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 a concept from consulting,invented by BCG founder Bruce He