Review: Industry, “Smoke and Mirrors” | Season 3, Episode 2
"Lipstick cherry all over the lens as she's falling"
Value is in the eye of the beholder. What one thing means to you may have an entirely different concept to me and vice versa. That’s especially true for, let’s say, a stock—an inherently fugazi concept that’s never landed and has no place on the element chart. And yet, it means something to someone somewhere—and can define the future accordingly.
Lumi's value, real or not, is a make-or-break situation for Sir Henry Muck and the 642 people who work for him. Taking place over the course of what’s got to be one of the longest days in Pierpoint’s history, “Smoke and Mirrors” plays like the second half of a two-part episode. That’s slightly by design, as co-writers Mickey Down and Konrad Kay told the Throwing Fits podcast that they wrote these first two installments together when they pitched HBO on the third season. Well, that and an email that read “Coke and Boats.” Last week’s premiere was all about our characters grappling with their identity, whereas “Smoke and Mirrors” leverages Lumi’s IPO as a way for authority figures or those in power to gauge the value of each of Industry’s main characters. The episode serves as a mirror for Yas, Harper, and Rob to determine their respective place moving forward by deciding how they’ll shape and own their perceived value.
For Yasmin, there’s a newfound understanding of what it takes to succeed on this desk—and, critically—what it takes to garner Eric’s attention and affection. After spending years floating around Pierpoint, the Lumi IPO is Yasmin’s first real moment of chaos on the floor, with spooked buyers like Anna or power brokers like Otto Mostyn calling in. These two calls are pointed inquiries about Lumi’s value, sure, but they double as mini-tests for Yasmin’s value. Mostyn’s too big a shark for most players, let alone an inexperienced player like Yas. Anna, however, is someone Yasmin should be able to placate and quickly asserts her power. The subtle look of approval from Eric is all she needs to realize that the action is the juice.
