In Season 3, Episode 3 of Industry, "It," the plot thickens with Lumi's recent public debut under scrutiny. As the characters head to the climate conference in Switzerland, the fallout from Lumi's IPO casts a shadow over Pierpoint and its employees. The episode dives into the tension surrounding Lumi’s valuation and the doubts emerging within Pierpoint about the wisdom of their decision to take the company public.
The conference setting serves as a backdrop for high-stakes drama, with all eyes on both Lumi and Pierpoint. The episode explores the ramifications of the IPO on both companies’ reputations and financial stability, heightening the drama as characters grapple with the consequences of their actions and the shifting dynamics in the industry.
With Eric, Yasmin, and Robert heading to Switzerland on a private jet, Yasmin questions her and Robert's presence, while Henry arrives and awkwardly displaces the Pierpoint team to accommodate his friends, though he invites Yasmin to stay with him upfront. This awkward interaction sets the tone for the complex mix of personal and professional dynamics at play.
Upon arrival at the hotel, Eric and Robert face a booking mishap that forces them to share a room, while Petra and Harper also check into their accommodation. The hotel setting serves as a hub for various interactions. Anna confronts Eric about Lumi’s plummeting stock price, signaling increasing tension between Pierpoint and Lumi.
Robert’s networking efforts take him to the hotel sauna, where he meets Pierpoint analyst Frank. Robert is concerned about a potential negative recommendation on Lumi stock and contemplates whether Frank might be swayed to help. The scene ends ambiguously, leaving viewers to wonder if Robert will offer something in return for Frank’s favor.
Later, Eric and Robert share a bed, leading to a candid conversation about Robert’s relationship with Yasmin. Robert dismisses it as merely platonic, but the complexity of their situation is clear. Meanwhile, Harper makes a bold move at the hotel gathering, introducing herself to Otto Mostyn and other potential investors. Yasmin’s attempt to help Harper by finding Petra’s track proves beneficial when Otto shows up with an investment offer, though Petra is initially furious with Harper for her impulsive actions.
The panel discussion about Lumi turns contentious when a recommendation to hold the stock is announced, creating a negative impression. Harper’s critical remarks during the Q&A further strain relations, but her subsequent conversation with an interested investor provides a glimmer of hope. Petra’s frustration with Harper’s approach turns to relief when Otto’s investment materializes, signaling a win despite the earlier chaos.
Yasmin’s emotional confrontation with Henry by the hotel pool reveals his deeper struggles with mental health and his connection to Lumi. Henry’s vulnerability and his admission of suicidal thoughts add a layer of complexity to his character, contrasting sharply with his professional facade. His subsequent decision to sell his Lumi stock hints at a shift in priorities.
Eric’s encounter with Susie, a sex worker who demands $20,000, and his subsequent embarrassment when she publicly reveals him as Robert Spearing adds a layer of personal scandal to the professional drama. The discovery that Susie is upset with Eric further complicates his situation.
The final twist occurs when Eric finds himself in a meeting with Petra and Harper, who reveal their plan to have Pierpoint as their broker. The revelation that Otto Mostyn is now invested in their fund shakes Eric. The episode concludes with Robert and Eric witnessing a highly personal moment between Henry and Yasmin, suggesting that the boundaries between personal and professional are rapidly disintegrating.
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