I love it when I’m right.  I don’t gloat too much, but today will a bit, as part of my Law Firm 2.0 series is proving true:  the eventual demise of the billable hour.

I won’t reiterate all of my thoughts on the subject.  If you are curious, check out my prior postings, but the NY Times recently published an article on how the economy is affecting the concept of the billable hour. 

It’s not surprising, but I was still happy to see the results.

Now the only question is whether or not this will ever affect the accounting industry.  Let’s all cross our fingers.

In case you haven’t heard, Techstars is now open for applications for this summer. 

For those of you who aren’t familiar with Techstars, it’s one of the greatest business accelerators that I can think of.  Up to ten teams a year move to Boulder and get hands-on mentorship from a great group of people. 

Along with the $18,000 that comes with each accepted company, every team gets to meet with potential investors along the way for both feedback and networking for potential funding later.

I’m proud to say that the team I mentored in year one, socialthing! was ranked as the #2 M&A return for 2008 for Internet companies. 

My two teams this past year, Ignighter and App-X are both doing well, one having received seed funding and the other doing so well that they haven’t needed it. 

I’d encourage anyone with a great idea that wants to really move their concept to consider applying.