In courtrooms across America, investors are making money through litigation financing. The process allows investors to cover the cost of a lawsuit in exchange for a share of the financial settlement.

If this process sounds familiar to you, it’s probably because it’s similar to what billionaire Peter Thiel did when he secretly funded a lawsuit from Hulk Hogan against Gawker Media. It’s still unclear whether Thiel benefited financially from $140 million judgement against Gawker, but the impact of his attack is evident.

Now, a new startup wants to get more people in on the action. Two Harvard undergraduates have created a service called Legalist that uses what they call “data-backed litigation financing,” analyzing civil lawsuits with an algorithm to predict case outcomes and determine which civil lawsuits are worth investing in.

Read more: A Startup Backed By Peter Thiel Makes Bankrolling Civil Lawsuits Easy

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Published by Mike Rawson

Mike Rawson has recently re-awoken a long-standing interest in robots and our automated future. He lives in London with a single android - a temperamental vacuum cleaner - but is looking forward to getting more cyborgs soon.

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A Startup Backed By Peter Thiel Makes Bankrolling Civil Lawsuits Easy…

by Mike Rawson time to read: 1 min
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