In this episode of the Trustcast Show, host Zane Myers talks with Joe Jones - co-founder and CEO of StreamSettle, a legal tech platform using triple blind encryption to settle insurance claims before either side knows what the other submitted. He went from defending Marines in military courtrooms to board certified trial lawyer (distinction held by less than 6% of Texas attorneys) to bootstrapping a startup that argues the best use of his courtroom skills is making sure clients never see one. After a shower idea while working a trucking case he couldn't ignore, Joe and his wife Krissa (former public school teacher, now co-founder) built a nationwide platform that's settling cases faster, cheaper, and with less stress - while both sides think it's better for them than their opponent. What You'll Learn: Shower idea while working trucking case - kids playing in cul-de-sac, neighbors over, typing motions Knew case would settle but going through all the motions anyway Idea: put true numbers in (not postured numbers) to see if overlap without revealing First thought: maybe something like this exists - nothing out there Ran idea by wife Krissa (co-founder) - "curator of ideas" usually rejects them, but liked this one Became their purpose/mission - make it industry standard Saves parties time, money, stress - everything they want to avoid Over 90% of civil cases settle eventually Tens of billions wasted annually just because of posturing Triple blind encryption: no one sees opponent's number, software blind to actual numbers Computations done on user's machines, pass through server encrypted Different from competitors where one side hires them - trust issues remain StreamSettle maintains neutral party status One number only: true settlement threshold (ranges still involve posturing) Plaintiff: bottom line willing to accept | Defense: top number willing to pay If overlap exists: split right down the middle of threshold Example: defense pays $1M, plaintiff accepts $950K = settlement at $975K Plaintiff gets $25K more than willing to accept, defense pays $25K less If no overlap: parties can try again immediately (zero charge to test numbers) Only charge fee once settlement reached on platform Emphasize putting true threshold - shouldn't need second round until case facts change New deposition, new facts typically bring parties closer together Founded late 2022 Finished build end of 2023 Went live with first customer beginning 2023: Plymouth Rock Assurance (New Jersey) Still most active customer - helped refine product through growing pains Brought on ~50 law firms in New Jersey first year and a half Grateful to early customers for helping refine product Partnered with London-based development company for big enterprise development Pay them by the hour (no equity stake) - worth every penny Constantly improving with updated features Nationwide - available all 50 states Plan to go global once industry standard (maybe before) Looking for other verticals/use cases beyond litigation Started as Marine Corps legal assistance attorney (first billet) Most active duty time: criminal defense lawyer Legal assistance: Marines/sailors came with all problems (divorce, scammer contracts, deceptive businesses, landlord evictions) No power of courts behind them - couldn't file suit Negotiation became huge part of success Learned to be creative without threat of lawsuit Criminal defense: negotiating deals when evidence overwhelming, client guilty Focused on mitigating factors: combat record, PTSD untreated for years (Marine Corps fault) Best job ever for new lawyer - incredible job Board certified trial lawyer - less than 6% of Texas attorneys hold this distinction Wife Krissa: former public school teacher, firm administrator for law firm Already working together before StreamSettle Scaled down firm, Krissa helped more with StreamSettle Had to be co-founder - talk about it constantly Call it "fourth child" (have 3 real kids: Ellie, Everett, Juliet) Blessing to have journey together Starting law firm vs. startup with no proven demand Go to pitch competitions, conferences together Posturing example: buying car listed at $60K, offer $45K claiming budget Sticker price is posturing too In litigation: years of very expensive delay (not minutes/weeks like car buying) ABA model rules: lawyers can't deceive, but exception for puffering in negotiations Ingrained behavior - can't make rule against it Accepted form of deceit Initial reaction from lawyers: "I get why it's good for us, but how will you get other side?"
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