The document discusses the Flex component lifecycle, which consists of three main phases: birth, life, and death. The birth phase includes construction, configuration, attachment, and initialization. The life phase involves invalidation, validation, and interaction. Invalidation triggers the validation phase, which consists of commitProperties(), measure(), and updateDisplayList() methods. These methods apply deferred changes, measure component sizes, and update displays. The validation phase prepares components for rendering before the next frame.