The Power of Curation and Understanding Growth in the Information Age

Hatched by Kazuki
Jul 17, 2023
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The Power of Curation and Understanding Growth in the Information Age
In today's information age, the ability to effectively manage and curate information has become crucial for success and thriving in various aspects of life. Gone are the days when physical force or material possessions determined one's opportunities. Instead, what you know, how skilled you are at finding and managing information, and your network of contacts play a vital role.
Curation, defined as using expertise in a field to gather and present great content around a specific theme, offers immense value. It not only provides context to information but also adds a specific perspective and story to appreciate it. By curating information, individuals can be understood, valued, and respected by others. Sharing knowledge through curation allows for a deeper connection with like-minded individuals in society.
But why do people curate? Upon closer examination, it becomes apparent that most individuals curate not for the purpose of saving time or gaining authority, but because they genuinely care. Curators are personally interested in what they do and use curation as a means to deeply learn, uncover gems, and organize resources to share with others. Curation is useful for both the curator and those who benefit from the curated collections.
The abundance of resources in the digital world has made curation even more necessary. With a vast sea of information, curation helps save time by providing organized access to valuable resources that would otherwise be difficult to find and verify. It requires vetting, verification, and the ability to synthesize and illustrate the value of presented information while giving credit to sources.
Curation serves multiple purposes: taking care of an information space, educating and entertaining a specific audience, and creating something meaningful of lasting value. By sharing curated content, curators contribute to a social good and provide a commons that benefits everyone. The art of curation lies not only in the individual pieces of content but also in how they fit together, creating a cohesive picture of a larger trend.
In a separate but related topic, it is essential to dispel the myth of exponential hypergrowth. High-growth companies actually grow quadratically, not exponentially. Growth naturally declines as a percentage with scale, even when nothing is wrong with the company. This phenomenon, known as Growth Decay or Growth Persistence, is a law of nature.
While viral products may seem to experience exponential growth, they eventually reach market saturation and cannot continue growing exponentially. The logistic curve, which initially exhibits exponential growth, levels out as the product reaches around 25% market penetration. This flattening occurs due to the tension between exponential growth and fewer remaining targets. Eventually, the curve reaches its fully-saturated market, known as the "carrying capacity."
To counter this growth decay, companies often spend billions of dollars to increase the size of the market. Additionally, it is crucial to understand the concept of Elephant Curves, which represent growth as market share. As the carrying capacity of the market evolves, companies must focus on winning market share in new spaces or introduce significant updates to address new markets.
Moreover, the power of word-of-mouth-driven growth cannot be underestimated. This form of growth, which encourages sharing and is more effective than marketing-driven growth, should be built into the product itself. By incorporating word-of-mouth strategies, companies can benefit from automatic growth as the company expands, reducing costs and maximizing customer reach.
In conclusion, curation and understanding the reality of growth in the information age are essential for success. By curating information, individuals can provide value, context, and perspective to resources, benefiting both themselves and others. Additionally, recognizing the limitations of exponential hypergrowth and leveraging word-of-mouth strategies can lead to sustainable growth and success. Three actionable advice to consider are:
- 1. Embrace curation as a means of deepening your knowledge and sharing valuable resources with others. By curating, you can create a lasting impact in your field of interest.
- 2. Understand the reality of growth and the concept of carrying capacity in your market. Instead of relying solely on exponential growth models, focus on winning market share and adapting to new markets as your product matures.
- 3. Prioritize word-of-mouth-driven growth by incorporating strategies that encourage sharing and create a community around your product or service. This form of growth is more cost-effective and can lead to automatic expansion as your customer base grows.
By incorporating these actionable advice, you can harness the power of curation and navigate the complexities of growth in the information age, setting yourself up for success in an ever-evolving landscape.
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