Like many others, I'm still in a complete daze, but the post-mortems need to start - and here's the Guardian's Gary Younge kicking off with a careful, considered reaction.
Corbyn may have been widely disliked (though how he was perceived as a worse leader than Boris Johnson remains mind-boggling), but Labour's crushing defeat can't be attributed solely to him. Neither can Brexit. On the contrary, at the heart of Younge's article is the acknowledgement that there was no single factor - more a perfect storm.
What gives some hope and heart, though, is his plea for the party not to abandon the progressive principles of its manifesto - he makes a good case that retreating back to the centre would be knee-jerk folly.
(Thanks to Simon for the link.)