The Prestige TV Podcast
‘Industry’ Season 4, Episode 3: Watching the Sausage Get Made
Hosts: Joanna Robinson, Rob Mahoney
Date: January 27, 2026
Overview
Joanna Robinson and Rob Mahoney break down the third episode of Industry Season 4, “Habsilikkayten” (“possessions closest to your soul”), examining its intertwining themes of power, legacy, identity, and the ever-shifting moral compromises of late capitalism and elite privilege. Rich in cultural allusions, finance and political intrigue, and sharp character analysis, this episode of The Prestige TV Podcast navigates everything from Nazi-adjacent banking scandals to shameless sausage symbolism, deft journalism, and the personal demons that drive the show’s antiheroes.
Key Discussion Points and Insights
1. Episode Title & Thematic Thread: “Habsilikkayten”
- Definition & Symbolism: Refers to “possessions closest to your soul.” Both hosts unpack how the idea of possessions manifests literally (art, sausages, money) and figuratively (power, control, legacy) for every central character, particularly in the context of capitalist aspiration and insecurity.
- Quote (Joanna, 02:03): “It is important we’re talking about possessions in a show that is, of course, so fixated on money and capitalism… it’s never human connection. It’s always things and security and legacy, as Jody would like to say.”
2. Listener Mailbag & Easter Eggs (03:39-09:30)
- Closed Captioning & Foley Work: Praise for inventive “fluid, squelching” captions and sound design during a sex scene.
- Quote (Rob, 04:10): “Whatever Foley artist came up with that exact squelching sound... real sludge in the sewer kind of sound.”
- Sausage Symbolism: Piled sausages serve as a new status marker for the rich in the show—a recurring motif for excess.
- Mad Men, Sopranos, & Cultural References: Listeners highlight echoes of The Sopranos and British expressions (“Lord and Lady Muck”) underlying class commentary. Notably, multiple Mad Men needle drops are discussed.
- Meta Moments: Celebrity listener emails, including a possibly real note from co-creator Mickey Down defending Meet Joe Black.
3. Power, Media, & British Politics (09:54–13:21)
- The Jenny Bevin Power Move: Discussion of whether Party official Jenny Bevin intentionally placed an article to boost her standing, reflecting how women are forced to navigate media and political games differently.
- Media Manipulation & Soft Power: Connections are drawn between tabloid placement and maintaining/increasing influence, furthering the show’s theme of transactional relationships.
4. Yaz: Girlboss or Lady Macbeth? (13:22–24:44)
- Manipulation & Survival Instincts: Yaz’s past (manipulative father, multiple nannies) informs her uncanny ability to work people—including Henry and Haley—for practical, self-interested ends.
- Quote (Rob, 14:00): “This whole episode is a showcase of the ways in which Yaz is a player in this space and has been for a long time... her capacity is whatever the fuck she wants it to be.”
- Succession & Ghislaine Maxwell Parallels: The hosts talk about power imbalances, Yaz’s sexual manipulation echoing infamous assisted abuse/redirection narratives (Ghislaine Maxwell, Lady Macbeth).
- American Psycho Allusions: Her role and aesthetic invoke dark memes of white privilege, power, and transactional sex.
- Ghost Dads & Daddy Issues: The episode is thick with psychological projections—Henry’s dead father and actual ghosts loom large.
5. Fascism, Class, and White Privilege (24:45–32:36)
- Yaz’s Heritage & the Lure of Power: Her comfort around Nazis (Austrian banking partners) is dissected through the historical lens of the Mitford sisters—fallen British gentry who cozied up to fascism out of insecurity.
- Quote (Joanna, 25:53): “Fascism as a place to ally yourself when you feel like you deserve to be on the top of the world and you are somehow on the back foot... how do we take our whiteness and our good breeding and ensure that we are back on the top of the pile?”
- Short Sell Plotline: The banking scandal underlines the show’s ongoing interest in who gets to manipulate narrative, be “in the room,” and profit from shadowy deals.
6. Needle Drop & Mad Men References (30:36–35:21)
- Music as Subtext: Sukiyaki and three separate Mad Men needle drops across recent episodes draw direct lines between Industry’s themes and Mad Men’s exploration of power, advertising, and emotional emptiness.
- Quote (Joanna, 32:44): “Did I leap up? And I know that’s used in Mad Men. So I was like, another Mad Men [reference]... But, like, also, I just rewound it and... played it like nine times driving into the office.”
- Don & Peggy vs. Eric & Harper: The complicated, fraught, and often psychosexual dynamics between Eric and Harper echo Don Draper and Peggy Olson, but with "a dark shadow"—Industry’s mentorship goes to even darker, more transactional places.
7. Harper vs. Yaz: Different Models for Power (39:49-45:58)
- Strategic Personalization: Harper keeps things clinical, business-first (except where it benefits her), while Yaz exploits familial ties and personal relationships to get things done.
- Quote (Rob, 41:39): “Harper isn’t above the personal play when that is what suits her. But for Yaz, it’s like the default.”
- Team Composition and Representation: Harper’s squad is more diverse and draws outcasts and overlooked talents, contrasting sharply with the white (or white-passing) elite Yaz/Whitney power circle.
8. Journalism’s Role (“The Fourth Estate” — 45:58–53:08)
- Legacy Media vs. Digital Crusading: Yaz leverages traditional, insider media for strategic gain, while Harper partners with scrappy, semi-anonymous digital journalists (Jim) to destabilize Tender from the outside.
- Risks and Motivations: Exploration of source motivation, whistleblowing, and the difficulty of cutting through noise, as well as the self-serving dangers of “mining trauma for content.”
- Quote (Joanna, 48:55): “There’s one thing to, like, go through these experiences, and then there’s another level of, ‘Oh, I’m gonna mine this for content.’”
- Power Triangle Expands: This season’s focus on journalism and politics supplements the show’s financial high jinks, exposing multiple paths to (and abuses of) influence.
9. Finance, Institutions, and Returnees (53:08–56:51)
- Real vs. Fictional Institutions: Frequent use of real banks (Goldman Sachs, Deutsche Bank) offers shorthand for audience context.
- Returning Characters: Celebratory notes about Kenny’s poetic return and hopes for more legacy cast to pop back in.
- Risk and Downfall: Eric’s $10 million risk is dissected as both a search for meaning and a likely disaster.
10. Memorable Moments & Quotes
- Kenny (53:08): “The buy side is full of tyrants who deny their tyranny. The sell side is full of slaves who deny their servitude. Somewhere in the middle all of human life.”
- Rob (13:56): “It’s an incredibly vulnerable place to put yourself with somebody who… is incredibly opportunistic and… who understands how to leverage exactly these sorts of confidences.”
- Joanna (24:21): “He’s still wearing his dad’s ghost watch.”
- Rob (36:10): “It’s the dark shadow of that [Mad Men Don-Peggy] relationship”—on Eric and Harper.
Notable Timestamps
- 00:52: Homage to Jodie Walker via Eric’s “a constant, nerve-jangling desire to enshrine [power]” line.
- 03:57: Listener mailbag: on squelch, sausages, and “Lord and Lady Muck.”
- 10:09-11:58: Realities of British politics, media leaks, and Jenny Bevin’s career maneuvering.
- 13:22-19:57: Yaz’s rise to girlboss/femme-fatale/psychic manipulator (Succession, American Psycho, Maxwell parallels).
- 24:45-30:36: Discussion of fascism, class movement, white passing, and the dangerous appeal of status.
- 30:45-35:21: Music, Mad Men references, and the Don/Peggy vs. Eric/Harper dynamic.
- 39:49-45:58: Harper vs. Yaz: differing philosophies of power, race, loyalty.
- 45:58-53:08: Contrasts between legacy media (Yaz) and muckraking digital journalism (Harper).
- 53:08-56:51: Kenny’s poetic reflection on the finance world; real vs. fictional institutions.
- 57:45: Room service “robe goblin” banter.
Tone and Style
- Witty, allusive, irreverent, and literary.
- Metatextual nods to other prestige TV and pop culture touchstones.
- Deep dives into sociopolitical metaphors and British/American contrasts.
- Confessional rapport: plenty of in-jokes, listener engagement, and candid confusion over British details.
Final Takeaways
- Industry continues to probe the corroding effect of wealth, power, and ambition, drawing sharply on real-world scandals, historical echoes, and classic TV DNA (Mad Men, Succession, etc.)
- The episode’s central question isn’t about money per se, but about what desperate people—at every rung of privilege—will sacrifice or rationalize to claw their way to (or back to) the top.
- Journalism and politics are as transactional as finance; everyone’s an opportunist, and the “story” is always open to the highest bidder or most persuasive manipulator.
- The ensemble is growing deeper, more layered, and more steeped in ghosts—historic, personal, and political.
Notable Quotes
- Joanna (02:03): “It is important we’re talking about possessions in a show that is, of course, so fixated on money and capitalism… it’s never human connection. It’s always things and security and legacy, as Jody would like to say.”
- Rob (14:00): “This whole episode is a showcase of the ways in which Yaz is a player in this space and has been for a long time... her capacity is whatever the fuck she wants it to be.”
- Rob (36:10): “It’s the dark shadow of that [Mad Men Don-Peggy] relationship”—on Eric and Harper.
- Kenny (53:08): “The buy side is full of tyrants who deny their tyranny. The sell side is full of slaves who deny their servitude. Somewhere in the middle all of human life.”
For More
- Email feedback or Mad Men references: harpsichordstraponmail.com
- Look forward to Jodie Walker’s return and more “squelch” analysis in the next episode.
Recap by The Prestige TV Podcast, ‘Industry’ S4E3, January 27, 2026.