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The Niskanen Center's Steve Teles returns to The Realignment for a wide-ranging discussion about the Democratic Party's evolution during the Trump-era and what lessons it can and can't take from the GOP's experience under Trump. Marshall and Steve unpack how Democratic Party factions - from abundance-focused reformers to the new "Common Sense Democrats" - mirror and diverge from the GOP's 2010s-era "Reform Conservative" movement. They explore the challenge of offering new ideas after rejection at the ballot box, the role of candidates like NYC's Zohran Mamdani, and why signaling change requires taking on your own side.