Two norms and on one vector space are Lipschitz equivalent when constants exist such that
Choose a basis of the finite-dimensional vector space and let be the maximum absolute coordinate. For any norm , the triangle inequality gives
so is continuous in the coordinate topology. On the compact set , the positive continuous function attains a positive minimum and a finite maximum . By absolute homogeneity,
This proves the equivalence of norms in finite dimensions: every norm is equivalent to the maximum norm, and transitivity of these inequalities proves that any two norms on a finite-dimensional vector space are Lipschitz equivalent.
Suppose
If is a Cauchy sequence in , then
Conversely, . Hence the sequence is Cauchy for one norm exactly when it is Cauchy for the other.
For each positive integer , let have its first coordinates equal to one and all later coordinates zero. This is an element of the l-p sequence space for every finite , and
No constant can bound by a fixed multiple of for all . Thus and are not Lipschitz equivalent.
For , the same finitely supported sequence gives
One of the two inequalities required for equivalent norms therefore fails. Hence

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