Why it matters: Some of the president’s advisers act like they think he can still overturn the election results — because they remain on the payroll and don’t have another choice. But talk to them privately, and many say Rudy Giuliani and his team are on a dead-end path.

The true believers are Giuliani and his sidekicks — Jenna Ellis and Sidney Powell — and not many others. Even Jared and Ivanka think this is going nowhere, people who’ve spoken to them told Axios.

Some administration officials say it’s borderline impossible to have a serious policy conversation these days without Trump turning it into a rant about the Dominion voting machine conspiracy.

Most hardcore Trump sources have psychologically bailed, and are just waiting out the storm.