From your besties at The Wall Street Skinny comes the unofficial companion to HBO Max's hit show Industry. Jennifer Saarbach WAS Harper from Industry. She worked on the exact same desk in Fixed Income Sales & Trading that Harper sits on at Lehman, Barclays and Morgan Stanley. She also has a degree English Literature from Princeton. Kristen Kelly is also ex-Morgan Stanley only brings a slightly different perspective having worked in Investment Banking, Capital Markets and Fixed Income.Together they break down every single detail of your favorite show. This isn't just a recap; it's an education.

Industry | The Unofficial Companion Podcast for HBO Max's "Industry"
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Podcast Overview
From your besties at The Wall Street Skinny comes the unofficial companion to HBO Max's hit show Industry. Jennifer Saarbach WAS Harper from Industry. She worked on the exact same desk in Fixed Income Sales & Trading that Harper sits on at Lehman, Barclays and Morgan Stanley. She also has a degree English Literature from Princeton. Kristen Kelly is also ex-Morgan Stanley only brings a slightly different perspective having worked in Investment Banking, Capital Markets and Fixed Income.Together they break down every single detail of your favorite show. This isn't just a recap; it's an education.
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Publishing Since
9/27/2024
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Recent Episodes

March 2, 2026
Industry S4E8 "Both/And" | Where does Industry go from here?
<p>It's a bittersweet day at The Wall Street Skinny, where we are recapping the SEASON FINALE!! While this one is lighter on finance than most episodes this season, we still dig into the mechanics of closing out a massive short position without spooking the tape. We also break down how hedge fund fees actually work — the industry-standard "two and twenty" structure where managers earn a 2% management fee on assets under management plus 20% of profits — and use that framework to reverse-engineer what this three-person fund operating out of a hotel room should have actually earned versus what got paid out. The numbers don't quite add up, and we have thoughts.This finale also takes a hard pivot into politics, power brokering, and some very dark territory for one of our favorite characters. We trace every reference and detail — from Walt Whitman to the Talented Mr. Ripley, George Orwell to Henry VIII — and debate what the show is setting up for its next chapter. Character arcs that have been building all season reach their breaking points, alliances shatter in stunning ways, and the episode forces us to ask whether people are truly capable of change or destined to become the very thing they fought against.We share our honest reactions to what worked and what left us frustrated, revisit our season-long theories one final time, and give our last bullish and bearish calls of the season. Thank you to every single listener who joined us on this ride — your feedback, theories, and insights made this our favorite recording day of the week. See you next season.</p><p><br></p>

February 23, 2026
Industry S4E7 "Points of Emphasis" | Some Promises Weren't Meant to Be Kept
Industry analysts dissect season four, episode seven, "Points of Emphasis," exploring Whitney's power plays, Yasmin's political schemes, and the emotional fallout as characters face difficult choices and shifting alliances.

February 16, 2026
Industry S4E6 "Dear Henry": Why This Might Be the Greatest Episode of Industry Ever Made
Podcast hosts recap Industry's episode focusing on Harper's attack on Tender at the Alpha Conference, complete with financial analysis and real-world fraud parallels, while exploring unsettling character developments and shocking revelations.
34 total episodes available with 12 transcripts
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