“The phrase ‘identity politics’ is a weaponization of the Democrats’ structural advantage in elections from now until eternity,” says Stacey Abrams.In this live interview from 2019’s Code conference, Kara Swisher and I sat down with Abrams and her campaign manager, Lauren Groh-Wargo. Abrams lost the 2018 Georgia gubernatorial election, but became a Democratic superstar in the process. She was tapped to give the party’s response to Trump’s State of the Union, and she’s mentioned often as a top-tier vice president pick for 2020, and perhaps a candidate for the presidency herself.This conversation makes it clear why. Abrams says more interesting things in an hour than most politicians do in a year. Her take on identity politics is worth the conversation alone, but she also offers one of the clearest discussions of the role of regulation in an advanced economy I’ve heard. We also talk about her 2020 plans, why she’s not running for Georgia’s Senate seat, why she thinks Democrats aren’t in as much Senate recruiting trouble as the conventional wisdom holds, whether America is still a democracy, and much more.It’s particularly interesting to hear Abrams alongside her longtime friend and campaign manager, Groh-Wargo, who’s now the CEO of Fair Fight Action, the organization they founded to push for free and fair elections. Where Abrams is effortless with narrative, Groh-Wargo is tactical and specific. Listening to them play off each other, you get a much clearer sense of the strategic partnership and electoral theories at the core of Abrams’s 2018 run, and that might power whatever she does next.