This paper examines the role in both individual and organizational learning of the system of values sustained by a community undertaking a design task. The discussion is based on the results of a longitudinal study of a community of novice information system designers supported by a Web-based shared design memory which allows reuse of design precedents, the sharing of peer reviews and the examination of links established among design cases as a consequence of partial reuse. It is argued that values are primarily constructed and transmitted by 'ways of talking' about the design artifacts, are used by the learners to generate meanings relevant to engage in the design activity and as a way to manage the complexity of the design task. By taking into account some insights concerning values creation and transmission, respectively, from the communities of practice and memetics theoretical frameworks, some conclusions are drawn on how a digital medium, such as the shared memory, can better anchor the learning process.