This is one of those rare interviews where granular substance surfaces.  On a particular issue Trey Gowdy is a valuable SME.  Gowdy has seen all of the classified documentary evidence that surrounds the July 31, 2016, FBI counterintelligence operation against the Trump campaign to include Crossfire Hurricane FISA documents, and issues related to “spygate”.  Gowdy was one of the few who reviewed all source documents.
In this interview Gowdy draws a distinction between 2016 CH (spygate) and what Andrew McCabe is discussing; highlighting how the investigative issues McCabe continues to talk about are the two additional FBI investigations, one counterintelligence and one criminal, McCabe started on May 10th, 2017. WATCH:


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For sake of brevity there are essentially three investigations: ♦One counterintelligence investigation known as Crossfire Hurricane, began on July 31, 2016, into the Trump campaign and possible Russia involvement.  ♦One counterintelligence investigation that McCabe started on May 10th, 2017, (Trump as the target w/Russia); and ♦one criminal investigation (Trump obstruction) that also began on May 10th, 2017.

In the first investigation (Crossfire Hurricane), presumably the defensive -albeit obtuse- position of the FBI is that Trump wasn’t a specific target.  [It would be too toxic for the Obama DOJ and FBI to directly admit they were investigating an opponent’s political campaign] However, in the second set of McCabe personal investigations, Trump was definitely the target.
If we take what Gowdy is saying; and overlay Robert Mueller absorbing McCabe’s investigations; and then overlay Devin Nunes recent statements about the August 2nd, 2017 Rosenstein origination memo; a picture emerges.
Likely the first task Mueller took on was the immediate two McCabe investigations, from May 10th, 2017, where Trump was the direct target.  However, as that phase of the Mueller probe found nothing of substance (likely with the August 2nd clarification memo), Mueller evolves into investigating the original premise behind 2016 Crossfire Hurricane (the trump campaign) which contained specific targets (Flynn, Manafort, Page, Papadopoulos) and specific evidence (Ohr/Steele Dossier).
Targets of 2016 “spygate”, aka Crossfire Hurricane:

Accepting the absurd McCabe premise that President Trump was an asset of a foreign government, it would stand to reason a certain level of urgency would dictate the investigative process of Robert Mueller.
Mueller likely first investigated and concluded the two McCabe claims.
This would reconcile with John Dowd recently telling ABC that Mueller informed President Trump’s counsel that the President was no longer a direct “target” of the investigation, yet the investigation would continue with President Trump as a “witness/subject”.

PHILLIPS: Do you respect what Mueller is doing? I know you know Mueller well.
DOWD: Well, I respected it in the beginning. And I started out. And I– it’s my s– my style is I always trust the other side, until I didn’t. In my opinion, on March 5th [2018], we were done. He had everything. He said he had everything. He told me that no one had lied. He told me they had every document we asked for. He told me that it was nothing more. He told me that the president was not a target. That is, he did not have any exposure, that he was a witness subject, which is perfectly normal for someone’s conduct you’re looking at, but they don’t have exposure. (link)

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