Previously on Not Your Friend, we had our very good friends Veritext and US Legal. Today we make an entry for Planet Depos. There’s really not much to say about them specifically. They’ve been using digitals a while, and it seemed superfluous to write about. There are entire Facebook groups dedicated on social media to watching out for this kind of stuff. Where it might take one person a year and a day to find the information and get it out to a large audience, in these groups news travels fast. So if you’re not connected to something like a Protect Your Record group or a DR Watchdogs group, get connected today, or friend someone who is connected. There have been discussions of agencies that are doing this sort of thing, and discussions of how to advocate for our field and stenography.
What can we say? Veritext is still busy seeking digitals in New York City, which is about as close to stenographic fortress as you’ll ever get. PD is doing it in their markets. There are a whole bunch of companies that we were relying on to stay steno, or that were relying on us to do the good work we do every day. That’s changing. What happened? We can blame ourselves, as we often do, and say it’s something to do with our skills or habits. We can blame them, throw our hands up and say this is the end. Or we can take control of the situation. We can embrace that victory is cumulative. We can understand that there won’t be one single defining moment where someone wins or loses. What happens in a year or ten is settled on what we do every day up to that point.
I know my plan. The first step is to really get the news out that this is what’s happening. Next up, information dispersal. As we start revealing how the market works and what’s being charged, the information will be out there for everyone, and consequently, more people will compete directly. Keep in mind recruitment ideas so that the shortage doesn’t beat us via attrition.
I’ll be publishing rate sheets, client lists, whatever I find and wherever it’s leaked. Many others have taken up advocating for us on a larger stage at attorney, paralegal, and “big law” events. These are not new ideas, but the strategies at play are clear winners. Look how Veritext crumpled at the first sign of stenographers rejecting their new direction and subsequently tried dumping some money on steno to make things better. Imagine a world where there’s any sustained effort to expose shoddy business practices and compete. They just might start their own school program!
We can’t guarantee victory. The catch there is they can’t guarantee it either. And if these companies have stiff competition, there’s a good chance they’ll fall in line and use stenography in every market where it’s viable to use stenography. There’s also a good chance that if those companies don’t fall in line, they’ll go under. With websites like Owler saying Veritext has an annual revenue of 300 million, or Planet Depos an annual revenue of 4 million, and with the cold hard truth that large companies with annual revenue in the billions, like Sears, can cascade into ruin, the truth is out there. Competitors are a market force. Labor is a market force. No matter which you view us as, we have real power. Use that power, and a big box can find itself in the recycling bin.
I am made aware of Planet Institute, a mentorship program ostensibly owned and operated by Planet Depos LLC and registered by Planet Depos under the WHOIS lookup. Notably, its registration predates this article by nearly a thousand days. As always, I encourage agencies taking the jump into advocating for court reporting, specifically stenography. Every dollar spent on steno is valuable and important. In my view, every company can easily turn the ship around, get off the digital craze, and grow some value for shareholders by making stenography training and mentorship their focus. That said, I mention this out of commitment to intellectual honesty more than actual belief that PD will come out as a pro-steno player. As always, happy to be proven wrong and watch them come out as a consistent pro-steno advocate.