Everybody loves the announcement. Nobody talks about the 18 months that come after it.

This week, Chris and Toby use the US-Iran memorandum of understanding as a case study in what agreements in principle actually are — and aren't. Spoiler: an MOU is a lot like agreeing to get divorced. You've decided it's over. You haven't figured out who moves out, who gets the joint accounts, or what happens to everything you've built together. The hard part is still ahead.

Along the way: why you should always look up what the last attempt at this actually took before you promise a timeline, the PUMP framework for pressure-testing big decisions before you're already committed, and the Pollyanna problem — why organizations structurally reward confident forecasts over honest ones, and what that costs you later.

If you've ever nodded along to a kickoff presentation and thought "there's no way this takes six months" — this one's for you.