The late Berkshire Hathaway vice‑chair Charlie Munger once told USC law students that success belongs to "learning machines" who end every day a little wiser than they began.
What Happened: "I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines." Munger said at a 2007 commencement address, urging graduates to practice a multi‑disciplinary approach or risk stagnation.
He often paired the advice with his rule of "going to bed smarter than you woke up," noting that continuous study made life "more fun."
“Nothing has served me better in my long life than continuous learning. I went through life constantly practicing (because if you don't practice, you lose it) the multi-disciplinary approach and I can't tell you what that's done for me,” Munger explains.
Munger's long-time business partner and friend, Warren Buffett, tells young investors to read 500 pages a day because “that's how knowledge works… It builds up, like compound interest”.
At the same address, Munger credits Buffett as a “continuous learning machine” without whom Berkshire Hathaway wouldn’t hold on to the record of what he describes as “the best long-term investment record in the entire history of civilization.”
Why It Matters: Buffett, who has a storied career investing in a variety of businesses, pointed out that while having a great business idea is beneficial, it is the ability to continually learn and adapt that sets successful people apart.
Others agree. Bill Gates still finishes about a book a week to stay ahead of big ideas. Amazon founder Jeff Bezos enshrined "Learn and Be Curious" as a leadership principle at the company. Tesla and SpaceX chief Elon Musk, who plows through technical texts outside his field, credits broad reading for letting him jump industries.
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