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Trump is a master at wielding attention. He’s been owning news cycles and squatting in Americans’ minds for much of the last decade. And for his second term he has an ally in Elon Musk, a man with a similar uncanny skill set.

Trump and Musk seem to have figured out something about how attention works in our fragmented media age — and how to use it for political and cultural power — that Democrats simply haven’t. So what is it? What do they understand about attention that their opponents don’t?

Chris Hayes is the host of MSNBC’s “All In,” and has written a forthcoming book, “The Sirens' Call: How Attention Became the World's Most Endangered Resource.” And he’s a brilliant thinker on how our modern attention economy works and what it’s doing to our politics.

We discuss what Hayes sees as a revolution happening to our attention, which he compares to the Industrial Revolution in its scale and impact; why the old rules about attention in politics no longer apply; the key insight Trump had about attention that fueled his rise; why Musk didn’t really overpay for Twitter; and how Democrats can compete in this new attentional world.

Mentioned:

“Your Mind Is Being Fracked” by The Ezra Klein Show with D. Graham Burnett

“The Great Crypto Crash” by Annie Lowrey

Book Recommendations:

Amusing Ourselves to Death by Neil Postman

How to Do Nothing by Jenny Odell

Rejection by Tony Tulathimutte

Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.

You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.

This episode of “The Ezra Klein Show” was produced by Jack McCordick. Fact-checking by Michelle Harris. Mixing by Isaac Jones, with Efim Shapiro and Aman Sahota. Our supervising editor is Claire Gordon. The show’s production team also includes Rollin Hu, Elias Isquith and Kristin Lin. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser.

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

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Democrats are Losing the War for Attention. Badly.