Given a sequence $(x_n)$ of real numbers satisfying $$|x_n - x_m| \leq \frac 12 |x_{n-1} - x_{m-1}|$$ does it follow that $(x_n)$ is Cauchy?
This question arose in an attempted answer to this question. I feel like this should be false. All I can think of is the double sequence $a_{n,m} = 2^{n-2m}$ which satisfies the analogous inequality above and does not go to $0$ for the product topology. But it does not satisfy the triangle inequality $a_{n,m} \leq a_{n,k} + a_{k,m}$ so it's quite far from a counterexample.