From the opening moments of Industry season 4, episode 4, we can tell all hell is about to break loose: the editing and camera work are frantic, the score builds up an anxious momentum, and Jim Dyker finds himself caught in a web of paranoia. Suddenly, his boss calls him with unexpected good news: he's sending Jim to Accra to work on a follow-up story on Tender, but he also reinforces the need to steer clear of any short sellers.
The cold opening paves the way for an anxiety-inducing Industry episode that sets all storylines on a dark collision course.
A big storm coming
At SternTao's HQ, Harper and Eric face their first crisis as Jim calls them to terminate their unprofessional relationship. Knowing that Jim's follow-up article on Tender needs to be published as soon as possible to substantiate SternTao's short, Harper goes ballistic on him. She directs her frustration to Eric, who warns her about the legal consequences of feeding their Tender intel to the wrong person.
Meanwhile, Tender is preparing to launch their new banking app, sponsored by none other than Pierpoint, that is, Al-Mi'raj-Pierpoint. Henry, haunted by war flashbacks of his Lumen fiasco, isn't too happy about Pierpoint's involvement. Yasmin arranges for him to present the Tender app at an upcoming tech conference, while Whitney fills her in about Harper's ties with Jim Dycker and his investigation. Yas, in turn, tells Whitney about Hayley's one-night stand with Jim, despite having promised to keep a secret.
In addition to moonlighting as Harper's private investigator, Rishi is also selling drugs and shooting amateur porn videos in his car. He's interrupted by a call from his mother-in-law, who arranges a meeting between Rishi and his son in exchange for his permission to change the boy's surname and take him abroad. The boy doesn't even know who Rishi is, and he probably never will. Aware that he doesn't really have a choice, Rishi agrees to the terms.
Crisis averted, for now
The best thing about Industry season 4, episode 4 is how every character is assigned a distinct role, however small, that contributes to the big picture in the end. Sweetpea contacts Jonah, Tender's former CEO, and the two talk while a drunken Jonah enjoys a lap dance. He sends her internal Tender emails that lead SternTao to one Tony Day, Tender's suspicious Africa CFO.
Whitney suspiciously flies to Accra, while Yasmin enlists Norton to frame Jim and SternTao as conspirators in his paper. Later, when Hayley admits having doubts about the ethical implications of the threesome in Austria, Yas gaslights her: "Maybe you're sublimating experiences," referring to her foggy night with Jim, "making a good thing bad."
Henry keeps whining about Pierpoint's finger in the Tender app launch, but Whitney calms him down by making him feel as if Henry is the one in control. It's hard to miss the weird sexual tension that goes on between them before they are interrupted by Yas -- or is it just Industry's writers messing with the viewers?
Henry's speech starts awfully embarrassing but is saved by a sudden outburst of sincerity, something that, unbeknownst to him, Tender utterly lacks. Henry and Whitney welcome the press and are surprised by Dycker, who inquires about Tender's processing facilities in Sunderland. Whitney talks himself out of it, but Yas and Henry immediately sense that something is off.
Industry's Jim and Rishi reach rock bottom together
Yasmin is promoted to Head of Communications at Tender and assigns Hayley a role under her command. When Yas gives her the news in the elevator, Hayley outfreaks her with a good dose of dirty talk and a "Thank you, mommy" that is both sexy and unbelievably awkward.
Meanwhile, Jim is celebrating with co-workers when he's called into his editor's office, where he learns that he and SternTao are being labeled as "corrupt money-grabbing enemies of British innovation" in Norton's newspaper. To make things worse, Hayley filed a sexual assault complaint, leaving Jim's editor with no choice but to fire him.
We then get the darkest 12 minutes in all of Industry's four seasons as Rishi and Jim's nocturnal odysseys converge at a gay bar, where they spiral into a cocaine-fueled binge and bond over their misgivings. As we learned in the episode's opening scene, Jim is also an equally unfit father (the result of a one-night stand) and has his own problems with substance abuse.
Followed by a random guy they met at the bar, they head to Rishi's apartment, where they continue to numb their sorrow with one line of cocaine after another. They vent their rage on a world that has thrown them to the wolves and indulge in an incel-coded rant about consent, suicide, and capitalism’s weaponized self-critique. All the while, the bloke from the bar blasts touchy ballads at deafening volume.
Suddenly haunted by the memory of his murdered wife, Rishi goes to the bathroom and retrieves a hidden stash of cocaine. When he returns to the living room, the other guy has left to buy more beers and Jim has overdosed. The police bang on the door to see about a noise complaint, and instead of cooperating, a desperate Rishi jumps off the balcony and breaks both his ankles before being arrested.
Industry season 4 episode 4 review
If Industry season 3, episode 4, "White Mischief," was the show's take on Uncut Gems, this week's episode feels like a direct nod to Bojack Horseman's "The View from Halfway Down." Although both Industry episodes are centered around Rishi, "1000 Yoots, 1 Marilyn" manages to bounce between other storylines with precision, saving the bleak culmination of Rishi's arc (as well as Jim's) for the grand finale.
The last 12 minutes of this episode will be widely discussed for fans long after the season ends, but there's a lot to enjoy in the entirety of "1000 Yoots, 1 Marilyn." From Yasmin pulling the strings backstage to Hayley showing her claws to SternTao digging deeper and deeper into Tender's rabbit hole, Industry season 4, episode 4 succeeds in isolated moments while scoring strong plot progression points.
Still, all paths lead to the feverish despair that permeates the episode's final minutes, which abruptly seal the fate of two key characters. Jim Dycker is seemingly dead, closing the door on Charlie Heaton's game-changing guest appearance. His death will either serve as SternTao's way out of the conspiracy Norton's paper pinned on them or drag them even deeper into the scandal. Counting on Harper's wit, the first choice feels like the safer bet.
As for Rishi, Sagar Radia thanked Industry and HBO on his Instagram stories for "a gift of a role." The post heavily suggests that this may be the last we see of Rishi. Whether in a desperate bid to escape the police or end his own misery, Rishi jumps off the balcony and lands on his feet, violently tearing his ankles apart. In a last flicker of hope, he tries to crawl away, but the police immediately arrest him.
Rishi's tragic fate in Industry closely mirrors Netflix's Bojack Horseman's: both were held accountable for the death of a loved one, lost everything, relapsed, flirted with death, and were ultimately dragged back into reality to face the real consequences of their actions behind bars. Call it justice, call it redemption, call it karma, the outcome seems as cruel as it seems fitting.
Industry's decision to push Rishi further into the abyss may register as gratuitous cruelty, but it is actually a pointed reminder that acknowledging wrongdoings may restore a lost sense of morality, but doesn't erase the damage done to others. It's not like all these problems simply fell on Rishi's lap: he chased them insistently, and even when forced to change his lifestyle, his egoistic worldviews remained intact. It's a harsh ending to a harsh person — though an ultimately great character. In a weird, almost sadistic way, Rishi will be missed.
Industry season 4 airs on Sundays on HBO Max.