Compounding Knowledge and On Deck Series A Memo: The Power of Lifelong Learning and Community

Compounding Knowledge and On Deck Series A Memo: The Power of Lifelong Learning and Community

In a world where information is readily available at our fingertips, it's easy to get caught up in the allure of consuming expiring information. We scroll through news articles, read blog posts, and watch videos, but how much of that information truly sticks with us? How much of it becomes knowledge that we can draw upon and use to our advantage?

Warren Buffett and Charlie Munger, two of the most successful investors of our time, have something in common - they have an immense vertical filing cabinet in their brains filled with layers upon layers of information. They have spent their lives reading, learning, and building a knowledge base that they can tap into whenever they need it. They don't rely on constantly googling things or looking them up because they already know it.

This is the power of compounding knowledge. By continuously learning and building upon our existing knowledge, we can develop a deep understanding of a subject and see patterns that others may miss. It's not about consuming information that expires quickly, but rather about diving deep into a topic and spending time thinking about it.

But how do we go about compounding knowledge? It starts with curiosity. We need to have a genuine interest in a subject and be willing to explore it from various angles. This means reading books, newspapers, biographies, and trade press about the topic. It means seeking out different perspectives and challenging our own beliefs.

The internet has made it easier than ever to retrieve information, but there is a difference between retrieving information and having it already in your head. When we take the time to process and analyze information, we can find patterns and make connections that we wouldn't be able to do on the spot. It's like comparing processing data in a database to retrieving and processing information on the spot. The former is faster and more efficient.

Incorporating unique ideas and insights into our learning process can also help us compound knowledge. We need to ask ourselves if what we're reading or learning about will still be relevant in the future. Will we care about it in a month, a year, or five years? By focusing on topics that have long-term value, we can build cumulative knowledge that becomes a powerful asset.

This idea of compounding knowledge is not limited to individuals. It can also be applied to communities and organizations. On Deck, a community-driven platform, understands the power of combining knowledge with community. They believe that humans still have a need for fulfillment, meaning, and identity, and they have found that online communities can provide that.

On Deck uses its program revenue to invest in creating exceptional experiences for its members. By tightly interweaving different programs, such as founders, angels, and talent fellowships, they create a supply that meets the demand within their network. This approach not only builds their reputation but also drives new member demand, allowing them to further invest in research and development, acquisition, and distribution.

The rise of "ed-tech 2.0" is another example of the power of compounding knowledge. Traditional higher education is on the decline, and virtual curriculum and community are becoming the new norm. On Deck recognizes this shift and has "re-bundled" community with curriculum, creating a rewarding and personal learning experience.

So how can we apply the concept of compounding knowledge and community to our own lives? Here are three actionable pieces of advice:

1. Cultivate curiosity: Develop a genuine interest in a subject and explore it from different angles. Read books, articles, and biographies about the topic. Seek out different perspectives and challenge your own beliefs.

2. Focus on long-term value: Ask yourself if what you're learning about will still be relevant in the future. Will you care about it in a month, a year, or five years? By focusing on topics with long-term value, you can build cumulative knowledge that becomes a powerful asset.

3. Seek out communities: Surround yourself with like-minded individuals who are also on a journey of lifelong learning. Join communities or platforms that provide both knowledge and a sense of belonging. Engage in discussions, share insights, and learn from others.

In conclusion, compounding knowledge and community go hand in hand. By continuously learning, building upon our existing knowledge, and engaging with communities, we can develop a deep understanding of subjects and make connections that others may miss. It's not about consuming expiring information, but about diving deep, analyzing, and thinking critically. So let's embrace the power of lifelong learning and community and unlock our full potential.