This week we're joined by historian Niall Ferguson to help me make sense of Iran’s unprecedented wave of protests. We talk about why this moment feels different to previous uprisings, the regime’s growing crisis of legitimacy, the limits of sanctions, and how the long shadow of 1953 still shapes everything in Iran. We also look at what Trump’s “maximum pressure” could mean, and the risks posed by any form of U.S. intervention. Learn more about your ad choices. Visit megaphone.fm/adchoices