I’ve been looking forward to discussing this episode with y’all because I love it when shows do location-specific episodes. We’re getting the “Industry” version of “everyone goes to a business conference, and some wild shit goes down.” (See also: the Argestes episode of “Succession.”) People get snubbed, we see a kind of hierarchy of the finance world beyond Pierpoint and how the characters fit into that, and a lot of backroom deals may (or may not be) happening. It’s the perfect setting for an entire episode. — Marina

Absolutely. It really echoes what the series' co-creators said when they alluded to Season 3 showing how Pierpoint falls into a broader industrial complex. Because we see that everyone is wary of the bank. When Yas met Henry playing handball last episode, you can recall when her father’s old friends Otto and Lord Norton asked, “Oof, is Pierpoint still solvent?” It’s clear that Pierpoint’s prestige is dwindling following the Lumi IPO. No one is sure whether the pivot to green investing is actually delivering dividends, and if Pierpoint, the lead underwriting bank, is up to task. — Ruth

As soon as I saw them getting on the PJ, I was like, "Oh, snap, we’re in for a bumpy ride." Robert and Eric getting sent to the back of the jet made me laugh, but I was immediately worried about Yasmin. I definitely was glad to know that we were along for the ride. — Erin

“So, I’m not allowed to have my own ideas here, but if I leave and have my own ideas, she wants the money I make from them,” says Petra. Oooo baby, this is one of a thousand reasons why I hate non-compete agreements, and my disdain for Anna Gearing continues to grow. I’m happy these two are teaming up and Harpsichord is back in the mix, but I am interested in seeing how they move considering their differing ideologies. We know last episode Petra warned Harper not to cheat and abandon the vendetta against her old employer, so let’s hope that wasn’t foreshadowing. — Ruth

Let’s talk about non-competes for a beat. It’s so crazy to me that they’re a thing. A philosophy clause at FutureDawn? Oh, give me a break!!! Non-compete agreements also piss me off in media. Like, if I’m a journalist, don’t you fully expect for me to still be a journalist after you lay me off (which I guess now that’s not necessarily a given, considering the state of things). But damn, I gotta work somewhere. Anyway, I figured it wasn’t going to be long before Petra and Harper got their asses out of that place. The “Jerry Maguire” goldfish mention made me laugh so hard. Jerry literally fishes the goldfish out of the tank as he leaves his job to start his own agency. “The fish have manners,” Jerry says, before asking if anyone else in the office is coming with him. (Only Dorothy does.) As we see later in the episode, Harper is gonna do anything to be a success, good manners be damned. She shakes the table at the conference! She definitely has a way of treating people, but good? Ehh, not necessarily! — Erin

We don’t often see Harper, Rob and Yasmin in the same place anymore, so it was nice to see the gang back together again, getting drinks before they all head off to the conference. Also, if you caught it — we find out where Gus (David Jonsson) is now: Per Rob, he’s working in Silicon Valley. Interesting little detail! — Marina

The gang’s all here! Felt very Season 1-coded, lest we forget the brief love triangle between these three. When I didn’t see Gus in any of the marketing materials (key art, trailer, etc.), I knew it was because he’s booked and busy. The “Alien Romulus” and “Rye Lane” star shared in a British GQ interview that it largely came down to scheduling conflicts. I’ll miss him terribly, though; Gus’ character was so well-written, so complex and quite close to home. Now, I’m trying to figure out who that man is hanging around Harper at that bar lol! If that’s her new boytoy, she looked so repulsed by him. — Ruth

I want more scenes with all of them together! That’s the only thing I’ve really been missing throughout these first few episodes. — Erin

Hoo boy, Eric’s arc in this episode is a lot. This man is unwell. First, we see he’s still sleeping with Yasmin’s lawyer (awkward), who calls him a fuckboi after he gives her some terribly cliché platitudes to try to break up with her (“typical fuckboi prevarication” is an excellent piece of writing).

He’s also being made Pierpoint’s sacrificial lamb in the Lumi mess. I found his exchange with Wilhemina very revealing, especially when she tells him: “You know, when you make partner, they make you seem like you’re at the top of the ladder. But you’re actually just at the bottom of a new one.”

At the conference, the panel goes horrifically for him, thanks to Harper going rogue. If that were not enough, he hires a sex worker while pretending to be Rob, does not pay her, and is very hungover the next morning, when meeting with Harper and Petra. Oh, and he didn’t get to see any snow.

A couple of incredible Ken Leung acting moments I want to shout out: “You’re an old man.” “I don’t fuck like one though, right?” Also, the look of resignation he gives on the plane ride to the conference, when he impulsively orders scotch, then realizes he should lay off the booze. And finally, his hysterical laughter when Harper points out he still has glitter (from the sex worker) all over his face. I’ve always considered Leung the MVP of this show, and he continues to knock it out of the park every time (of course, I gotta pull out another baseball metaphor). — Marina

Yes, to all of this! I love that line from Wilhelmina because when it comes to corporate, client-facing service, you will always have to answer to someone, no matter how senior you think you are. I’m still wheezing at the room booking mishap and Eric saying that he’s a “VIP” on a panel. The hostess asks which country he represents at one of the myriad conferences happening at the hotel and when he said, “Papua New Guinea,” I yelled. To see Eric forcibly humbled throughout this entire episode — roasted for his sexual vigor (or lack thereof), sharing a room with Robert, and flopping on the panel — I was thoroughly entertained.

But the fear of God in his eyes when Harper spoke up and asked that question?! “Why is Pierpoint holding this ideas festival in the shadow of a green energy conference…Is this just the media financial complex patting itself on the back?” she says, then reveals that Frank published a hold on Lumi. Then, the palpable tension and hatred between them at that breakfast? “Eriiiic, look at me.” THAT WAS ACTING! I need an Emmy nomination for Ken and Myha’la STAT! — Ruth

That “look at me” line??? I can never hate you, Harper Stern. NEVER! — Erin

There’s a theme in this episode of Yasmin being dismissed by so many men: Henry sees her as his plaything and doesn’t respect her as a professional, she also still feels sidelined by Eric, and that investor/producer nepo baby keeps hitting on her and then gossips about her dad. It’s a pretty humiliating few days for her — until predictably, she and Henry become, shall we say, an item. — Marina

“Henry has a taste for shiny, new things,” said his assistant Katie. I pray she’s not speaking from experience, but I’m not surprised their relationship has taken a turn. Henry acquired Yas’ number, disturbed her outside of working hours, and first met her IRL completely shirtless. Then, Yas played into his urine kink — and welp, in the eyes of men like Muck, it’s a wrap. He told Yasmin to her face, “You were never here in a professional capacity,” and I can imagine her blood was boiling. This is a trip funded by her employer, for her employer; to me, that’s a professional trip! Nonetheless, there is something that keeps Yas in community with these terrible men, be it paying off her father’s debt or accepting that this is the class she was born into. For Yas, it might be easier just to have a vile man on deck to take care of your needs than attempt to build your own life & independence. It’s a luxurious prison of sorts. — Ruth

That line “you were never here in a professional capacity” made me so, so mad. It’s like her mind was completely wiped after last week’s episode and Yasmin orchestrated that whole photo-op with those big wigs to help the market settle. And Ruth, yes, her boss literally asked her to go! This. Was. A. Work. Trip. Also, Harper gets a lot of misogynistic rudeness from Otto as well when she meets him. "You're a diminutive woman." But of course Harper hits right back, "I prefer the feminism where women can be cunts." — Erin

I did a double take at the guest star in this episode: Joel Kim Booster! I don’t think I’ve ever seen him in a drama before, so this is exciting new territory for his career. His character, Frank, catalyzes a lot of the chaos of this episode, going rogue by publishing a recommendation to hold off on buying Lumi stock, essentially putting a nail in the coffin of the IPO. Translation: Pierpoint’s in-house guy telling people to not buy stock in his own company’s buzzy, new investment. Messy! (Side note: I summarized what happened the best I could in layman’s terms. This is such a continual strength of the show: Even if you don’t really know the ins and outs of what financial stuff is happening, you can still understand the dramatic stakes.)

Also, can we talk about the homoerotic vibes of him and Rob at the sauna?! — Marina

I would love to be a fly on the wall to listen to the conversation between Joel and his management team to get him cast in “Industry.” I absolutely adore him in “Loot” and I wouldn’t be surprised if he’s been a longtime fan of the show like Kit Harrington. On the note of your translation, Marina, I think that’s a phenomenal financial interpretation and a great read of the stakes here. In my head, I was like, “Oh, this is like if a Bloomberg reporter basically told folks not to invest in the company’s latest brainchild. Now, the editorial arm — which abides by a different set of ethical standards — is at odds with the traders, who are determined to market this new investment as profitable by any means necessary.”

That sauna scene was giving “Challengers,” hands down. When Frank said that he knew who Robert was because “we have a WhatsApp where we share the directory photos of all the hottest and straightest Pierpoint employees”? Oh, I know Joel must’ve been elated to deliver that line. Then he said later, “Look, I may work for an institution, but I’m not institutionalized.” He ate that. And honestly, that separation is sort of the goal. I’m at the institution, not of it. — Ruth

“Do you think you could intro me to Otto?” being the first thing that comes out her mouth when she sees Yas is very on brand. It’s clear that Yasmin truly relies on Harper for some deeper emotional support and resilience, but I can’t say Harper relies on Yas for anything more than her pliability and access. Realistically, this is not a friendship anyone should seek to emulate. Yas’ naivete is evident in the unequal power dynamic — and the fact that Harper refers to her as such – but it’s clear that she wants the secret sauce that Harper had to bond with Eric. There’s absolutely an underlying jealousy. We’ve seen these two go at each other over the past 3 seasons, but I’m inclined to believe they have developed a trauma bond at this point. — Ruth

That’s exactly it. Each of them wants something from the other, and it keeps their professional bond going, but there also does seem to be a little bit of an emotional tie here, and I’m dying to see how strong it is with what I imagine is a bumpy ride through the rest of the season. — Erin

Harper, girl…I can’t keep defending you, but I’ll keep defending you. *sighs*

See, this is what I was talking about when I mentioned differing ideologies. Petra was just about to pack it up and go home, then Harper probably thought to herself, “Nope, this is a last ditch effort. I’m more than an assistant and need to get back to trading.” Throwing a Hail Mary, she announced their new fund, which has no name or marketing deck to show for it, with such confidence in that room of big wigs. Initially, it looked like Harper spoke too soon, but she wanted a new job badly and could not afford the idea of Petra giving up. Her desperation coupled with impatience and intuition ultimately served her well since they got a meeting with Otto, but Harper cannot keep moving like this! “No. Unilateral. Decisions.” Petra needs an actual business partner, not another burden. — Ruth

To bring it back to the “Jerry Maguire” line earlier in the episode: Harper will never idly follow any person. She has to be able to do what she thinks is best at any moment. She is no goldfish! — Erin

Every week, we talk about how great the show’s writing is, so why not have a recurring segment where we talk about a few of our most memorable lines each episode. My picks this week: these two from Petra. “8000 francs on my personal card, and it looks like something Trump vomited up in the ‘80s,” and “Let’s get Jesus out of those sandals and into some Jordans!” — Marina

Two scenes stand out to me: the pool scene and the breakfast.

When Yas said, “I haven’t had sex in five months,” Henry said, “And yet you’re still alive?” then Kit sauntered out of the pool like that…WHEW. Apart from the sexual tension, I think I enjoyed the exchange between these two because we see that they have the same “ultra-wealthy-kid-scorned-by-parent” wounds. You see why they’re drawn to each other, besides the obvious physical attraction.

Now, the breakfast on the final day of the ESG summit? Oh, the tension was palpable. Eric was quite literally trembling with fear and anger. Harper taunts her old boss saying, “I expect you to answer the phone every time I dial. First class service. And eye contact.” This is what getting your lick back looks like in action. Sweet, sweet revenge and an impeccable performance. — Ruth

Harper telling Yasmin: “Bitch, you know I always wanted you to work for me.” I love it. I want Harper to have all the power. Am I the problem? Maybe!?

Also, when Harper says to Eric, “Your face is shimmering. You have glitter all over your face.”— Erin