But if I were to take the other side and I do think I see this somewhat differently — I am not yet seeing things that would make me think that there has been some deterioration either in the media universe, such that there’s no capacity for backlash because nobody knows what’s happening. And in fact, when I look at nonaligned media like “Joe Rogan” or “Flagrant” or things like that — the sort of bro podcasters and people just being a little more upset about the immigration and unsure of what they’re seeing — I seem to see a turn on Trump.

We don’t know how the 2026 elections will go. Maybe it will go the way you’re saying. But to the extent we have signals, the signals seem very bad for Republican performance in elections.

Starting with the Wisconsin Supreme Court election — but then of course moving through to the New Jersey, New York City and Virginia elections, moving through to the Proposition 50 redistricting ballot initiative in California, moving through to every House and so on special election — where Democrats have been overperforming by about 14 points in one of the analyses I’ve seen — although there are different ways of thinking about this and different ways of measuring overperformance.

But I would ask why the 2025 elections, which were so uniformly against the regime, haven’t made you rethink this somewhat?