I am beset by claims that I do not believe there is a shortage. Then, in a recent social media post, a court reporter came on stating that she felt hopeless and that she felt the companies are gaining ground. Below is what I wrote. It is a summary of all my research as of today.
“There is a shortage. It’s being exaggerated and exacerbated by Veritext, US Legal, and the Speech-to-Text Institute. Digital is not cost effective. The companies are picking up speed because they literally have no choice. We blew open their deception of student consumers and started reporting it to the FTC.
We are solidly more powerful today. The reason we feel smaller is because we are fragmented and operating on incomplete information. What do I mean by that? Well, we are by best estimates about 28,000 strong. All told, by 2033, we probably need to be about 30 to 33,000 strong. When you multiply that 28,000 by the median stenographer salary of 61,000 you get about 1.7 billion. We represent $1.7 billion of an industry that is approaching $3 billion. The goal of the companies is to encroach on that $1.7 billion.
There is hope. The companies may be operating at a loss on the premise that they can jack up the rates when we are defeated. The concept of a company operating at a loss is called a zombie company. A lot of big names you know are zombies or have made massive blunders. Uber’s a zombie. Zillow burned billions in market capitalization believing it could trust its algorithms to buy homes. These big companies don’t sound scary when you realize they can make simple mistakes that cost them large percentages of their value, do they?
But this requires our continuous recruitment and training of stenographers. We should band together as a field and start talking about things like relocation funds where necessary. There are many creative things we can do with the power that we have. But it requires talking to each other and keeping hope.
We know from Richter’s rats that hope likely makes people superhuman. I suspect that’s why we get stories like the mom who fought the mountain lion off with her bare hands. Physically impossible, but apparently happened? And compared to things like that, our problems are easy to solve.
We’ll win if we try. The dirty tactics being used against us wouldn’t be necessary if our fate was inevitable.”
This is also why I revamped the payment system on the Stenonymous.com home page. The fact remains that if each reporter made the suggested monthly $5 donation or annual $60 donation, by best estimates, this blog would have a larger annual budget than Veritext and US Legal combined. That’s enough money to end the shortage (assuming $1 to $2 per engagement) and advertise what’s happening to about half the lawyers in the country. I’m grateful for the outpouring of support and the people that have spent well over the suggested donations.
I still have cards up my sleeve. So, even assuming the blog receives not a single penny more, thank you all for your trust in me. Stay tuned for big news expected the weeks of January 24th and January 31st.