In “IT”, the third episode of Industry Season 3, now we see further deeper into the lives of Harper, Yasmin, Robert and Eric on their ESG (Environmental, Social, and Governance) conference in Switzerland. Of course, this new environment looks a bit more glamorous than the previous one, but it is still about the gradual change and, in some cases, personal ruin of each character. So let us take a step by step look at this episode which deals with finance, relations, and ethical dilemmas.
The episode starts with Yasmin who receives the formal invitation from Sir Henry Muck (Kit Harington) to attend the high profile event of ESG. Initially, she wonders why she has been summoned, more so under the circumstance that Eric Tao (Ken Leung) is the face of Pierpoint at the conference while Robert (Harry Loty)) has got a part with Lumi. But soon the audience realizes that there is more than business in between Muck and Yasmin. Yasmin soon discover this is not a business trip when they flew to Switzerland in Muck’s private jet for her to be his mistress. At one point during the flight Muck starts shifting closer to Yasmin and making suggestive gestures without touching her.
During the flight, Yasmin Kara-Hanani (Marisa Abela) gets acquainted with one of the most irritated characters of the season — arrogant rich DJ. Yasmin recognized the DJ at least as by his last words implying they probably met at one of the high society parties or clubs. While Yasmin attempts to ignore this and move on, the DJ does not let her and finally says he knows about her family’s problems. At a party later that same night when Yasmin, self-consciously, returns the insulting remark at the DJ admitting that she killed her missing father the DJ repeats the remark in front of the guests.
However, the relationship between the two characters changes when Yasmin and Muck meet at a swimming pool of the hotel. This is an emotional and private encounter during which Yasmin also discovers elementary facts about Muck such as his father’s suicide and his present condition of depression. This moment of vulnerability from Muck surprises Yasmin, who begins to consider the possibility of a deeper connection with him, despite her reservations.
Yasmin checks out a new man on the plane — a pompous rich DJ is one of the most dislikeable characters of the season. The DJ feels that they know Yasmin and if they do, then chances are they had probably met in one elite function or another. Despite Yasmin’s attempts to ignore the DJ, he continues to provoke her, and in the end he tells Yasmin that he is aware of the death of her parents. In an especially cruel line at a party later that evening, the DJ even tries to tease Yasmin about whether she murdered her missing father, thus making her feel even more uncomfortable in front of the visitors.
On the other hand, tensions of Yasmin and Muck’s relationship is developed when they meet each other at the pool of the hotel they are in. As Yasmin and Muck share a more intimate encounter in private she found out some basic statistical facts about Muck as well as knowing that his dad committed suicide due to the Muck’s depression. Yasmin too is disturbed when Muck becomes vulnerable at some point and this forms the beginning of her thoughts on whether to get closer with him or not. At the last episode of the series, Yasmin seems to reciprocate Muck’s affection by kissing him passionately while on-board a plane back to London with her colleagues, Eric and Robert as silent spectators.
But here also Yasmin has to deal with her conflicting feelings towards Muck while Robert and Eric have to overcome their difficulties in the course of the conference. Robert has been instructed to represent Lumi – a firm that Pierpoint had used an IPO to rescue from insolvency but is battling to cope with after the launch. While, at the same time, Eric gets an invitation to participate in the panel dedicated to ESG investments the day before the event and replace a certain senior executive who suddenly resigned.
Eric’s goal for the conference is to save Lumi from shutting down and to stop the worsening of the situation for Pierpoint. However, things turn out to be not simple as there is Frank Wade Pierpoint’s analyst who had planned to bring out a report on the Lumi’s stock. The problem is that Frank has to compile a “Buy” recommendation that Eric requires to fit into Pierpoint’s plans but Frank is a certain threat. Robert’s mission is to make friend with Frank and ensure he commits to supporting Lumi that creates a rather awkward moment when Robert finds Frank in a sauna. The encounter is left ambiguous, but the show hints at an intimate exchange between the two, adding another layer of moral ambiguity to Robert’s character.
However, this time, Frank posts a “Hold” recommendation during Eric’s panel, which makes the attendees panic, even though Robert tried his best to stop him. This decision results into the failure of the strategy that Pierpoint develops, whereby Europa Gas pulls out of its contract. Full of shame, Eric decides to have sex with a prostitute under Robert’s name, calling the man a subtle insult.
However, the real focus of the episode remains with Harper, and indeed her own manipulation plot. Petra has given Harper’s mind the plot to outcompete FutureDawn by launching their new hedge fund. Petra is annoyed with the fact that the money-related decisions are made by Anna and therefore, with the help of Harper, she tries to get the funding for the new business. Whenever the pair tries to obtain the funding at the ESG conference, the first scene illustrates it as a difficult task since Petra fails to convince investors.
In the panel Eric has, Harper takes a risk and make her move. This is despite the fact that such information was supposed to be kept secret; she publicly informs Petra that the two of them are starting a hedge fund. Moreover, not only does Harper weaken Petra’s cautious strategy but also embarrasses Eric in the presence of the whole audience. That is how Harper’s relentless desire for revenge on Eric blinds her to the solidity of the new fund that she and Petra are just in the process of building.
Petra is angry with Harper for such an initiative and decides to leave the conference. And then there is a twist to their lives, when a fox like Otto Mostyn invests in their business, takes a house on rent in their compound and scandalizes everyone in town with his behavior. Otto is immediately sold to Harper’s ruthlessness that he displays during the panel and provides them the 300 million dollars they require to start their fund. . It’s a twist of fate that rewards Harper’s risky behavior, setting the stage for her return to the world of high finance.
As the episode draws to a close, we see Harper and Petra visiting Eric to find him in a terrible condition after the night of partying. Having woken up irritated and with a sore head, still sticking sparkle to his skin and clothes, Eric is not ready to look into the eyes of Harper who now has all the power. Finally in a rather cruel twist of fate Eric finds himself waiting on Harper as she becomes now his business client. The final scene is a fitting revenge and final statement on Eric’s previous power over Harper’s position at Pierpoint.
This episode of INDUSTRY is no different with a complex story line and well developed characters it continues to explore the moral cost and personal consequences of working in this aspect of the finance industry. Specifically, Yasmin being a potentially immoral character, Robert being a man of grey morality, Eric’s demise, and Harper as a ruthless character makes the episode quite dark and focused on the characters.
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