Podcast Summary

Podcast: Victor Davis Hanson: In His Own Words
Episode: Victor Davis Hanson with Devin Nunes: How Republicans, Trump Can ‘Defy All The Odds’ in 2026
Date: December 31, 2025
Host: Victor Davis Hanson
Guest: Devin Nunes (Former Congressman, CEO of Trump Media & Technology Group, Chair of President’s Intelligence Board)

Overview

This episode features a wide-ranging and in-depth conversation between Victor Davis Hanson and Devin Nunes. The primary focus is on the Republican political outlook for 2026, what it will take for Donald Trump and the party to overcome historical odds and maintain the House, and Nunes' direct involvement in key developments at Truth Social. The conversation also explores a groundbreaking new push into fusion power, with Nunes detailing the merger of Trump Media & Technology Group and TAE Technologies to make America the global leader in fusion energy. The episode closes with candid reflections on California’s decline, the impact of neo-Marxism in the Democratic Party, and the critical intersection of technology, energy, and policy in securing America’s future.

1. Political Outlook: Can Republicans & Trump Defy the 2026 Odds?

(Starts ~04:38)

Historical Challenge:
Devin Nunes explains it's “very difficult for a majority in Congress to keep that majority when you have the same president,” recalling his first elections during the Bush years and subsequent history with Obama and Trump (05:40).

"President Trump has to defy history, which is possible, because it has happened." – Devin Nunes (06:12)
Key Factors for Success (06:30–09:30):
- The economy is the number one issue; the “big beautiful bill” builds off Trump’s tax reform, making the tax code simpler and driving capital deployment.
- Strong economic growth, noted at “robust economic growth that surprised everybody in the third quarter.”
- Combined with strength abroad, these factors position Republicans to “defy all the odds and potentially win.”
House Races Layout:
Only about 30-50 seats are truly competitive due to redistricting; extreme political gerrymandering by both parties has concentrated real contests.

"With a two or three seat majority the Republicans have now, this thing could go either direction..." – Devin Nunes (07:50)
Winning Message (09:30–11:00):
Good candidates, local focus, emphasis on strength abroad and a growing economy are essential. Nunes predicts either party will have, at most, a 10-seat majority.
Trump’s Work Ethic:
Trump’s relentless pace distinguishes him.

“They don’t actually give him credit for the one thing that is most important...he just flat out works everybody else...I've never seen a president work this hard.” – Devin Nunes (11:20)

2. The Transformation of the Democratic Party

(Starts ~11:46)

From Liberalism to Neo-Marxism:
Nunes outlines the shift from explainable left-wing positions (Barney Frank era) to modern-day “neo-Marxists who are political tacticians...almost Stalin-esque.” (13:15)

“Barney Frank...believed in what he was talking about...The Barney Franks have been replaced by people that are extreme left but with no ability to explain their politics.” – Devin Nunes (14:00)
The Impact of ‘The Squad’:
AOC’s upset of Crowley becomes a symbol of this ideological shift (15:09).
The Democrats now champion causes from extreme identity politics to radical immigration stances, often in ways Nunes says “result in death and destruction.” (16:30)
California as a Case Study:
Nunes and Hanson discuss how “Marxism” works electorally in California:

“The worse the state does, the worse the policies are, the more the people in California say, ‘wow, this is great. I want higher gas prices, I want higher electricity prices.’” – Devin Nunes (18:01)

Hanson highlights the state’s overwhelming welfare recipient percentage, exodus of the middle class, and polarization between rich coastal elites and those dependent on entitlements (19:18).

3. Truth Social’s Evolution and Free Speech Fight

(Starts ~21:10)

Building out of Necessity:
Nunes details how Truth Social became the “tip of the spear” for free speech, standing up the platform after Trump and others were banned or shadow-banned by “Big Tech.”
Censorship Challenges:
- French hostility toward Rumble (a partner).
- U.S. government hostility via prolonged SEC regulatory battles (“We had to fight the SEC for nearly three, three over three years.” – 24:20).
Growth Despite Obstacles:
- Initially blocked from Google Play Store, full access achieved by late 2022.
- Public listing delayed, creating a capital shortfall, which made the company “stronger.”
- Finally went public in spring 2024 and raised $2.5B by summer 2025.
Mission-Driven Expansion:
Now combines social media, global streaming, and major media partnerships.
The Move into Energy:
Cites unsustainable American energy policy when compared to China:

“China now is producing three to four times the amount of power that we do as a country. It’s a lot cheaper...Windmills, solar panels don’t work.” – Devin Nunes (26:40)

4. Trump Media’s Bet on Fusion Energy

(Starts ~30:08)

Why Fusion, Why Now:
U.S. must meet exploding power needs from AI; China is outproducing the U.S. in cheap, reliable energy.

“Our weak link is not the technology and not the brain power...but it’s power.” – Victor Davis Hanson (31:10)

Chinese government is building multiple coal/nuclear plants per month, flooding the West with subsidized green tech while not using it themselves.
Scope of the Challenge:
“Something equivalent to the Manhattan Project or Hoover Dam...multi, multi-billion if not a trillion dollar agenda.” – Hanson (32:00)
TAE Technologies Merger:
- TAE is the world’s premier fusion company (33:18).
- Roots in 1990s academic research; funded by Schwab, Google, Chevron.
- Five functioning prototypes; ready to move to commercial scale.
Investment and Timeline:
- $2.5B in capital for acquisition, further investment needed.
- First 50MW commercial reactor construction to begin 2026.
- Future modular reactors sized 350–500MW, “competitive to gas and coal.”
“Once you prove that out...whoever cracks this code...is going to own the global market.” – Devin Nunes (46:39)

5. Fusion’s Promise and the Race with China

(Starts ~41:35)

Fusion vs Other Technologies:
- Modular, relatively small footprint.
- Uses boron, “not radioactive and it would burn clean.”
- No rare earth metals dependence—practical on U.S. soil.
Why the U.S. Private Sector is Leading:
- TAE is ahead due to private sector initiative; government was “hostile toward nuclear for so long” (43:00).
- Only serious “competitor” is China, not another company.

6. California’s Dilemma: Innovation but Not Implementation

(Starts ~44:52)

Irony:
Technology originated in California (Irvine, UC Irvine) but cannot be deployed there due to regulatory and political hostility.

“California is a place for death and destruction and not a place for a technology company like ours to thrive in.” – Devin Nunes (52:25)
Site Selection:
The first commercial fusion plant will “not be built in California.” Instead, TAE/Trump Media will seek a state with favorable business and political conditions.

7. Closing Thoughts & Notable Moments

Victor misnames Devin Nunes as ‘Devin Newsom’ (20:06)—both laugh.
Medal of Honor/Medal of Freedom mix-up:
Hanson congratulates Nunes for the Medal of Honor; Nunes jokes, “I wasn’t killed. Not yet, at least.” (55:45)

Notable Quotes & Timestamps

On Trump’s Work Ethic:

“He just flat out works everybody else...I've never seen a president work this hard.”
– Devin Nunes (11:20)
On the Left’s Shift:

“Extreme liberals have been replaced by neo-Marxists who are political tacticians...almost Stalin-esque.”
– Devin Nunes (14:00)
On China’s Strategy:

“China now is producing three to four times the amount of power that we do as a country.”
– Devin Nunes (26:40)
On Fusion’s Urgency:

“Whoever cracks this code…is going to own the global market.”
– Devin Nunes (46:39)
On California’s Decline:

“California is a place for death and destruction and not a place for a technology company like ours to thrive in.”
– Devin Nunes (52:25)
Light-hearted moment:

“Sorry, I wasn’t killed. Not yet, at least.”
– Devin Nunes (55:45)

Key Timestamps

04:38 – Start of main content, Trump’s polling and economic context
06:10 – Historical difficulty for party majorities
09:30 – What messaging wins swing House seats
13:15 – Evolution of the Democratic Party
18:01 – Why “bad policy” can succeed electorally in California
21:10 – Truth Social’s origins and Big Tech censorship
24:20 – Being blocked from app stores and regulatory battles
26:40 – U.S. vs China in energy policy
30:08 – Entering the fusion power race, TAE merger explained
33:18 – Tech/science behind fusion power and project timeline
41:35 – Reaction to AI companies, modular reactors, and competition with China
44:52 – The irony of California’s innovation but inability to implement
52:25 – Nunes declares TAE’s future won’t be in California

Summary Table

| Segment | Topic | Quote/Highlight | Timestamp | |---------------------|-----------------------------------------------------------------------|-------------------------------------------|------------| | 1. Political | Why it’s hard for GOP to keep House in 2026 | “Defy history...possible” | 06:12 | | 2. The Left’s Shift | Neo-Marxism and Democratic Party’s new identity | “Almost Stalin-esque” | 14:00 | | 3. Truth Social | Battles with Big Tech, free speech | “Tip of the spear...open the Internet” | 21:10 | | 4. Fusion Power | The merger, project magnitude, timeline | “Manhattan 2.0” | 32:00 | | 5. Race with China | U.S., China, and the global energy race | “Only country...China” | 43:00 | | 6. California | Loss of innovation leadership, regulatory flight | “Not a place...to thrive in” | 52:25 | | 7. Lighter moments | Name flubs, Medal of Freedom joke | “Not yet, at least” | 55:45 |

Takeaways

The 2026 midterms will be a historic test for Republicans—success depends on a strong economy, strong international position, and effective communication at the local level.
The Democratic Party, in Nunes’ view, has become dominated by far-left, neo-Marxist elements more interested in tactics than traditional liberalism.
Truth Social and Trump Media are now targeting the “crown jewel” of new infrastructure: fusion energy, seeing it as both a strategic imperative and a business opportunity in the U.S.-China rivalry.
Despite its roots in California, the next great American fusion project will go elsewhere due to the state’s political and regulatory climate.
The fusion effort is likened to a “Manhattan Project 2.0”—a must-win race for U.S. competitiveness and security.
Throughout, the tone is direct, occasionally humorous, and unapologetically partisan.

Podcast Summary

Overview

1. Political Outlook: Can Republicans & Trump Defy the 2026 Odds?

(Starts ~04:38)

Historical Challenge:
Devin Nunes explains it's “very difficult for a majority in Congress to keep that majority when you have the same president,” recalling his first elections during the Bush years and subsequent history with Obama and Trump (05:40).

"President Trump has to defy history, which is possible, because it has happened." – Devin Nunes (06:12)
Key Factors for Success (06:30–09:30):
- The economy is the number one issue; the “big beautiful bill” builds off Trump’s tax reform, making the tax code simpler and driving capital deployment.
- Strong economic growth, noted at “robust economic growth that surprised everybody in the third quarter.”
- Combined with strength abroad, these factors position Republicans to “defy all the odds and potentially win.”
House Races Layout:
Only about 30-50 seats are truly competitive due to redistricting; extreme political gerrymandering by both parties has concentrated real contests.

"With a two or three seat majority the Republicans have now, this thing could go either direction..." – Devin Nunes (07:50)
Winning Message (09:30–11:00):
Good candidates, local focus, emphasis on strength abroad and a growing economy are essential. Nunes predicts either party will have, at most, a 10-seat majority.
Trump’s Work Ethic:
Trump’s relentless pace distinguishes him.

“They don’t actually give him credit for the one thing that is most important...he just flat out works everybody else...I've never seen a president work this hard.” – Devin Nunes (11:20)

2. The Transformation of the Democratic Party

(Starts ~11:46)

From Liberalism to Neo-Marxism:
Nunes outlines the shift from explainable left-wing positions (Barney Frank era) to modern-day “neo-Marxists who are political tacticians...almost Stalin-esque.” (13:15)

“Barney Frank...believed in what he was talking about...The Barney Franks have been replaced by people that are extreme left but with no ability to explain their politics.” – Devin Nunes (14:00)
The Impact of ‘The Squad’:
AOC’s upset of Crowley becomes a symbol of this ideological shift (15:09).
The Democrats now champion causes from extreme identity politics to radical immigration stances, often in ways Nunes says “result in death and destruction.” (16:30)
California as a Case Study:
Nunes and Hanson discuss how “Marxism” works electorally in California:

“The worse the state does, the worse the policies are, the more the people in California say, ‘wow, this is great. I want higher gas prices, I want higher electricity prices.’” – Devin Nunes (18:01)

Hanson highlights the state’s overwhelming welfare recipient percentage, exodus of the middle class, and polarization between rich coastal elites and those dependent on entitlements (19:18).

3. Truth Social’s Evolution and Free Speech Fight

(Starts ~21:10)

Building out of Necessity:
Nunes details how Truth Social became the “tip of the spear” for free speech, standing up the platform after Trump and others were banned or shadow-banned by “Big Tech.”
Censorship Challenges:
- French hostility toward Rumble (a partner).
- U.S. government hostility via prolonged SEC regulatory battles (“We had to fight the SEC for nearly three, three over three years.” – 24:20).
Growth Despite Obstacles:
- Initially blocked from Google Play Store, full access achieved by late 2022.
- Public listing delayed, creating a capital shortfall, which made the company “stronger.”
- Finally went public in spring 2024 and raised $2.5B by summer 2025.
Mission-Driven Expansion:
Now combines social media, global streaming, and major media partnerships.
The Move into Energy:
Cites unsustainable American energy policy when compared to China:

“China now is producing three to four times the amount of power that we do as a country. It’s a lot cheaper...Windmills, solar panels don’t work.” – Devin Nunes (26:40)

4. Trump Media’s Bet on Fusion Energy

(Starts ~30:08)

Why Fusion, Why Now:
U.S. must meet exploding power needs from AI; China is outproducing the U.S. in cheap, reliable energy.

“Our weak link is not the technology and not the brain power...but it’s power.” – Victor Davis Hanson (31:10)

Chinese government is building multiple coal/nuclear plants per month, flooding the West with subsidized green tech while not using it themselves.
Scope of the Challenge:
“Something equivalent to the Manhattan Project or Hoover Dam...multi, multi-billion if not a trillion dollar agenda.” – Hanson (32:00)
TAE Technologies Merger:
- TAE is the world’s premier fusion company (33:18).
- Roots in 1990s academic research; funded by Schwab, Google, Chevron.
- Five functioning prototypes; ready to move to commercial scale.
Investment and Timeline:
- $2.5B in capital for acquisition, further investment needed.
- First 50MW commercial reactor construction to begin 2026.
- Future modular reactors sized 350–500MW, “competitive to gas and coal.”
“Once you prove that out...whoever cracks this code...is going to own the global market.” – Devin Nunes (46:39)

5. Fusion’s Promise and the Race with China

(Starts ~41:35)

Fusion vs Other Technologies:
- Modular, relatively small footprint.
- Uses boron, “not radioactive and it would burn clean.”
- No rare earth metals dependence—practical on U.S. soil.
Why the U.S. Private Sector is Leading:
- TAE is ahead due to private sector initiative; government was “hostile toward nuclear for so long” (43:00).
- Only serious “competitor” is China, not another company.

6. California’s Dilemma: Innovation but Not Implementation

(Starts ~44:52)

Irony:
Technology originated in California (Irvine, UC Irvine) but cannot be deployed there due to regulatory and political hostility.

“California is a place for death and destruction and not a place for a technology company like ours to thrive in.” – Devin Nunes (52:25)
Site Selection:
The first commercial fusion plant will “not be built in California.” Instead, TAE/Trump Media will seek a state with favorable business and political conditions.

7. Closing Thoughts & Notable Moments

Victor misnames Devin Nunes as ‘Devin Newsom’ (20:06)—both laugh.
Medal of Honor/Medal of Freedom mix-up:
Hanson congratulates Nunes for the Medal of Honor; Nunes jokes, “I wasn’t killed. Not yet, at least.” (55:45)

Notable Quotes & Timestamps

On Trump’s Work Ethic:

“He just flat out works everybody else...I've never seen a president work this hard.”
– Devin Nunes (11:20)
On the Left’s Shift:

“Extreme liberals have been replaced by neo-Marxists who are political tacticians...almost Stalin-esque.”
– Devin Nunes (14:00)
On China’s Strategy:

“China now is producing three to four times the amount of power that we do as a country.”
– Devin Nunes (26:40)
On Fusion’s Urgency:

“Whoever cracks this code…is going to own the global market.”
– Devin Nunes (46:39)
On California’s Decline:

“California is a place for death and destruction and not a place for a technology company like ours to thrive in.”
– Devin Nunes (52:25)
Light-hearted moment:

“Sorry, I wasn’t killed. Not yet, at least.”
– Devin Nunes (55:45)

Key Timestamps

04:38 – Start of main content, Trump’s polling and economic context
06:10 – Historical difficulty for party majorities
09:30 – What messaging wins swing House seats
13:15 – Evolution of the Democratic Party
18:01 – Why “bad policy” can succeed electorally in California
21:10 – Truth Social’s origins and Big Tech censorship
24:20 – Being blocked from app stores and regulatory battles
26:40 – U.S. vs China in energy policy
30:08 – Entering the fusion power race, TAE merger explained
33:18 – Tech/science behind fusion power and project timeline
41:35 – Reaction to AI companies, modular reactors, and competition with China
44:52 – The irony of California’s innovation but inability to implement
52:25 – Nunes declares TAE’s future won’t be in California

Summary Table

Takeaways

The 2026 midterms will be a historic test for Republicans—success depends on a strong economy, strong international position, and effective communication at the local level.
The Democratic Party, in Nunes’ view, has become dominated by far-left, neo-Marxist elements more interested in tactics than traditional liberalism.
Truth Social and Trump Media are now targeting the “crown jewel” of new infrastructure: fusion energy, seeing it as both a strategic imperative and a business opportunity in the U.S.-China rivalry.
Despite its roots in California, the next great American fusion project will go elsewhere due to the state’s political and regulatory climate.
The fusion effort is likened to a “Manhattan Project 2.0”—a must-win race for U.S. competitiveness and security.
Throughout, the tone is direct, occasionally humorous, and unapologetically partisan.

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Victor Davis Hanson with Devin Nunes: How Republicans, Trump Can ‘Defy All The Odds’ in 2026

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Summary

Podcast Summary

Overview

1. Political Outlook: Can Republicans & Trump Defy the 2026 Odds?

2. The Transformation of the Democratic Party

3. Truth Social’s Evolution and Free Speech Fight

4. Trump Media’s Bet on Fusion Energy

5. Fusion’s Promise and the Race with China

6. California’s Dilemma: Innovation but Not Implementation

7. Closing Thoughts & Notable Moments

Notable Quotes & Timestamps

Key Timestamps

Summary Table

Takeaways

Summary

Podcast Summary

Overview

1. Political Outlook: Can Republicans & Trump Defy the 2026 Odds?

2. The Transformation of the Democratic Party

3. Truth Social’s Evolution and Free Speech Fight

4. Trump Media’s Bet on Fusion Energy

5. Fusion’s Promise and the Race with China

6. California’s Dilemma: Innovation but Not Implementation

7. Closing Thoughts & Notable Moments

Notable Quotes & Timestamps

Key Timestamps

Summary Table

Takeaways