Private Equity Is Already Here. Now What Do You Do About It?

Posted on Feb 18, 2026 by Jessica Gulley

The One Where Gyi and Conrad Rock The Boat

February 11, 2026


This one got ranty. We warned you.

Here’s what’s on deck: lawyers finally finding their voice on the rule of law, a public agency brawl that turned into a lesson in how to own your stance (and then fumble it), and what law firms need to be doing right now as private equity tears up the industry playbook.

Lawyers Are Finding Their Voice


Last episode, Gyi called out the legal profession for sitting on its hands while federal overreach ramped up. This time, we get to spotlight the folks actually stepping up.

Spencer Pahlke, shareholder at Walkup, Melodia, Kelly & Schoenberger, posting walkout maps. The National Trial Lawyers putting Omarosa on stage. Don Thomas, attorney at Ellis & Thomas, PLLC, offering pro bono representation to anyone arrested at a Texas protest. And the “Injured by ICE” ad from Newman Law Group, which is simultaneously a PI advertisement and the clearest possible signal about whose side you’re on. It’s not really about ice injuries. It’s about telling a specific slice of the market: we see you, we stand with you, call us.

Patrick Palace, as president of the National Conference of Bar Presidents, led a formal pledge to preserve the independence of the legal profession. Gyi signed it.

Speaking up isn’t just about civic duty. It’s business survival. No rule of law means no legal industry, period. And if you’re a local lawyer whose business lives or dies on trust, staying quiet is its own kind of statement.

The TSEG Ad and the Art of Committing to Your Stance


The Search Engine Guys ran a sponsored Facebook ad taking direct aim at the Herringbone acquisitions of Hennessy Digital and BluShark. The pitch: your acquired agency is now recycling your strategy for the firm across the street. We don’t do that. One firm per market.

Conrad’s reaction: trolling for Jason Hennessy and Seth Price’s clients. Direct, accurate, maybe mildly inflammatory. The ad is clearly that.

Here’s the deal: the ad nails it. It hits a real nerve—data sharing throughout a portfolio—stakes out a position, and goes straight for the firms spooked by the buyouts. That’s how you do positioning.

Then it got messy. The company’s former owner jumped into the comments to dilute the message and keep things cordial with the same firms they had just targeted. Conrad’s take: someone’s hedging in case they want to cash out later. Either way, backing off your bold move on day one just hands your competitors a win.

Here’s the lesson: if you’re going to draw a line, stand on it. Half-measures are worse than saying nothing. If you want to be the local, independent, community-first answer to the PE giants, own it all the way—or don’t bother.

What Law Firms Should Actually Do


The medical industry is the warning shot. Private equity in healthcare has been picked apart by researchers, and the verdict is clear: it can put patients at risk. The conflict between profit and care is real. Legal is up next.

So if you’re a local or regional firm watching this unfold, what’s your move?

  • Go hyper-local. Not just ‘Cincinnati’s law firm,’ but this block, this group, this community. Big firms can’t localize like you can. That’s your edge. Lean into it.
  • Know your numbers. High-volume, low-margin shops can make PPC work at price points that will crush smaller firms. That’s not a dig at PPC—it’s just how the math works. If you’re not built for volume, quit fighting on volume channels. Build where relationships and reputation actually matter.
  • Diversify your channels. If you’re still betting the farm on one source for most of your leads, you’re one algorithm tweak, one LSA rule change, or one big-spending rival away from disaster.
  • Let your clients do the talking. When someone ditches the billboard lawyer and gets a better result with you, that’s your best marketing ammo. Get the story. Share it. No one can fake that at scale.
  • Stay in their heads. There are people in your community who already know and like you—they’d hire you if they remembered you when it mattered. That’s not a marketing issue, it’s a presence issue. Fix it.

The COOs, the CMOs, the money—they’re already here. The only real question is whether you’ve figured out what you’re building and who it’s for.

Until next time.

Want more? The full conversation is waiting for you on the Lunch Hour Legal Marketing Podcast page, or head on over to YouTube to watch.