Industry season 3 episode 3 recap: Pierpoint heads to Switzerland in "It"

Henry Muck's green energy company Lumi has gone public on Industry season 3, for better or for worse. Taking place in the fallout of last week's episode, season 3 episode 3, "It," follows the central characters as they head out to a climate conference in Switzerland. All eyes are on Pierpoint and Lumi as suspicions swirl. Even employees at Pierpoint question if taking Lumi public was a mistake and whether or not they overvalued the company.

WARNING: Major spoilers for Industry season 3 episode 3 are below.

Over at FutureDawn, Harper is still Anna's assistant but she's playing the field. Petra weighs her options, feeling stuck working for Anna and the contact she's under. She asks Harper if she would come with her if she leaves FutureDawn, wanting her to help strategize how to self-fund. She invites Harper to come to the climate conference so they can try and sell potential investors on their idea. Things are moving fast for Harper, just as she likes it.

A very important conference in Switzerland

Meanwhile, Eric is invited to go to the conference and speak on a panel, where he's meant to talk about the relationship between Pierpoint and Lumi. For both parties, it's best if people believe their partnership has been successful. During a night out, Robert and Yasmin reveal they're going on the trip as well. Harper tells them she's not going to see her boyfriend again, while Robert makes a quick mention of Gus working in Palo Alto. Actor David Jonsson left the show, so I'm glad they're at least mentioning this character briefly.

Yasmin's lawyer Denise calls her that night and says her dad's boat has been spotted back in the UK. Denise is spending more time with Eric, proving their encounter in the season 3 premiere wasn't just a one-night stand. But the two argue and break things off.

Eric, Yasmin, and Robert board a private jet to head out to Switzerland, and Yasmin questions why she and Robert are there. Henry arrives and awkwardly kicks the Pierpoint team out to the back of the plane to make room for his friends, though he asks Yasmin to stay up front with him. When they get to their hotel, Eric and Robert are disappointed to learn they have to share a room after some booking mixup, while Petra and Harper also arrive and check out their room. As more guests show up and begin mingling, Anna confronts Eric and asks him why Lumi's stock is down.

Robert does some networking of his own and introduces himself to a Pierpoint analyst named Frank in the hotel sauna. Robert is worried that Frank is going to publish a recommendation to sell Lumi stock during the panel tomorrow, though Frank doesn't seem easily swayed without something in return. The scene cuts before we see if Robert is willing to reciprocate. Later that night while sharing a bed, Eric asks Robert what's going on with his relationship with Yasmin, to which Robert says they're just flatmates.

Harper makes connections

Harper shows up at the hotel gathering and has Yasmin introduce her to Otto Mostyn. Their conversation as a group seems to be going well until Henry's friend comes over and asks Yasmin if her dad is really missing or if she killed him. Henry yells at him and chases after Yasmin to see if she's okay. The line between professional and personal is getting thinner by the minute between these two, and they both know it, though Yasmin seems to want to deny it.

Early the next morning, Petra and Harper have meetings with potential investors but they don't go well. People are uninterested which discourages Petra, who worries about the fact that she doesn't have her physical track. She mulls over just going back to London. Harper doesn't like that idea, and unsurprisingly, takes matters into her own hands. Yasmin tells Harper that someone at the Pierpoint office will have Petra's track and she'll make it happen. She tells her she wants commission for the job, and Harper agrees, saying she always wanted Yasmin to work for her.

Lumi isn't looking good

The Lumi panel kicks off with Eric, Henry, and Anna on stage. They do a pretty good job keeping up appearances, that is until news comes out that a recommended hold on Lumi has been published. This is a recommendation for investors to hold onto the stock instead of selling or buying, which isn't the worst thing but doesn't look good for Lumi. Ideally, they want people to keep buying, and this puts up a major red flag that something might be wrong with the company. During the Q&A portion, Harper says she's there starting a new fund with Petra and calls Lumi and Pierpoint out on the hold.

After the panel, a man who was sitting in the audience approaches Harper and wants to learn more about her and Petra's fund. Back at their hotel room, Petra yells at Harper and says she's going back to London, furious that she would act so impulsively and expose them like that. But her tune changes when Otto shows up at their room with the man who approached Harper, asking about their fund. Petra is pleasantly surprised to hear that Harper got her track, which helps them secure an investment from Otto. Side note: Jesse Bloom is mentioned two times in this episode, though the specifics of what happened to him are unclear.

Yasmin and Henry bond

Yasmin finds Henry in the hotel pool alone and she apologizes to him for how badly the panel ended up going. He tells her that Lumi is down another 20%, to which she asks why he even cares when he could make millions selling out. But Henry doesn't seem to care about any of that, and he asks her to ignore what the media portrays him as just like he does for her. He then opens up about his dad dying by suicide and admits to having suicidal thoughts before. The only way he can get through the bad thoughts is by building something of his own, which is Lumi. He admits it was selfish of him to arrange for Yasmin to come, but he was hoping they would get a few minutes alone. With a kiss on her cheek, he leaves. In the bathroom alone, Henry makes a phone call and says he wants to sell his Lumi stock.

During another networking party, one of Henry's friends approaches Eric and introduces herself as Susie, to which he introduces himself as Robert Spearing. Robert sees Frank and tells him he owes him a drink. The next morning, Eric is woken up by Yasmin knocking on his door saying she's set up a meeting with a new fund. Susie is in bed beside him, and when she gets up to get dressed, we learn that she's a sex worker and Eric owes her $20,000. He sneaks out of the room and tells her he'll be right back, which, understandably, angers her. She's not far behind him and yells at him in front of people, calling him Robert Spearing.

Petra and Harper are winning

Eric's next big surprise is who his meeting is with: Petra and Harper. Petra tells him that they want Pierpoint to be their broker, and Eric is shocked to hear that Otto Mostyn has invested. Anna later sees Petra and Harper in the lobby and flips them off, while Petra and Harper realize they need to come up with a name for their fund.

On the plane ride back, Robert and Eric are alarmed when Henry closes his cabin door and they get a glimpse through the crack of him and Yasmin hooking up. Yeah, that line between personal and professional is definitely no longer there, but will Henry even still matter to Pierpoint soon? We'll find out when Industry season 3 continues next week.

Continue reading our episodic recaps of Industry season 3 right here at Show Snob. New episodes are released every Sunday night on HBO and Max.