Industry: Season 3 Episode 4 – Review & Recap

Spoiler Alert: This summary and review contains spoilers.

Additionally, some images and text may include affiliate links, meaning we may earn a commission or receive products if you make a purchase.

The Gist

The TLDR Recap/ Review

1. It’s an entirely Rishi-focused episode that addresses his work, personal life, and how deeply in debt he is.
2. Work-wise, he is in such a hole due to his position that he is now digging Anraj into a hole. How big? Rishi is at 625 million quid, with Anraj covering almost half of that.
3. On top of that issue, Venetia and others come after Rishi’s flowery language, and with how deep in risk Rishi is, Eric damn near throws him to the wolves, but luckily, the markets show favor to Rishi.
4. As for his debt? While work recovers, his personal debt of 200,000+ is leading to what looks like a loan shark ready to mess his life up, and because Rishi is so addicted to gambling, even when he has the chance to dig himself out, he doubles down.
5. This leaves his personal life: He moved out to the countryside to have this ideal life, a façade. He is having an affair with Sweetpea, and his wife is having an affair with her childhood friend named Nicholas, maybe among others, but an agreement to potentially reset ends the episode.
6. I don’t think I’ve ever watched something that got my heart rate up like this that wasn’t a horror/thriller or an action movie.
7. To be honest, for most of the existence of “Industry,” I didn’t take much note of Rishi. He had a filthy mouth, had aspirations that made it seem like he was an outsider as a kid, but no attention was notably paid to him.
8. But, with this episode, I’m starting to understand why people so badly want shows to get time to find their audience. It’s sad that many shows need multiple seasons to do so, but thankfully, “Industry” was good long before this episode and likely will continue to be so.

Storyline Recap

Suspension Of Reality In The Countryside – Rishi, Diana, Nicholas

Rishi has always wanted a certain lifestyle. More than anyone else, it could be submitted that Rishi wanted a certain aesthetic from his look down to who he married, and it seems that after 15 years at Pierpoint, he has it all.

At least, it appeared that way. He hates the community he is in; Nicholas, his wife’s childhood best friend, might be having sex with her again, and everything about the countryside seems to be trash.

The Downward Spiral – Rishi, Anraj, Sweetpea, Nicholas, Eric, Vinay

But, don’t see Rishi as a victim of trying to live up to the dream of what it means to be successful. He enjoys everything but his home life. He is doing blow while watching Sweetpea be a cam girl, and holding his kid almost simultaneously. Also, he has had sex with Sweetpea before, potentially for money, maybe for something else altogether – hard to say.

However, while he is living on a bit of a high in some ways, his numbers from his bank account to risk limit aren’t where they should be. He is in debt to Vinay by over 200,000, and Rish took advantage of the Lumi IPO to get himself into a 600 million quid in debt, which Anraj had to take on, partly against his will.

Add into the mix there being a subreddit about things overhead at PierPoint to which HR has pinpointed some of the things said likely from Rishi’s mouth, and things aren’t good. I mean, throw in Eric, who is getting calls from the Risk department about the debt limit and HR, and it is starting to seem Rishi, rather than Kenny, should have been the one who was cut.

I Can Go Lower – Rishi

But, despite how bad things get, Rishi has no issue going lower! He has scammed many on the floor to buoy his gambling habits, and just as he wins a good amount of money, at least enough to get Vinay off his back, he blows it. He also gets frisky with some girl in a club and gets beaten within an inch of his life as a consequence.

The Luckiest Boy In The World – Rishi, Eric, Anraj, Venetia, Diana, Nicholas

Yet, despite the push this is all karma collecting over the Boxing Day holiday, Rishi bounces back. The government moves in a way that makes it so Rishi and Anraj’s debt ends up not only erased, but they make a profit. On top of that, Venetia reveals herself as the one who snitched on Rishi to HR, and with her learning, nothing happens as long as the money gets made, she quits.

Then, back at home, while Rishi and Diana’s marriage is fractured and dysfunctional, after hashing it out a bit, with Diana confessing to her infidelity and Rishi revealing his gambling debt, it seems they are in a better place. This leads Rishi to feel boosted enough to stand up to the community, take his dog back from Nicholas, and, with Diana’s support, pretty much double down on some of his worst traits.

Collected Quote(s)

• […] money heals antipathy as fast as it creates it. — Rishi
• It’s much easier to raise strong boys than fix broken men. — Diana

New Characters

Check Out The Character Guide For More Information.

Al Roberts As Nicholas

Nicholas has known Diana since they were 4. He comes from money, but he has been forced to sell some of his land due to not having a lot of liquidity at the moment. But, he’ll always be Diana’s first.

Asim Chaudhry As Vinay

Vinay isn’t a loan shark but is someone who does provide loans and, as Rishi almost found out, will have you embarrassed at best or violently dealt with at worst if you don’t have his money.

• The actor is also known for their role in “Black Mirror: Bandersnatch.”

Review

Highlights

Giving Sagar Radia’s Character A Episode-Long Spotlight

For most of Rishi’s screentime, the only thing you ever had a reason to expect was some wild combination of words that sounded like a Nigerian curse. That pretty much defined his character, even with there being moments of meeting his wife, knowing he wasn’t against partying and the rare moment he wasn’t trying to compete with Eric for the most insecure man at PierPoint.

Yet, in this episode, we got to dig deeper without him necessarily being humanized. Rishi begins and ends the episode as a bastard, but he is pushed further to be a lovable bastard as you watch the debauchery, the mistakes, the madness, and him somehow coming up on top despite it all. I mean, most characters on “Industry” behave badly, like our ultimate favorite Harper, but Radia really proved that as much as Harper is a hook for the show, potentially, any character with enough time and focused writing could easily become your favorite.

The Pursuit Of What It Means To Be A Man

Eric and Rishi are men of a certain age, and from the question of whether they are still good at sex, are they respected in the office, especially by other men, and how they define manhood, you get an interesting take on the forever project of defining masculinity. On top of that, you get how fragile it is as well.

I’d even say, it isn’t just fragile for them but also Robert and Anraj, who find themselves pushed to speak out against a notable figure at their job and even admit, in Anraj’s case, how vulnerable they feel. It’s all a bit wild since you can see it is a running theme of the season, maybe the show, yet it’s not as in your face as it could be. Not to imply it is subtle either, but the push of how the old definition of what a man is conflicts with what is needed in modern times doesn’t feel like it is pandering or trying to shame anyone. It simply wants to use men like Eric and Rishi as examples and push you to make your own thoughts and decisions.

General Information

Additional Information

1. Previous Episode: Season 3/ Episode 3
2. Series Page

Episode Title

White Mischief

Release Date

September 1, 2024

Network

Max

How To Watch

Director(s)

Zoe Wittock

Writer(s)

Mickey Down, Konrad Kay

TV Shows We’re Covering This Season

Images used for editorial and commentary purposes. All rights remain with their respective copyright holders.