lawsuits. A lone Tesla shareholder filed a lawsuit against Musk in 2018 regarding his compensation package. The shareholders’ lawyers stand to make $345 million in legal fees, a rate of $18,000 per hour. This staggering statistic highlights how greedy and inefficient our legal system is, and underscores the need for reform. These fees aren’t paid solely by Musk or by Tesla, but the American consumers.
Musk is right: this is really “not good”.