It's that time again for all the sufficiently interesting news that isn’t otherwise fit to print, also known as the Monthly Roundup.

Bad News

Beware the failure mode in strategy and decisions that implicitly assumes competence, or wishes away difficulties, and remember to reverse all advice you hear.

Stefan Schubert (quoting Tyler Cowen on raising people's ambitions often being very high value): I think lowering others’ aspirations can also be high-return. I know of people who would have had a better life by now if someone could have persuaded them to pursue more realistic plans.

Rob Miles: There's a specific failure mode which I don’t have a name for, which is similar to “be too ambitious” but is closer to “have an unrealistic plan”. The illustrative example I use is: