As a seasoned TV enthusiast who has spent countless hours immersed in the vast and varied landscape of small screen storytelling, I must say that “Industry” stands out as a unique and captivating gem in today’s saturated market. The series masterfully blends the gritty realism of Wall Street with the allure of the British aristocracy, creating a compelling narrative that resonates deeply with both the finance world insiders and outsiders alike.
As a longtime enthusiast of the captivating series “Industry,” I remember eagerly anticipating the release of its third season back in 2024. With my fingers poised over the keyboard and eyes glued to my screen, I clicked on the link for our special 2024 TV issue where this article was originally published. Now, four years later, as we approach the much-awaited premiere of Industry’s season three, I find myself revisiting this piece, which serves as a perfect reminder of the exhilarating journey that this show has taken us on.
Situated in the scenic South West England, where charming villages boast multi-million-pound country homes, lies a 16th-century private estate called Longleat House. Belonging to the Marquess of Bath, it will temporarily serve as the shooting location for an edgy TV series airing in late summer 2023, featuring a group of reckless investment bankers embroiled in sex and drug scandals. Adorned with vintage furniture and historical tapestries, this grand abode offers a stark contrast to the usual surroundings of these London-based colleagues, who are accustomed to the cold, high-pressure environment of their glass-and-fluorescent offices. Rest assured, they’ll manage to find ways to continue their drug use on location – specifically cocaine.
Towards the finale of the third season of ‘Industry’, a significant escalation in production, plot, and overall antics, we find some characters attending a grand dinner party at an icon of aristocracy. Among those present, two figures stand out, both adorned in formal attire: Harry Lawtey portrays Robert, the downtrodden working-class aspirant from ‘Industry’, whose refined appearance – sharp cheekbones and a distinctive curl of hair that the show’s makeup artist Mirna Curak takes special care to preserve – helps him navigate the banking sector. Marisa Abela, who plays Yasmin Kara-Hanani, a British Israeli Libyan heiress with exceptional skills in social maneuvering but questionable work performance, is also present.
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In addition to two previously seen characters, a new one makes an appearance who might be recognizable from ‘Game of Thrones’: Kit Harington, wearing the signature powder-blue bow tie of the Bullingdon Club, an elite and secretive Oxford men’s club. He is cast as Henry Muck, a green-energy entrepreneur debuting this season, often portrayed as a snobbish aristocrat. Robert has harbored feelings for Yasmin since the beginning, while she has manipulated him emotionally, psychologically, and sexually. In the early seasons, she gave him her underwear during an office party and made him climax on a mirror and consume his semen during the company holiday event. With Henry Muck joining the storyline, the dynamics between Robert and Yasmin become even more intricate. Robert is tasked with helping Henry with his company’s IPO, while Yasmin becomes the target of Henry’s affections. This kind of narrative would be typical of ‘Industry’, filled with class tension, explicit content, and a scandal involving this world’s equivalent of the ‘Daily Mail’. The uncle of Henry is, unsurprisingly, its publisher. This is his mansion.
In these luxurious workspaces, much like borrowing the keys to a Porsche owned by Warner Bros., the cast and crew of the Industry exhibit an air of confidence and control. The creators, Mickey Down and Konrad Kay, are at the helm for the first time this season, giving each other the shaka sign when they approve of a take. The set is illuminated by candles, paying tribute to Stanley Kubrick’s classic film, Barry Lyndon. A background actor stands near a cart laden with premium dairy goods, and the combination of people and candlelight gives off a strong aroma of melted cheese. Lawtey delivers a remarkable take, capturing yet another instance of Robert being subjected to emotional distress. He then proposes that he could do even better, and indeed, he does with the next take. On the screen, it seems as if his face is breaking apart.
The industry in question might prove challenging to define, as I frequently liken it to financial envelopes with dramatic flair, or visualize it as if Michael Mann directed a sophisticated drama like Gossip Girl. Kit Harington’s involvement marks a significant addition, suggesting the show’s increasing popularity within HBO. While its viewer base may be limited but vocal, this series is tailored for devoted TV enthusiasts who appreciate quality programming.
A new factor is at work in the entertainment industry, particularly after the American WGA and SAG strikes. While productions like “House of the Dragon” filmed under British contracts continued without interruption, they are now entering a market with reduced competition. This could potentially make HBO value these shows even more than before. Interestingly, HBO is currently lacking an ongoing contemporary dramatic series that it typically excels in. Shows such as “Succession,” “Euphoria,” and “The White Lotus” (which is still filming in Thailand) have concluded or are on hiatus, leaving a gap in their lineup. As Jane Tranter, executive producer of “Industry,” explains, “In the past, HBO shows didn’t gain significant traction until their third season, but once they did, they took off.” She hopes that audiences might be more open to new shows because they are eager to produce more if given the chance.
The world of work, or what we commonly refer to as Industry, has evolved and adapted over time, yet it’s managed to shape television according to its own lens – a lens that often portrays humanity in a rough-around-the-edges manner, laced with industry jargon. Before joining the series, Harington was already a fan of Industry. A few months after filming ended, he shared with me that he began watching it during lockdown periods caused by the pandemic. “Tone-wise,” he said, “it’s one of the most distinctive shows out there. I appreciate that they say, ‘We’ll plunge you into this and trust you’re intelligent enough to keep up.'” Upon learning about a new role being cast, Harington contacted his agent, met with the creators, and was subsequently invited to join the cast. “In Game of Thrones,” he told me, “actors would sometimes join who were fans of the show. Now the situation was reversed; I was a fan of the actors in Industry.” This kind of deal-making, a trader might approve, as it suggests that both parties have something valuable to offer each other.
Approximately a few months afterward, on the other side of the Atlantic, I met up for coffee in Boerum Hill with representatives from Industry: Myha’la, portraying the character Harper Stern, a paranoid and ambitious rising star, and Ken Leung as Eric Tao, her mentor-cum-rival. The show begins by focusing on Harper, who, despite having forged her college degree, manages to secure a job at Pierpoint & Co., a sinister version of well-known banks like Goldman Sachs or JPMorgan, in their British office. Eric, another outsider who has worked his way into the hierarchy, takes Harper under his wing and they embark on a long game of financial duplicity. At the end of the first season, Harper hints at betraying Eric but ultimately sells out another Pierpoint executive instead. By the close of the second season, when Harper is ensnared by a corrupt hedge fund manager played by Jay Duplass, Eric betrays her. In the finale, he exposes her forged degree to Pierpoint’s HR department, leading to her immediate termination (although you might wonder if they even have an HR team).
In the creation of Season 3 for Industry, Down and Kay found themselves in a predicament with the cliffhanger ending, briefly contemplating excluding Myha’la from promotional materials. However, they recognized this would be too much manipulation of the audience, so Harper returns more vindictive than ever. Initially distanced from Eric, their bond becomes increasingly unhealthy and obsessive.
On set, Myha’la and Leung share a strong bond, albeit with a more optimistic tone. Off duty, Myha’la preserves some of Harper’s intensity but maintains the friendliness that her character lacked, while Leung tends to be more contemplative. After three seasons and over five years of working together, they communicate effortlessly. “I feel so secure with you,” Leung expresses. “It’s a breeze when we’re listed together on the call sheet.” They first crossed paths in the U.K. during a reading of the show’s pilot, where Leung was an experienced veteran in film and theater, and Myha’la was fresh out of drama school. “You seemed — or I thought you were — as calm as a cucumber, dressed in all-white linen, smoking a cigarette against the wall,” Myha’la recalls. “And I was panicking, thinking, What am I doing here?” Leung doesn’t recall the panic. “I just remember the vibe,” she says.
The focus of Industry on the Eric-and-Harper relationship reflects both the show’s intrigue and its growth in popularity. Initially, the creators hadn’t intended for Harper to be Black; they had planned to introduce an American outsider at the bank instead, as a way to make things clearer for American viewers. However, after discussions in their first writers’ room, they decided to cast Harper as Black. When Myha’la was cast, Harper’s character was originally written to be more openly anxious than what is portrayed on screen. This didn’t seem authentic to Myha’la, as it didn’t align with how she believed a young Black woman would act. “My advice,” Myha’la says, “was never to let them see you sweat because you’re already disadvantaged.” Instead, Myha’la suggested that Harper should appear confident on the outside, while still feeling defensive and anxious inside. This adjustment altered Harper’s characterization significantly.
The bond between Eric, an Asian-American male, and Harper is strengthened by their shared experiences of marginalization within the dominant western power structure. In a professional setting, they’re often expected to fulfill dual roles: being helpful while also serving as symbols of acceptance. This dynamic is resented by both characters, yet they find ways to leverage it. The series itself doesn’t hold back on its critical stance towards diversity and inclusion initiatives in the corporate world. During an early board meeting this season, Eric expresses his disdain for Pierpoint’s 150th-anniversary celebrations, pointing out that the company’s founders had roots in slavery. Myha’la explains their connection: “They are two individuals who started from disadvantaged positions and are now trying to succeed in a foreign country. I can’t quite put my finger on it, but there’s a sense of survivor’s guilt between us – the feeling that our lives could have been so different if we hadn’t made certain choices, yet they remain the same.”
In the original script, the writers adjusted Yasmin’s story arc to highlight Abela’s other acting talents as well. Initially, Yasmin was portrayed as a privileged princess type, struggling in a cut-throat work environment but kept due to her influential family ties. Abela found humor in Yasmin’s privilege, particularly the running gag about her multilingual abilities (Arabic, Spanish, French, etc.). However, Abela requested more depth for the character, adding a touch of cunning and a hint of ruthlessness.
Absolutely, I’ve noticed a significant rise in fame for the main cast members of our favorite show. Although it may not be as buzzworthy as HBO’s Euphoria, these talented actors are certainly making their mark. Myha’la has graced the screen in Gen-Z slasher Bodies Bodies Bodies and the Julia Roberts thriller Leave the World Behind, Lawtey shared scenes with Christian Bale in The Pale Blue Eye and is set to work alongside Lady Gaga in the Joker sequel. Abela portrayed Amy Winehouse in Back to Black and will also appear in an upcoming Steven Soderbergh film. This kind of success brings a sense of nostalgia to Lawtey, who, like Robert, openly wears his emotions on his sleeve (while Lawtey seems more alert). During the first season’s filming, they formed a strong bond, taking a memorable trip to Brussels together on the Eurostar – “an unforgettable weekend in the heart of European diplomacy” – when Myha’la needed to leave Britain and reapply for her visa. “The fact that we’ve been able to grow together through the show, and then go our separate ways between seasons, has been incredibly special,” he shares with me. “We have a very supportive network for the three of us in our little WhatsApp group.”
Although St. Paul’s Cathedral dome is visible from the trading floor’s glass windows in Central London, the offices of Pierpoint & Co. are found on a soundstage within the renovated dockyards of Cardiff, Wales, approximately two hours away by commuter train. Over the past few years, due to government subsidies, abundant workforce, and affordable real estate, the post-industrial Welsh capital has emerged as a center for television production. The show, “Industry”, films some exterior shots in London, but the cast and team travel to Wales for several months every couple of years to film most of the scenes. Lawtey remarks, “Cardiff holds a unique spot in my heart. I adore it. I think I’m the only one who feels that way.”
In my experience, the production team’s meticulous recreation of the office environment is so authentic that actors joke about punching the clock for a real-life job. Executive producer Kate Crowther led me on a tour of Pierpoint that felt like a bank executive showcasing their workspace. Since we’re in the storyline for the series, the firm is commemorating its 150th anniversary with bronze accents adorning the fake marble walls. The company is making an effort to rebrand as socially conscious, which is reflected in the investment in Henry Muck’s green-energy venture. This is evident in the new art gracing our meeting rooms and a conspicuously placed HR packet about diversity, equity, and inclusion in the break room. The mundane aspects of office life have been painstakingly replicated. A memo in the kitchen requests that whoever is swiping sandwiches from the fridge please remember we’re mature adults, not children.
Each desk in the room is equipped with a Bloomberg terminal, the multiscreen powerhouses favored by financial professionals. According to Crowther, all these terminals are operational, installed under the guidance of the company itself, and Pierpoint’s stock ticker works flawlessly. A simple flip of a switch provides you with up-to-the-minute financial data, right here in Cardiff. The desks also hold prop items tailored to the characters – for example, one of this season’s new hires, known as Sweet Pea, carries a jade roller and a tripod for her phone, typical accessories for a Gen-Z influencer. It’s fascinating how the fictional world and the real actions of the actors can overlap. The show, Industry, has used the same group of local background actors throughout its seasons, each with their designated desk. They come to work and spend a day filming as if they were at an ordinary office job. Some have even formed romantic relationships.
The authenticity that underpins “Industry,” a series known for its substantial improvisation, is rooted in the financial background of its creators, Down and Kay. They first crossed paths at Oxford University, where they were assigned to the same college. Both being high-achieving offspring of immigrant parents, Down’s mother being Ghanaian and Kay’s Polish, they collaborated on the school newspaper covering films. With no predefined plan, as their university days drew to a close, they found themselves inadvertently working in finance due to circumstances rather than choice. As Down puts it, “I had no intention of working in banking and a very casual interest in filmmaking and writing. But when we got to the end, everybody was getting jobs in banks, so I thought, I’d better get one.“
For one summer and an internship at a large American private wealth management firm, followed by about a year at a European firm, Down worked. Later, his passion for filmmaking led him to take a job as an assistant to a talent agent while also writing short scripts. Following Kay’s layoff from Morgan Stanley, they both decided to try their hand at writing together. At the same time, Tranter was contemplating a concept about finance herself. In 2015, she established Bad Wolf Productions, named after Doctor Who, where she played a significant role in its revival during her tenure as an executive at the BBC.
Tranter and her team began gathering testimonies from finance professionals, aiming to unravel an engaging story about young graduates in the workplace without it becoming a sensationalized, glamorized Wall Street-esque portrayal of greed. As she contemplated who could write this series, serendipitously, they came across Down and Kay. These individuals had met with Tranter’s associate Ryan Rasmussen for a different pitch at Bad Wolf, one that was not set in the traditional financial district. What attracted Tranter to them was their candid discussions about their experiences rather than any specific work they had produced. “To be frank,” she says, “it was their conversation that convinced me they were capable of this. At the very least, I knew we’d get something genuine. At best, I found their conversations compelling. I didn’t expect them to develop as quickly and extensively as they did.”
Suitingly for a series centered around finance, Industry found its way onto television mainly due to careful budget planning. As Tranter worked on the concept, he managed to pique Casey Bloys’ interest, who was appointed as HBO’s programming head in 2016 and was keen on finding an affordable yet engaging show. Despite the characters in Industry earning substantial income, filming their lives wouldn’t require a hefty budget: Tranter could cast relatively unknown actors for lead roles, recruit fresh writing talent, and shoot most scenes within office sets. (Tranter boasts that the budget remains modest, even in the ostensibly luxurious third season; they managed to save money to arrange the trip to Longleat.) In 2019, HBO disclosed plans for a pilot focusing on young finance professionals, to be directed by Lena Dunham. Tranter diplomatically clarifies that Dunham’s role was limited, as she was fulfilling a contractual obligation with the network to direct and played a part in the casting process, assisting in selecting the young actors who could carry the series.
Over a span of several years in their development process for the TV show “Industry”, Down and Kay honed in on the key aspects that would ultimately captivate audiences. The question posed by Tranter – what drives someone so intensely to succeed they’d immerse themselves in capitalism? – began to reveal a thought-provoking answer. Beneath the interpersonal chaos of Pierpoint, there was an unsettling undercurrent of power. You can feel it pulsating through the financial transactions and also in the struggle for influence among the trainees. The fact that their work is toxic, with many colleagues being let go before the end of their first year, only makes it more rewarding to be the ones who make it. When they initially wrote the pilot script, Down and Kay were quite angry at the banking sector. An executive from HBO inquired about what motivated them to take on the job in the first place. “There’s an electric buzz to it,” Down recognized. “We aim to pass that feeling on to the viewer,” Kay added.
Rishi Ramdani, a popular character in the Industry series portrayed by Sagar Radia, is known for being Pierpoint & Co.’s most talkative and humorous employee. His conversations, filled with inside jokes and occasionally off-color humor, are often added during post-production. Many fans admire his lines even when they’re not on-screen, which sometimes leaves Radia wondering if he should be flattered or offended by the compliment.
As a movie enthusiast, I’m thrilled to share that Rishi is not only lending his voice but also gracing our screens in the latest season of Industry. His character even gets a solo episode that echoes the intensity of Uncut Gems. Rishi plays an extremely specific type of character, one who you’d recognize as “that guy” from any office environment. This is what makes Industry stand out. Even if you’re not familiar with the intricacies of this world, the show moves at a breakneck pace, making you feel like you’re in the know and confidently continuing its narrative.
In a playful manner, Down and Key often criticize their own work yet recognize its impactful, captivating allure, heightened by Nathan Micay’s electronic soundtrack. “Feel free to interpret the show as you wish,” Down jokes. “Perhaps some viewers prefer a complex corporate narrative. If you’re into sex, drugs, and excitement, there’s plenty of that too. And let’s not forget the great music.” “The dialogue might not be your main focus,” Kay chimes in, “I suspect about 10% of our audience pays attention to it.”
As a devoted movie enthusiast, I can’t help but feel the anticipation swelling for the next season. According to the creators, it seems the structure will be even more refined yet maintain its intriguing neatness, following the footsteps of their initial hit series, ‘Industry’. The second season delved into Harper’s traumatic past, with a poignant episode where she confronted her addict brother in Berlin. As Down puts it, “It felt like we were crafting a drama for HBO; it was intense.”
After viewing it, the achievement of that hybrid is undeniably evident. The series primarily revolves around a significant event, the Initial Public Offering (IPO) of Harington’s character’s energy startup, which clarifies the business aspects and potential repercussions since real people will be affected during an energy crisis. However, the show doesn’t shy away from the extravagant. Characters like Eric get consumed by excessive indulgence in sex and drugs. Another notable fan of the series, comedian Joel Kim Booster, even makes a bold appearance in a nude sauna scene. The creators filmed Yasmin’s father’s scandal backstory on an actual yacht in Mallorca, which they initially pitched to HBO as “coke and boats.”
Could it be that the positive trends in the market are pushing Industry towards becoming a blockbuster success? While it’s certainly possible that a skilled analyst might say otherwise, the series does have an established audience and HBO seems to have made a wise investment given its relatively low cost. The cast members have even attracted interest from financial professionals who find their lives outside Wall Street to be as distant as the Marquess of Bath’s life is from the show’s setting, according to location manager Jason Keatley. Yet, there are fans of the series who come from all walks of life, some of whom are drawn to the show’s most iconic item: the PIERPOINT & CO. deep-purple sweatshirt. If Industry‘s third season were to achieve true blockbuster status, it would be an achievement despite its unique and mature themes that stand in contrast to the types of TV shows popular today. The series is not based on any existing intellectual property, lacks big-name stars, and presents adult content both in terms of plot and format.
The series ‘Industry’ bears a striking resemblance to the intricate 19th-century serialized novels from London, much like Anthony Trollope’s works, which also featured scheming bankers and fraudsters. The characters in this show, however, have access to substances like ketamine. As writers, Kay and Down often find themselves in the realm of period dramas, appreciating the classic British literature. This might explain their involvement with the series. The U.K. often discusses the concept of social mobility and the diminishing class divide, but Kay and Down believe these divisions are more deeply ingrained than ever.
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2024-08-12 00:55