Not mutually exclusive!

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You can have all knowledge in the world by, for example, reading books, but until you experience in real life, is only knowledge that was not applied in real experiences. Wisdom is gain by experience. Sometimes what we think will work in some way by knowledge has a different effect depending on circumstances and people.

Nothing to disagree with there. I think experience is an internal thing. One person can read a book and experience 100% of it while another can live the book and experience none of it.