29: The Experience Curve – How to Plan Your Career Better
Future Skills2 Syys 2018

29: The Experience Curve – How to Plan Your Career Better

Stop thinking linearly. Start thinking exponentially.

Everyone who has read economics knows about scale effects. Like economies of scale or economies of scope. But a lot of people don’t know about the scale effects of experience and learning...

The Experience Curve states that things become cheaper and more effective to produce over time as you get better at it. The experience curve explains why specialization works so well.

This is originally a concept from management consulting, invented by Bruce Henderson, the man who founded Boston Consulting Group.

"[UNIT] Costs characteristically decline by 20-30% in real terms each time accumulated experience doubles."

—Bruce D. Henderson, 1968

The reason The Experience Curve is important is that it’s a general principle that applies to you as an individual as well. And you can use this to plan ahead better in your own career. Once you specialize, you shouldn’t assume a linear progress, but rather, an exponential effect.

How to make use of this idea

  • Investing: Equity research, investment
  • Work: Identifying promising industries or companies to work at
  • Improvement: Focusing on the lowest hanging fruit for improvement

If you liked this episode, go ahead and give us a rating on iTunes. It will help more people find us and prepare properly.

*Subscribe to Future Skills on: iTunes | Android | Stitcher | Spotify

*Join our newsletter for weekly summaries of the episodes. 

*Apply for the Future Skills Program

Email us at admin@futureskillspodcast.com

Jaksot(49)

Martin Sandquist

Martin Sandquist

Martin Sandquist co-founded Lynx asset management, a 8 billion dollar hedge fund Do you want to learn more about investing? Check out https://theinvestingcourse.com/

5 Syys 20231h 39min

Pippa Malmgren

Pippa Malmgren

Pippa Malmgren, award-winning author, former US Presidential Advisor and tech entrepreneur drpippa.substack.com Do you want to learn more about investing, timeless value investing methods? Check out ...

5 Syys 20231h 12min

47: Season 1 Finale – Synopsis of Lessons from our 15 Guests

47: Season 1 Finale – Synopsis of Lessons from our 15 Guests

We conclude Season 1 of Future Skills with an extra-long discussion about the top tips and ideas we learned from the following 15 guests: Even if you’ve listened to all their episodes, the Season Fina...

6 Tammi 20191h 1min

46: Gold and Tesla Beyond The Blockchain with Erik Townsend

46: Gold and Tesla Beyond The Blockchain with Erik Townsend

In today’s episode we pick up the talk from episode 34 with investor, author, podcast showrunner and technology entrepreneur Erik Townsend. Once again we cover a lot of ground, including Erik's views ...

31 Joulu 20181h 3min

45: Futurist Martin Ford on: the 23 Leading Architects of AI

45: Futurist Martin Ford on: the 23 Leading Architects of AI

❄ Merry Christmas! ❄ In today's Christmas episode we talk to futurist Martin Ford, popular speaker and author of bestselling books Rise of Robots and now Architects of Intelligence. Do you want to le...

24 Joulu 201858min

44: The 5 Global Problems and 5 Big Technologies

44: The 5 Global Problems and 5 Big Technologies

We discuss 5 global problems (water, food, climate, energy, health and 5 big technologies that may be used in solving them (AI, automation, biotech, nanotech, 3D printing/additive manufacturing).  We ...

17 Joulu 201824min

43: Why Robotics is the New Auto Industry

43: Why Robotics is the New Auto Industry

Alternate headline: "How You Can Own a Little Robot Butler, Like Rocky in 1984" We delve into Mikael's strong interest for robotics and automation. Mikael makes a strong case for why robotics will be ...

10 Joulu 201822min

42: Dr Philippa Malmgren. How to manage the next big thing (Dr P is a robot entrepreneur, presidential advisor, author...)

42: Dr Philippa Malmgren. How to manage the next big thing (Dr P is a robot entrepreneur, presidential advisor, author...)

Today we talk to Dr Philippa Malmgren Pippa, short for “Philippa”, is a tech entrepreneur and a geopolitical consult. She has authored several books, including “Signals”, and “Geopolitics for investor...

2 Joulu 20181h 12min

Suosittua kategoriassa Koulutus

rss-murhan-anatomia
voi-hyvin-meditaatiot-2
psykopodiaa-podcast
rss-narsisti
adhd-podi
rahapuhetta
rss-rahamania
kesken
psykologia
rss-liian-kuuma-peruna
rss-niinku-asia-on
rss-eron-alkemiaa
rss-arkea-ja-aurinkoa-podcast-espanjasta
esa-saarinen-filosofia-ja-systeemiajattelu
rss-duodecim-lehti
rss-vapaudu-voimaasi
rss-luonnollinen-synnytys-podcast
rss-tietoinen-yhteys-podcast-2
rss-finnish-daily-dialogues
ihminen-tavattavissa-tommy-hellsten-instituutti