To Reinvent a Show: The Evolution of HBO’s Industry

I have always considered myself a“TV Person.” While almost all of my friends call themselves loyal cinephiles, unwavering in their preference for movies, I have always preferred the storytelling potential of television; watching a season of TV across a number of days or weeks fosters a deep, sustained connection with its story and characters that is harder to find in movies. Television flourishes, then, by allowing a story to evolve over time, using its longevity to reinvent itself and reach greater heights. There is such satisfaction in watching a show you love turn into something truly incredible and novel–a feeling which I have found over and over again while watching HBO’s 2020 drama Industry.

Over the course of the past six years, Industry has evolved from a raunchy, scathing critique of modern capitalism to an unrelenting, heart-pounding thriller–one which I believe to be the most electric

show on TV right now. Despite this transformative leap in quality, however, the most impressive part of Industry’s evolution is its ability to constantly reinvent itself whilst still maintaining its heart, a feat becoming more rare each year the streaming era marches on.

Industry’s first season is, admittedly, nothing too special. Granted, the eight-episode run has standout moments, like the agonizingly-stressful hole Harper digs herself into in “Sesh” (S1E4) or the disastrous and debaucherous Christmas party the company hosts in “Nutcracker” (S1E6). Its pilot is compelling, with a first-episode twist that certainly serves to hook undecided viewers. Nevertheless, I still found myself struggling to feel a connection to Harper’s victory at the episode’s conclusion. Other captivating moments hooked me in the episodes to follow, but that kinetic energy wore off by the middle of the season, losing the high tension singular and special to the show.

It wasn’t until “Kitchen Season” (S2E5) that I truly understood how special the show could become. Serving as a devastating look at the family lives of main characters Harper, Yasmin, and Robert, the show’s second Christmas episode slowed the season down to analyze its protagonists inner demons rather than the outward evils of Pierpoint’s work environment. The show’s annual Christmas episodes are some of its greatest due to their ability to contrast characters’ harrowing personal lives with the merry backdrop of Christmastime. Making these episodes a seasonal hallmark represented a growth in the show’s identity, which

finally began to set it apart from its oft-compared-to contemporaries.

The first episode of Industry’s third season, “Il Mattino Ha L’oro in Boca,” took things a step further. The season

began with a shift in perspective: the story went from focusing on Harper to her sworn-frenemy Yasmin, complimenting the show’s heavy tonal shift. While it remained just as fun and raunchy as its preceding seasons, a shocking mid-episode twist completely launched the series into a Safdie-esque, unrelenting

nightmare–one that I was unable to look away from despite the pit it left in my stomach. The final fifteen minutes of the season’s pilot descended so quickly into madness that I began to feel the stress of working at Pierpoint despite only being a spectator. Throughout the rest of the season, episodes became so fast-paced that I had just as little time to process the highs and lows of finance as the characters–the show had returned to the chaotic energy it so desperately needed. Each installation drew me further into the madness of Industry, with each stress-inducing gambling montage and Lynchian-nightmare ayahuasca trip only further propelling me down its roller coaster pacing. The show’s recent fourth season continues this trend, providing viewers with a story of corporate espionage in the wake of the show’s post-Pierpoint era.

Industry further pushes the boundaries in this newest season through its shifting cast of characters. Besides Harper and Yasmin, no season has ever had the same ensemble–a decision that, while often staggering other shows’ development, has worked wonders for a series focused on the ever-changing world of finance. When the show suffered its first major loss was in David Jonsson’s Gus Sackey, Kit Harrington’s Henry Muck instantly filled this gap, playing a captivating ultra-rich tech mogul whose presence immediately became a hallmark of the show. Season Four has introduced the most new additions yet, replacing the kind-hearted Robert Spearing with the show’s first true villain–Whitney Halberstram–and adding heavy-hitting names like Kiernan Shipka and Charlie Heaton. Additionally, previous side characters, such as Sweetpea, began to take the reins, becoming a valuable asset to Harper’s team. These new additions succeed because they are treated with the same care as others, often receiving focused character studies in individual episodes. Their enhanced presences also cause major shifts in the existing characters’ relationships and levels of power. With the additions of Sweetpea and Kwabena, Harper is no longer just a subordinate, but has to become

a leader herself. The introduction of Whitney, a character who shows both heart and heartlessness to Henry, causes Harrington’s character to reach greater depths, exploring both his repressed sexuality and fear of rejection.

Industry’s careful treatment of its characters is best understood when compared to another show with an

ever-changing cast: Yellowjackets. While Yellowjackets haphazardly kills off its main adult cast for shock value

and unceremoniously introduces new characters between seasons, Industry treats its characters (and actors) with more respect. Its newest season sees the exits of two main characters, Ken Leung’s Eric Tao and Sagar Radia’s Rishi Ramdani–both important players since the show’s beginning. These departures are treated with reverence and care for both the characters’ stories and the actors who portray them. Eric and Rishi each feature in “swan-song” episodes, allowing their actors one final tour-de-force performance as they say goodbye to their characters. In fact, to respect the departure of Eric Tao, his final episode’s credits sequence is the show’s first departure from simply white text over a black screen, instead showcasing a content Eric walking off into the sunset—both his character’s goodbye to the world of finance and his actor’s final goodbye to a show he’s helped define. Additionally, despite a sudden mid-season departure, the immature and impulsive character Rishi’s final episode ends with a devastating final attempt to escape, backed fittingly to “Forever Young” by Alphaville. As Rishi finally accepts that he can no longer run from facing his life, Radia too accepts his role’s end, closing out a character arc beginning in his solo episode “White Mischief.” Even as its characters meet shocking fates, Industry stands out when compared to its contemporaries by showing a deep care for both its characters and actors, allowing its cast members endings that fulfill their own character arcs rather than the stories of others.

Another way Industry has kept itself afloat in our ever-changing sociopolitical landscape is through its ability to change focus, adapting plots to mirror real-life while still providing satisfying character arcs. Following the COVID-19 pandemic, rather than continuing the story as if nothing happened, Industry opted to account for the real-world time jump, showcasing its characters in the fallout of the pandemic. This is seen most prominently in the character of Jesse Bloom, an eccentric financier whom Harper strikes a friendship with, whose catapulting into success resulted from predicting the pandemic’s financial implications. In later seasons, Henry Muck stood in for an Elon Musk-type, portraying a similarly carefree, childlike CEO who faces minimal repercussions for his actions. Most recently, season four’s Whitney Halberstram calls back to the recent advances in the criminal activity of Jeffrey Epstein and his associates, showcasing the moral and sexual

corruption of finance’s heaviest hitters.

HBO’s Industry has experienced a meteoric rise in critical acclaim and mass popularity–a trend reflecting the show’s evolution from small-scale drama to corporate epic. When compared to other shows, Industry’s progression is a lesson in how to elevate a story, continuing to surprise viewers while still maintaining the integrity of its mission and character arcs. In the streaming era, where shows change to appease an algorithm and avoid cancellation, Industry is one of few shows still unwavering in its vision– entertaining while staying loyal to the characters that fans have come to know and love.

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Maxine Messina is a freshman in the College of Arts and Sciences, planning on studying psychology and music. She’s a man and she’s relentless.