Orbán Is Gone. Trump's Closest European Ally Just Lost. Here Is What History Teaches Next.

As I was finishing this newsletter this evening, Hungary was voting. I added a brief note at the end saying we would have to wait for results. I did not have to wait long.

Tonight, Viktor Orbán conceded. After 16 years in power, after rewriting Hungary’s constitution, dismantling its judiciary, capturing its media, and turning a European democracy into w…