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♪ (ENERGETIC DREAMY MUSIC
PLAYING) ♪
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00:00:13,240 --> 00:00:15,879
You know, people mistake
their needs being satisfied
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00:00:15,880 --> 00:00:16,999
for freedom,
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00:00:17,000 --> 00:00:19,359
but when it drinks this well,
who are we to argue?
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00:00:19,360 --> 00:00:21,879
HILARY WYNDHAM: How did you know
I was a Lagavulin man?
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00:00:21,880 --> 00:00:24,119
I just wish you'd sent
a revolver instead.
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00:00:24,120 --> 00:00:25,759
Oh, well, you're going
to get that next week.
8
00:00:25,760 --> 00:00:27,479
You can quote SternTao's view,
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00:00:27,480 --> 00:00:28,839
"The shares are trading
above fair value
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00:00:28,840 --> 00:00:29,839
and stand to correct."
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00:00:29,840 --> 00:00:31,319
JIM DYCKER:
I have more valuable sources
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00:00:31,320 --> 00:00:33,199
than a barely nascent fund
to quote,
13
00:00:33,200 --> 00:00:34,879
especially as you're yet
to give me anything
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00:00:34,880 --> 00:00:37,999
more material on Tender
other than what I already have.
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00:00:38,000 --> 00:00:39,719
Look, I think
they're processing porn
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00:00:39,720 --> 00:00:41,319
and gambling payments
in jurisdictions
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00:00:41,320 --> 00:00:43,639
where it's illegal and using
third-party acquisitions
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00:00:43,640 --> 00:00:45,719
to wash them, even
though Halberstram has mooted
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00:00:45,720 --> 00:00:47,359
that he may wind up
those income sources.
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00:00:47,360 --> 00:00:48,679
Well, shit.
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00:00:48,680 --> 00:00:50,319
I will give you a quote.
22
00:00:50,320 --> 00:00:52,239
"SternTao are
actively pursuing Tender
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00:00:52,240 --> 00:00:54,599
as a potential short,
among other positions."
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00:00:54,600 --> 00:00:56,399
Yeah, my article isn't
a cotillion
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00:00:56,400 --> 00:00:57,479
for your new venture.
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00:00:57,480 --> 00:00:59,399
Are you calling Tender
fraudulent or not?
27
00:00:59,400 --> 00:01:02,039
I mean, I don't think I'll get
the F-word past my editor.
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00:01:02,040 --> 00:01:04,039
HARPER STERN: Is there
a not insignificant chance
29
00:01:04,040 --> 00:01:06,679
that your piece gets gutted
or squashed by legal?
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00:01:06,680 --> 00:01:08,239
No. The worst-case scenario is
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00:01:08,240 --> 00:01:09,959
the more alarmist language is
sanded down.
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00:01:09,960 --> 00:01:11,999
I view it as the first
in a potential series.
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00:01:12,000 --> 00:01:14,239
I'm trying to get financial sign-off
from my editor
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00:01:14,240 --> 00:01:16,080
for underground reconnaissance
further afield.
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00:01:16,520 --> 00:01:17,959
Can I be blunt?
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Are you short Tender
in a personal account?
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00:01:19,600 --> 00:01:20,799
Excuse me?
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00:01:20,800 --> 00:01:22,239
Do you stand to gain financially
39
00:01:22,240 --> 00:01:23,839
by speaking negatively
about them?
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00:01:23,840 --> 00:01:26,479
I saw your piece
about getting fleeced in FTX.
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00:01:26,480 --> 00:01:28,079
I'd understand if you were...
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00:01:28,080 --> 00:01:29,719
looking for shortcuts
to rebuild your life.
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00:01:29,720 --> 00:01:31,239
You know what?
I am rebuilding my life.
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00:01:31,240 --> 00:01:32,839
Through my honest work.
All right?
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00:01:32,840 --> 00:01:34,679
Certainly not by being
naive enough to go back
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00:01:34,680 --> 00:01:35,839
to the thing that burned me.
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00:01:35,840 --> 00:01:38,359
I don't even have an active
trading account anymore.
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00:01:38,360 --> 00:01:39,719
Doesn't sound
like you're on your way
49
00:01:39,720 --> 00:01:41,079
to our new investor breakfast.
50
00:01:41,080 --> 00:01:43,279
HILARY: Eric,
I would have been excited
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00:01:43,280 --> 00:01:45,239
to have come
and listened to you and...
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- ERIC TAO: Harper.
- (GASPS MOCKINGLY)
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00:01:46,880 --> 00:01:49,279
Ah, unforgettably
forgettable memories
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00:01:49,280 --> 00:01:50,919
from the Pierpoint
killing floor.
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00:01:50,920 --> 00:01:53,599
ERIC: Well, we're
calling ourselves "SternTao."
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00:01:53,600 --> 00:01:55,079
Between you and me,
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00:01:55,080 --> 00:01:57,559
the short only fund is
a little high-risk for us
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00:01:57,560 --> 00:01:59,239
at the Railway Pension Scheme.
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00:01:59,240 --> 00:02:00,639
Well, if there's
any more protein
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00:02:00,640 --> 00:02:02,359
on the illegal payments
laundering thesis,
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00:02:02,360 --> 00:02:03,599
- I want it.
- JIM: Yeah, you know,
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00:02:03,600 --> 00:02:05,119
this isn't
how this relationship works.
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00:02:05,120 --> 00:02:06,879
FINDIGEST STAFF 1: Yeah,
stop calling it "click-bait"
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00:02:06,880 --> 00:02:08,079
and call it
"curiosity gathering."
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00:02:08,080 --> 00:02:09,239
Hello?
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00:02:09,240 --> 00:02:11,279
ERIC: I hope your son gets
your money's worth at Yale,
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00:02:11,280 --> 00:02:12,399
and don't worry,
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00:02:12,400 --> 00:02:13,760
he'll come back to you
eventually.
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00:02:14,480 --> 00:02:16,039
Do you really believe that?
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00:02:16,040 --> 00:02:17,240
For a loan, yeah.
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00:02:18,000 --> 00:02:19,079
♪ (MUSIC FADES) ♪
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00:02:19,080 --> 00:02:21,119
Just trying to find
common ground with the guy.
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00:02:21,120 --> 00:02:23,120
What is this,
the Deadbeat Dads Club?
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00:02:25,400 --> 00:02:27,159
I think this might be
too intimate a space
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00:02:27,160 --> 00:02:28,440
to be working together.
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00:02:29,360 --> 00:02:30,919
ERIC:
Who were you on the phone to?
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♪ (INTRIGUING SYNTH MUSIC
PLAYING) ♪
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00:02:34,080 --> 00:02:37,239
The Railway Pension scheme
was long odds anyway.
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00:02:37,240 --> 00:02:39,879
They don't have that kind
of appetite for risk.
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00:02:39,880 --> 00:02:43,239
The composition of our audience
who've confirmed for breakfast...
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00:02:43,240 --> 00:02:46,799
family offices,
high-net worth individuals.
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00:02:46,800 --> 00:02:47,880
Dumb money?
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00:02:49,240 --> 00:02:50,479
You lead us off.
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00:02:50,480 --> 00:02:52,520
I'll fill in the gaps.
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00:02:53,040 --> 00:02:54,120
Okay.
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00:02:56,880 --> 00:02:58,039
(HENRY MUCK CHUCKLES)
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♪ (INTRIGUING MUSIC CONTINUES) ♪
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00:03:02,560 --> 00:03:04,959
When you fuck my mouth
with your tongue like that,
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00:03:04,960 --> 00:03:06,480
I know I've got you back.
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00:03:08,080 --> 00:03:09,319
- (SOFT KNOCKING)
- HAYLEY CLAY: Sorry.
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00:03:09,320 --> 00:03:12,319
I just wanted to tell you
that Jennifer Bevan's here.
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00:03:12,320 --> 00:03:13,439
Your 9:00 a.m.
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00:03:13,440 --> 00:03:15,239
Great.
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00:03:15,240 --> 00:03:16,760
- Thanks, Hayley.
- HAYLEY CLAY: Yeah.
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00:03:17,920 --> 00:03:19,040
(YASMIN KARA-HANANI CHUCKLES)
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00:03:19,760 --> 00:03:21,399
You can't talk like that
in here.
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00:03:21,400 --> 00:03:22,399
I can.
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00:03:22,400 --> 00:03:23,520
And I will.
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00:03:24,360 --> 00:03:25,719
Now, you need to focus
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00:03:25,720 --> 00:03:28,119
on the societal benefit angle
of the app,
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00:03:28,120 --> 00:03:29,439
financial well-being.
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00:03:29,440 --> 00:03:32,199
But I also think that we should
really use this time with Bevan
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00:03:32,200 --> 00:03:35,759
to highlight
the Muck Renaissance, you know?
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00:03:35,760 --> 00:03:37,319
Just as much
as you feel comfortable with.
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00:03:37,320 --> 00:03:39,319
Men shouldn't feel a stigma
when talking
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00:03:39,320 --> 00:03:40,999
about their mental health,
that kind of thing.
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00:03:41,000 --> 00:03:43,120
Yeah, won't she... Won't she
see through me, I don't know...
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00:03:43,640 --> 00:03:45,119
weaponizing my trauma?
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00:03:45,120 --> 00:03:48,359
But, Henry,
narrative is important.
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00:03:48,360 --> 00:03:50,439
People are gonna
narrativize this for you,
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00:03:50,440 --> 00:03:52,040
so you might as well control it.
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00:03:53,080 --> 00:03:56,119
She saw you at your worst.
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00:03:56,120 --> 00:03:57,679
She's gonna be
feeding back to government.
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00:03:57,680 --> 00:03:59,679
We just need
to build her trust in you.
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00:03:59,680 --> 00:04:01,319
HENRY: Yeah, Whitney
and the Tender board trust me,
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00:04:01,320 --> 00:04:02,439
that's what matters.
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00:04:02,440 --> 00:04:04,319
I mean, they made me CEO
for fuck's sake,
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00:04:04,320 --> 00:04:05,959
but th... this isn't about me.
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00:04:05,960 --> 00:04:07,799
This is about the details
of the company,
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00:04:07,800 --> 00:04:09,559
and... and in the immediacy,
121
00:04:09,560 --> 00:04:11,479
it's about getting
the IBN Bauer merger
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00:04:11,480 --> 00:04:12,799
over the line
with the regulator.
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00:04:12,800 --> 00:04:15,519
No, no, look, if I make it
too personal, I'll...
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00:04:15,520 --> 00:04:17,479
I'll just put my fucking foot
in my mouth.
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00:04:17,480 --> 00:04:18,959
- (EXHALES SHAKILY)
- Darling...
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♪ (DREAMY MUSIC PLAYING) ♪
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00:04:20,240 --> 00:04:21,600
...you are the company.
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00:04:22,960 --> 00:04:24,240
You're the head and the heart.
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00:04:25,280 --> 00:04:26,560
It's all about you.
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00:04:30,280 --> 00:04:32,359
I'd be dead without you,
you know that?
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00:04:32,360 --> 00:04:33,599
(YASMIN CHUCKLES)
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♪ (MUSIC SWELLS) ♪
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- Ready?
- Yeah.
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00:04:39,040 --> 00:04:40,160
Yeah.
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00:04:42,680 --> 00:04:43,759
♪ (MUSIC FADES) ♪
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Tender's ambitions predate me.
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00:04:46,400 --> 00:04:48,759
I never made
any attempt to, um...
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00:04:48,760 --> 00:04:51,439
to cover up my failure at Lumi,
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00:04:51,440 --> 00:04:54,639
nor have I oversold
my successful,
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00:04:54,640 --> 00:04:57,639
if, uh, short-lived,
political career.
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00:04:57,640 --> 00:04:59,319
These are
the vicissitudes of life
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00:04:59,320 --> 00:05:00,839
in the arena as I see it.
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00:05:00,840 --> 00:05:03,479
And Jennifer, you
and Henry are on the same page.
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00:05:03,480 --> 00:05:04,639
I mean, you surely know
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00:05:04,640 --> 00:05:06,359
what it's like to live
in the firing line
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00:05:06,360 --> 00:05:08,999
simply because you care enough
to be engaged.
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00:05:09,000 --> 00:05:10,439
HENRY: Yeah,
you know what? Um...
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00:05:10,440 --> 00:05:12,319
(INDISTINCT CHATTER)
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00:05:12,320 --> 00:05:13,999
If you want to talk
about me, let's, uh...
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00:05:14,000 --> 00:05:16,519
(CLEARS THROAT)
...let's talk about me.
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00:05:16,520 --> 00:05:19,519
I could talk
about my profound struggles
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00:05:19,520 --> 00:05:22,999
with mental health, uh,
my family's barbaric history.
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00:05:23,000 --> 00:05:24,199
I could talk about the fact
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00:05:24,200 --> 00:05:27,839
I most likely wouldn't be
sat here if my wife...
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00:05:27,840 --> 00:05:29,759
hadn't have pulled me
out of a pretty dark hole
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00:05:29,760 --> 00:05:31,479
after the election.
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00:05:31,480 --> 00:05:34,759
But your party consistently
voted to underfund access
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00:05:34,760 --> 00:05:36,079
to mental health on the NHS.
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00:05:36,080 --> 00:05:37,839
Yeah,
and if you check my record,
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00:05:37,840 --> 00:05:40,399
you'll see that I defied
a three-line whip
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00:05:40,400 --> 00:05:42,040
to oppose that legislation.
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00:05:43,040 --> 00:05:46,239
Jenni, you saw the worst of it.
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00:05:46,240 --> 00:05:47,639
HENRY: Yeah, look, um...
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00:05:47,640 --> 00:05:50,119
(INDISTINCT CHATTER)
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00:05:50,120 --> 00:05:51,719
I had to be told
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00:05:51,720 --> 00:05:54,839
how appalling I was to you,
and I have never felt
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00:05:54,840 --> 00:05:56,000
- such shame...
- Henry.
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00:05:57,000 --> 00:05:58,720
Your letter said it all.
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00:05:59,320 --> 00:06:00,439
I know the cycles.
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00:06:00,440 --> 00:06:02,679
My brother also
had issues with alcohol.
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00:06:02,680 --> 00:06:03,840
It's day by day.
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00:06:04,600 --> 00:06:05,640
Yeah.
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00:06:06,720 --> 00:06:09,199
Anyway, uh... I want to make
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00:06:09,200 --> 00:06:10,879
your voters' lives
a little easier,
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00:06:10,880 --> 00:06:13,400
and a banking license will
allow Tender to do just that.
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00:06:14,320 --> 00:06:16,639
First, you need
to let us buy this bank.
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00:06:16,640 --> 00:06:17,999
♪ (PENSIVE DREAMY MUSIC
PLAYING) ♪
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00:06:18,000 --> 00:06:20,359
The business secretary is
going to reason
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00:06:20,360 --> 00:06:22,679
that Tender's merger
with a European bank
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00:06:22,680 --> 00:06:25,359
like IBN Bauer
is anti-competitive.
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00:06:25,360 --> 00:06:27,479
Consolidation of the banking
and fintech sectors
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00:06:27,480 --> 00:06:29,159
across Europe.
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00:06:29,160 --> 00:06:31,399
Yeah, well, we don't sell it
to Lisa like that.
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00:06:31,400 --> 00:06:33,439
We sell it to her
and the regulator
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00:06:33,440 --> 00:06:35,999
as the consumer being
given a fresh choice,
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00:06:36,000 --> 00:06:38,439
away
from fossilized institutions,
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00:06:38,440 --> 00:06:42,799
and maybe even an opportunity
for a post-Brexit relationship
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00:06:42,800 --> 00:06:44,359
with the European
banking sector.
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00:06:44,360 --> 00:06:45,559
We don't talk about Brexit.
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00:06:45,560 --> 00:06:46,999
Yeah, look, nobody believes
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00:06:47,000 --> 00:06:49,119
we can be
the next Silicon Valley.
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00:06:49,120 --> 00:06:51,399
Nobody believes
that we can attract
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00:06:51,400 --> 00:06:54,279
that kind of
direct foreign investment
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00:06:54,280 --> 00:06:57,039
because of your government's
over-regulation.
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00:06:57,040 --> 00:07:00,519
Every day for the past month,
I've walked these floors,
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00:07:00,520 --> 00:07:04,559
and working with our team,
I have never felt more strongly
197
00:07:04,560 --> 00:07:06,119
that this is our chance
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00:07:06,120 --> 00:07:09,120
to be a genuine leader
in a new frontier.
199
00:07:09,640 --> 00:07:11,919
You guys can own it.
200
00:07:11,920 --> 00:07:14,639
Let Tender help you
help the government.
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00:07:14,640 --> 00:07:15,880
Push through the merger.
202
00:07:18,360 --> 00:07:20,999
We're 100 percent net short.
203
00:07:21,000 --> 00:07:24,919
Fads, secular losers,
five to ten core shorts
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00:07:24,920 --> 00:07:27,999
with smaller satellite positions
and sector overlay.
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00:07:28,000 --> 00:07:29,199
Running that concentrated,
206
00:07:29,200 --> 00:07:30,959
you could get taken out
by one position.
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00:07:30,960 --> 00:07:32,559
MICHAEL ABBOTT:
The market's way too volatile
208
00:07:32,560 --> 00:07:35,399
to be taking a large
short-directional bet. Bonkers.
209
00:07:35,400 --> 00:07:36,999
Short-only,
you've essentially given up
210
00:07:37,000 --> 00:07:38,719
before you've even started.
211
00:07:38,720 --> 00:07:40,360
HARPER:
You want differentiation.
212
00:07:41,320 --> 00:07:43,359
You see a market
that only goes up.
213
00:07:43,360 --> 00:07:46,439
We see
a target-rich environment.
214
00:07:46,440 --> 00:07:48,559
The family offices
that you invest for,
215
00:07:48,560 --> 00:07:50,679
the clients that you represent,
216
00:07:50,680 --> 00:07:53,479
demand
an uncorrelated return profile.
217
00:07:53,480 --> 00:07:56,039
High risk, high reward.
218
00:07:56,040 --> 00:07:58,439
ERIC: I've worked with Harper
for many years.
219
00:07:58,440 --> 00:08:02,559
That's a bone-deep moneymaker.
220
00:08:02,560 --> 00:08:05,199
I know her as the woman
who petulantly gated her fund.
221
00:08:05,200 --> 00:08:06,320
(UTENSIL CLINKS SOFTLY)
222
00:08:07,560 --> 00:08:09,919
Or the woman
who orchestrated her freedom
223
00:08:09,920 --> 00:08:12,479
so she could be stood
in front of you today.
224
00:08:12,480 --> 00:08:14,760
INVESTOR 1: Tell me
SternTao isn't just two people.
225
00:08:15,280 --> 00:08:16,439
Where's the team?
226
00:08:16,440 --> 00:08:18,199
Who's your trader?
227
00:08:18,200 --> 00:08:22,119
PIERRE WOMACK: In truth,
I feel a little disappointed.
228
00:08:22,120 --> 00:08:24,799
I was very excited
to meet you both, but...
229
00:08:24,800 --> 00:08:26,320
(BREATHES DEEPLY)
230
00:08:27,160 --> 00:08:29,399
...you've either
got a short that puts
231
00:08:29,400 --> 00:08:31,880
the cat inside the pigeon,
or you don't.
232
00:08:34,280 --> 00:08:35,960
Who says I don't have that idea?
233
00:08:38,600 --> 00:08:40,760
Eric didn't misspeak
about secular losers.
234
00:08:41,520 --> 00:08:44,239
Broken business models? Okay.
235
00:08:44,240 --> 00:08:47,559
Slightly sketchy
management teams? Fine.
236
00:08:47,560 --> 00:08:48,799
♪ (INTRIGUING DREAMY MUSIC
PLAYING) ♪
237
00:08:48,800 --> 00:08:51,359
But my real passion lies
238
00:08:51,360 --> 00:08:53,480
with finding dead men walking.
239
00:08:54,640 --> 00:08:57,479
Where the base case is
a total reevaluation
240
00:08:57,480 --> 00:08:59,560
and a re-rating
of the equity story.
241
00:09:03,040 --> 00:09:04,640
We have our eyes on Tender.
242
00:09:06,320 --> 00:09:08,920
♪ (MUSIC TURNS TENSE) ♪
243
00:09:14,520 --> 00:09:17,879
AVA ANAND: The market is
treating that as a growth stock.
244
00:09:17,880 --> 00:09:19,919
What exactly is your thesis?
245
00:09:19,920 --> 00:09:23,159
We have fundamental misgivings
about their core offering.
246
00:09:23,160 --> 00:09:26,239
PIERRE: Too high risk
for such a generalized,
247
00:09:26,240 --> 00:09:28,599
detail-poor take.
248
00:09:28,600 --> 00:09:29,999
HARPER: Pierre... (CHUCKLES)
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00:09:30,000 --> 00:09:32,079
...anyone who wants
to place money with us
250
00:09:32,080 --> 00:09:34,719
will have full access
to our researched view
251
00:09:34,720 --> 00:09:38,480
above and beyond cursory remarks
at an introductory breakfast.
252
00:09:40,640 --> 00:09:41,720
(CHUCKLES SOFTLY)
253
00:09:42,800 --> 00:09:44,559
FERDINAND SCHWARZWALD
On our IBN Bauer merger,
254
00:09:44,560 --> 00:09:47,199
the Prudential Regulation
Authority dragging their heels
255
00:09:47,200 --> 00:09:49,039
has allowed
a quiet noise in Vienna
256
00:09:49,040 --> 00:09:51,159
- to develop into a bit of a din.
- ♪ (TENSE MUSIC CONTINUES) ♪
257
00:09:51,160 --> 00:09:53,159
FERDINAND: Given the family voted
in favor of the merger,
258
00:09:53,160 --> 00:09:55,239
I thought this was a non-issue
259
00:09:55,240 --> 00:09:57,639
I could handle personally
without it reaching you.
260
00:09:57,640 --> 00:10:00,839
But the Bauer family still
represents two board seats.
261
00:10:00,840 --> 00:10:03,079
Moritz and his mother have been
audibly re-litigating
262
00:10:03,080 --> 00:10:06,119
the concerns they raised
when we were negotiating.
263
00:10:06,120 --> 00:10:08,719
They've now asked for a sit-down
with your executive team.
264
00:10:08,720 --> 00:10:10,079
His opposition is immaterial.
265
00:10:10,080 --> 00:10:11,679
There was a majority vote.
266
00:10:11,680 --> 00:10:14,599
Moritz and his mother voted
to sell their family bank.
267
00:10:14,600 --> 00:10:16,639
It's a legacy board seat.
They're paid to have no issues.
268
00:10:16,640 --> 00:10:17,959
They're paid
to shut the fuck up.
269
00:10:17,960 --> 00:10:20,079
Yeah, we can't strike
such a hostile tone.
270
00:10:20,080 --> 00:10:21,519
We have to act quickly here.
271
00:10:21,520 --> 00:10:23,199
The meeting with the regulator
is tomorrow,
272
00:10:23,200 --> 00:10:24,759
and we need
that banking license.
273
00:10:24,760 --> 00:10:25,759
Bevan's in hand,
274
00:10:25,760 --> 00:10:27,519
but Dearn will be
a harder nut to crack.
275
00:10:27,520 --> 00:10:29,159
But this is all
for the fucking birds
276
00:10:29,160 --> 00:10:31,399
unless IBN Bauer
follow through and sell.
277
00:10:31,400 --> 00:10:33,159
Who's the agitator?
The son or the mother?
278
00:10:33,160 --> 00:10:35,679
FERDINAND: The son.
Moritz's issue is security.
279
00:10:35,680 --> 00:10:37,679
Says he fears the data
280
00:10:37,680 --> 00:10:40,119
of IBN's banking clients
being targeted, harvested,
281
00:10:40,120 --> 00:10:41,239
what have you, post-merger.
282
00:10:41,240 --> 00:10:42,559
LOUISA STÖCKL:
Uh, it's ludicrous.
283
00:10:42,560 --> 00:10:44,679
Our anti-fraud systems are
state of the art,
284
00:10:44,680 --> 00:10:46,759
and they're
an antiquated Austrian bank.
285
00:10:46,760 --> 00:10:48,959
Didn't the Bauers
finance the Reich?
286
00:10:48,960 --> 00:10:50,559
It's a bit late
to be growing a conscience
287
00:10:50,560 --> 00:10:52,799
on GDPR issues in 2026.
288
00:10:52,800 --> 00:10:54,719
They've given
huge financial support
289
00:10:54,720 --> 00:10:57,279
to Shoah survivors.
Tens of millions.
290
00:10:57,280 --> 00:10:59,119
No varnish. My reading,
291
00:10:59,120 --> 00:11:01,359
this guy is an Alpine fuckboy
with an outsized sense
292
00:11:01,360 --> 00:11:03,319
of his own relevance
and recourse.
293
00:11:03,320 --> 00:11:07,199
Sorry to add my voice here,
but in my experience,
294
00:11:07,200 --> 00:11:10,559
testy family members respond
well to a bit of face time.
295
00:11:10,560 --> 00:11:11,999
You know, an ego massage.
296
00:11:12,000 --> 00:11:13,279
Exactly.
297
00:11:13,280 --> 00:11:15,999
Support scaffold for delusions
of his own grandeur.
298
00:11:16,000 --> 00:11:17,479
Working title for my biographer.
299
00:11:17,480 --> 00:11:19,359
- (BOTH CHUCKLE)
- (SCATTERED CHUCKLING)
300
00:11:19,360 --> 00:11:21,119
HENRY: Uh, in all seriousness,
301
00:11:21,120 --> 00:11:23,599
we can't risk postponement,
or God forbid,
302
00:11:23,600 --> 00:11:26,199
pay the termination fees
if this thing falls apart.
303
00:11:26,200 --> 00:11:29,159
I think if they've asked,
we should all go.
304
00:11:29,160 --> 00:11:31,559
You know? Multiple faces will
make him feel
305
00:11:31,560 --> 00:11:33,119
important and heard.
306
00:11:33,120 --> 00:11:35,239
Lend him our ears.
Pretend we're listening.
307
00:11:35,240 --> 00:11:37,719
Come back,
deal with the regulator.
308
00:11:37,720 --> 00:11:40,079
- ROBIN WILLIAMSON: Henry, I...
- No, no, no... No.
309
00:11:40,080 --> 00:11:41,600
It's his executive decision.
310
00:11:42,800 --> 00:11:44,279
Sorry, I don't mean
to be too direct,
311
00:11:44,280 --> 00:11:47,799
but in what capacity are you
in this room exactly?
312
00:11:47,800 --> 00:11:50,799
Oh, um, she's a paid consultant,
313
00:11:50,800 --> 00:11:53,080
and, uh... and we need her here.
314
00:11:55,040 --> 00:11:57,040
(INHALES, CHUCKLES)
315
00:12:03,240 --> 00:12:04,759
♪ (MUSIC FADES) ♪
316
00:12:04,760 --> 00:12:08,199
That Tender idea,
was that just... contrarianism,
317
00:12:08,200 --> 00:12:10,240
or you think
there's a there there?
318
00:12:11,360 --> 00:12:12,400
(CUP CLATTERS)
319
00:12:13,920 --> 00:12:15,839
I read that they're
in the process of acquiring
320
00:12:15,840 --> 00:12:17,199
an Austrian bank.
321
00:12:17,200 --> 00:12:19,879
I got a tip that there might be
more going on
322
00:12:19,880 --> 00:12:20,999
underneath the hood.
323
00:12:21,000 --> 00:12:23,239
What do you mean a fucking tip?
324
00:12:23,240 --> 00:12:25,639
A journalist shared
an unpublished hypothesis.
325
00:12:25,640 --> 00:12:28,159
Does he or his employer
have enough caché
326
00:12:28,160 --> 00:12:29,799
that the market will care?
327
00:12:29,800 --> 00:12:32,479
Or is he just
a self-published scribbler?
328
00:12:32,480 --> 00:12:35,039
No, he works for FinDigest.
329
00:12:35,040 --> 00:12:37,760
Why the fuck is he leaking
this stuff piecemeal to you?
330
00:12:38,800 --> 00:12:41,359
The ethical blowback
for him could be huge.
331
00:12:41,360 --> 00:12:43,439
HARPER: (SIGHS) He's sending
pre-publication questions
332
00:12:43,440 --> 00:12:45,919
to Tender, but I don't know
when he's publishing.
333
00:12:45,920 --> 00:12:47,559
How much does a stock re-rate
334
00:12:47,560 --> 00:12:50,039
when a market darling's been
proven to be overvalued?
335
00:12:50,040 --> 00:12:52,320
♪ (SUSPENSEFUL DREAMY MUSIC
PLAYING) ♪
336
00:12:53,040 --> 00:12:54,120
Well...
337
00:12:55,280 --> 00:12:58,439
the operative word
there is "proven."
338
00:12:58,440 --> 00:13:00,839
You can't kill a blue chip
with a thousand cuts
339
00:13:00,840 --> 00:13:01,880
from some reporter.
340
00:13:02,680 --> 00:13:04,559
Look at Herbalife.
341
00:13:04,560 --> 00:13:06,439
Looks like a pyramid scheme.
342
00:13:06,440 --> 00:13:08,559
Smells like a pyramid scheme.
343
00:13:08,560 --> 00:13:13,039
Ackman intellectually lays out
how it functions as one.
344
00:13:13,040 --> 00:13:15,199
Maybe that's the truth.
345
00:13:15,200 --> 00:13:17,719
But what good is the truth?
You've got timing.
346
00:13:17,720 --> 00:13:20,399
You got Herbalife's PR machine.
347
00:13:20,400 --> 00:13:23,880
You got Carl Icahn talking up
the other side of the trade.
348
00:13:24,920 --> 00:13:26,520
How good a storyteller are you?
349
00:13:27,920 --> 00:13:31,040
And how long
can you sustain the story?
350
00:13:32,960 --> 00:13:36,240
Without a smoking gun,
you will lose.
351
00:13:37,440 --> 00:13:42,000
Ackman closed out Herbalife,
he lost.
352
00:13:45,440 --> 00:13:47,040
So can we prove it? And then...
353
00:13:47,720 --> 00:13:49,880
can we be loud enough?
354
00:13:51,240 --> 00:13:55,359
Short-only work is ugly,
hard, investigative.
355
00:13:55,360 --> 00:13:57,040
It's anti-status quo,
356
00:13:58,200 --> 00:13:59,800
anti-establishment...
357
00:14:01,440 --> 00:14:02,880
anti-power.
358
00:14:06,320 --> 00:14:08,280
Which part of that is meant
to be a problem for us?
359
00:14:12,520 --> 00:14:13,679
♪ (MUSIC FADES) ♪
360
00:14:13,680 --> 00:14:15,439
- No, no, no. Hold on a sec. Whit?
- I'm...
361
00:14:15,440 --> 00:14:18,319
HENRY: FinDigest have just sent
pre-publication questions.
362
00:14:18,320 --> 00:14:20,439
Who the fuck is this Dycker guy?
Where's he getting it from?
363
00:14:20,440 --> 00:14:21,999
WHITNEY HALBERSTRAM:
Ah, it's just conjecture.
364
00:14:22,000 --> 00:14:24,559
Yeah, well, he says,
"With these figures in mind..."
365
00:14:24,560 --> 00:14:25,919
- Hayley.
- "...it cannot be ruled out
366
00:14:25,920 --> 00:14:29,359
that Tender continues
to process illicit transactions,
367
00:14:29,360 --> 00:14:32,079
including gambling
and pornography payments
368
00:14:32,080 --> 00:14:34,119
through African jurisdictions,
369
00:14:34,120 --> 00:14:36,679
where such services are legal
for non-residents."
370
00:14:36,680 --> 00:14:37,919
I mean, is he saying
371
00:14:37,920 --> 00:14:39,879
we're being willfully blind
to money laundering,
372
00:14:39,880 --> 00:14:41,359
or is it intentional?
Which is it?
373
00:14:41,360 --> 00:14:42,959
All it demonstrates
is his incompetence
374
00:14:42,960 --> 00:14:43,999
in reading a balance sheet
375
00:14:44,000 --> 00:14:45,359
with as many moving parts
as ours.
376
00:14:45,360 --> 00:14:47,439
We're not giving this guy
oxygen. You know why?
377
00:14:47,440 --> 00:14:49,039
More than likely,
he's had some rogue,
378
00:14:49,040 --> 00:14:50,279
trumped-up report slipped to him
379
00:14:50,280 --> 00:14:51,399
by some amateur short-seller
380
00:14:51,400 --> 00:14:53,159
looking to make a quick buck
day-trading our shares
381
00:14:53,160 --> 00:14:54,599
when this grubby
little piece gets airtime.
382
00:14:54,600 --> 00:14:57,560
Yeah, well,
how can you be so sure?
383
00:14:58,120 --> 00:14:59,279
I guarantee he's talking
384
00:14:59,280 --> 00:15:00,559
to someone
in the hedge fund community.
385
00:15:00,560 --> 00:15:02,279
It happens all the time
in the retail space
386
00:15:02,280 --> 00:15:03,719
with celebrated stories.
387
00:15:03,720 --> 00:15:05,679
It's market manipulation,
pure and simple.
388
00:15:05,680 --> 00:15:07,319
There's no large
institutional short base
389
00:15:07,320 --> 00:15:08,439
for good reason.
390
00:15:08,440 --> 00:15:10,079
Okay, well, what's our response?
391
00:15:10,080 --> 00:15:12,039
LOUISA: Robust legal action,
if needs be.
392
00:15:12,040 --> 00:15:13,719
Regardless of their accusation,
393
00:15:13,720 --> 00:15:15,799
I'll draft up
an airtight response.
394
00:15:15,800 --> 00:15:18,199
Their in-house legal will be
pushing back
395
00:15:18,200 --> 00:15:19,839
on a lot of this
pre-publication.
396
00:15:19,840 --> 00:15:21,199
I think we don't engage.
397
00:15:21,200 --> 00:15:23,239
A story like this could
threaten the merger.
398
00:15:23,240 --> 00:15:24,879
Moritz doesn't need
another rock to throw.
399
00:15:24,880 --> 00:15:26,160
Yasmin, what do you think?
400
00:15:28,880 --> 00:15:31,479
Well, you know,
I don't have the qualifications,
401
00:15:31,480 --> 00:15:32,639
but, um, yeah.
402
00:15:32,640 --> 00:15:34,839
I... I'd say, to Whitney's point,
403
00:15:34,840 --> 00:15:37,119
a blanket statement,
if they publish.
404
00:15:37,120 --> 00:15:39,279
"The allegations are
spurious," et cetera.
405
00:15:39,280 --> 00:15:40,519
WHITNEY: Yeah, leave it there.
406
00:15:40,520 --> 00:15:42,479
If it even sees daylight.
407
00:15:42,480 --> 00:15:43,919
The story ends
where we say it ends.
408
00:15:43,920 --> 00:15:45,799
- (ELEVATOR DINGS)
- (DOORS WHIRRING OPEN)
409
00:15:45,800 --> 00:15:47,159
Can I talk to you privately,
410
00:15:47,160 --> 00:15:48,279
- quick?
- Yeah. Yeah.
411
00:15:48,280 --> 00:15:49,639
- Of course.
- HAYLEY: Okay, thank you.
412
00:15:49,640 --> 00:15:50,959
YASMIN: Uh, I...
I'll catch up with you.
413
00:15:50,960 --> 00:15:52,439
HENRY: Yeah, meet us
at Farnborough, darling.
414
00:15:52,440 --> 00:15:53,999
Plane sets off in two hours.
415
00:15:54,000 --> 00:15:55,120
(ELEVATOR DOORS CLOSE)
416
00:15:57,600 --> 00:15:58,680
Um...
417
00:16:00,400 --> 00:16:01,560
Um...
418
00:16:02,920 --> 00:16:06,080
I have a confession to make.
419
00:16:06,480 --> 00:16:07,519
YASMIN: Mm-hmm.
420
00:16:07,520 --> 00:16:09,559
Well, yeah.
Anything you say stays with me.
421
00:16:09,560 --> 00:16:11,560
♪ (TENSE MUSIC PLAYING) ♪
422
00:16:12,960 --> 00:16:14,999
I nearly slept
with the journalist
423
00:16:15,000 --> 00:16:16,320
asking those questions.
424
00:16:17,720 --> 00:16:22,359
He, like, followed me...
like, into a club.
425
00:16:22,360 --> 00:16:26,400
And I think I fell asleep,
and I don't...
426
00:16:27,480 --> 00:16:29,119
really remember
the play-by-play.
427
00:16:29,120 --> 00:16:31,759
W... Wait, so what,
he forced himself on you?
428
00:16:31,760 --> 00:16:32,919
HAYLEY: No.
429
00:16:32,920 --> 00:16:35,359
No, not... not really at all.
430
00:16:35,360 --> 00:16:36,440
I mean...
431
00:16:37,040 --> 00:16:38,840
I was pretty fucked up.
432
00:16:41,760 --> 00:16:42,800
Did you fuck him?
433
00:16:45,640 --> 00:16:47,879
Did you answer
any of his questions?
434
00:16:47,880 --> 00:16:48,920
HAYLEY: No.
435
00:16:52,560 --> 00:16:54,279
I hate when men try
and take something
436
00:16:54,280 --> 00:16:55,359
that isn't theirs.
437
00:16:55,360 --> 00:16:57,600
(BREATHES DEEPLLY)
438
00:17:06,800 --> 00:17:08,440
(CLEARS THROAT) Well...
439
00:17:09,640 --> 00:17:11,479
thanks for telling me.
440
00:17:11,480 --> 00:17:14,279
I like this transparency,
and of course, I, um,
441
00:17:14,280 --> 00:17:16,519
- I... I won't tell anyone.
- (SIGHS) Thank you.
442
00:17:16,520 --> 00:17:17,680
Yeah.
443
00:17:18,400 --> 00:17:19,679
When we get there,
444
00:17:19,680 --> 00:17:22,239
feel free
to explore Vienna tonight.
445
00:17:22,240 --> 00:17:24,159
- Have the night off.
- HAYLEY: Oh, well,
446
00:17:24,160 --> 00:17:26,399
I'm Whitney
and Henry's EA, so...
447
00:17:26,400 --> 00:17:28,000
I need to hear
from either of them.
448
00:17:29,040 --> 00:17:30,160
YASMIN: Mm.
449
00:17:31,360 --> 00:17:32,640
Great, okay.
450
00:17:34,200 --> 00:17:36,000
- Eric, I got us lunch.
- (DOOR CLOSES)
451
00:17:38,840 --> 00:17:39,840
Eric?
452
00:17:41,720 --> 00:17:42,879
TEEN: Are you her?
453
00:17:42,880 --> 00:17:43,919
♪ (MUSIC FADES) ♪
454
00:17:43,920 --> 00:17:45,240
- Who?
- You.
455
00:17:46,320 --> 00:17:47,880
- Lara?
- Lily.
456
00:17:48,720 --> 00:17:49,839
HARPER: Damn.
457
00:17:49,840 --> 00:17:52,880
You're, like, so grown compared
to what was in my head.
458
00:17:53,800 --> 00:17:56,039
You shouldn't really
be thinking about me.
459
00:17:56,040 --> 00:17:58,200
(FOOTSTEPS APPROACHING)
460
00:18:00,880 --> 00:18:03,279
Tell... Tell Mom you, uh...
461
00:18:03,280 --> 00:18:04,360
(BILLS RUSTLING)
462
00:18:05,000 --> 00:18:06,200
...enjoyed yourself.
463
00:18:07,160 --> 00:18:08,240
I will.
464
00:18:08,760 --> 00:18:10,039
I did, mostly.
465
00:18:10,040 --> 00:18:11,720
(FOOTSTEPS DEPARTING)
466
00:18:12,560 --> 00:18:13,800
ERIC: Okay.
467
00:18:20,920 --> 00:18:22,079
LILY TAO: Bye.
468
00:18:22,080 --> 00:18:23,120
Bye.
469
00:18:24,880 --> 00:18:26,120
(DOORS CLOSES)
470
00:18:27,720 --> 00:18:29,880
How's Operation Normal Guy
going?
471
00:18:31,800 --> 00:18:34,439
Having a twin
who's better at stuff
472
00:18:34,440 --> 00:18:36,799
like sports and socializing
473
00:18:36,800 --> 00:18:39,120
fosters a bloody resentment
of the world.
474
00:18:39,720 --> 00:18:40,800
Who knew?
475
00:18:42,080 --> 00:18:43,320
You have siblings?
476
00:18:47,760 --> 00:18:49,359
I got somewhere with brokers
and trading lines.
477
00:18:49,360 --> 00:18:51,680
- I spoke with Kenny.
- Goldman still?
478
00:18:52,960 --> 00:18:56,479
I... I'm not sure how he'd feel
about covering me
479
00:18:56,480 --> 00:18:58,280
since I fired him on a hangover.
480
00:18:59,240 --> 00:19:00,280
Deutsche Bank.
481
00:19:00,760 --> 00:19:02,159
Fuck, ouch.
482
00:19:02,160 --> 00:19:03,759
I hope he didn't fall
off the wagon.
483
00:19:03,760 --> 00:19:05,559
(TELEPHONE RINGING)
484
00:19:05,560 --> 00:19:07,159
Your 3:00 p.m. is here.
485
00:19:07,160 --> 00:19:09,839
So this is your set-up?
(CHUCKLES)
486
00:19:09,840 --> 00:19:11,399
HARPER:
Yeah, it's a little lo-fi.
487
00:19:11,400 --> 00:19:13,439
Eric handles the overhead.
488
00:19:13,440 --> 00:19:15,959
It's mostly club sandwiches
and fries.
489
00:19:15,960 --> 00:19:17,959
- (SWEETPEA GOLIGHTLY CHUCKLES)
- How's Mostyn's?
490
00:19:17,960 --> 00:19:18,960
SWEETPEA: Ooh.
491
00:19:19,800 --> 00:19:22,559
Hmm, the misogyny swings
492
00:19:22,560 --> 00:19:25,120
between patronizing
and lecherous.
493
00:19:26,520 --> 00:19:28,399
- HARPER: God.
- I don't know.
494
00:19:28,400 --> 00:19:31,479
Sometimes, I...
I feel like, um...
495
00:19:31,480 --> 00:19:34,239
Cherry pie left
on the windowsill?
496
00:19:34,240 --> 00:19:35,479
It's a bunch of men
running around
497
00:19:35,480 --> 00:19:36,999
hitting themselves
over the head with a hammer
498
00:19:37,000 --> 00:19:39,079
like fucking cartoon wolves.
499
00:19:39,080 --> 00:19:41,200
(LAUGHS) Yeah.
500
00:19:42,000 --> 00:19:44,879
Well, it's my own fault, so...
501
00:19:44,880 --> 00:19:45,960
HARPER: Hey.
502
00:19:47,480 --> 00:19:48,520
No, it's not.
503
00:19:49,800 --> 00:19:51,119
No, it's not.
504
00:19:51,120 --> 00:19:53,439
That Siren leak was not
your fault.
505
00:19:53,440 --> 00:19:54,519
You did something for you,
506
00:19:54,520 --> 00:19:57,119
and some asshole made it...
not for you.
507
00:19:57,120 --> 00:19:59,240
And I hope he fucking
suffers for it.
508
00:20:00,600 --> 00:20:01,680
Thank you.
509
00:20:02,680 --> 00:20:04,439
When you sent me
that email about Tender,
510
00:20:04,440 --> 00:20:05,479
you piqued my interest.
511
00:20:05,480 --> 00:20:07,719
And you know what I'm like.
I couldn't stop looking.
512
00:20:07,720 --> 00:20:09,479
Mostyn would never.
513
00:20:09,480 --> 00:20:11,599
Tender's IPO deck
from two years ago.
514
00:20:11,600 --> 00:20:13,239
Compare it
to their annual reports.
515
00:20:13,240 --> 00:20:14,439
What am I looking at?
516
00:20:14,440 --> 00:20:16,319
They use euphemisms
about the kind of payments
517
00:20:16,320 --> 00:20:18,999
they're processing.
"Emotional content" is porn.
518
00:20:19,000 --> 00:20:20,279
"Gaming" is gambling.
519
00:20:20,280 --> 00:20:22,879
Clearly, that is a key source
of their revenue back then,
520
00:20:22,880 --> 00:20:25,839
but since the IPO
and over the next five years,
521
00:20:25,840 --> 00:20:27,519
the EMEA region is maturing
522
00:20:27,520 --> 00:20:29,159
into a key driver
of their growth.
523
00:20:29,160 --> 00:20:30,639
And that's not possible?
524
00:20:30,640 --> 00:20:32,039
No, I'm not saying
it's not possible
525
00:20:32,040 --> 00:20:34,199
for EMEA acquisitions
to drive growth.
526
00:20:34,200 --> 00:20:35,399
I'm saying that this...
527
00:20:35,400 --> 00:20:38,159
- (TOILET FLUSHING)
- ...constant erratic evolution
528
00:20:38,160 --> 00:20:41,839
of their strategy isn't
even slightly reflected
529
00:20:41,840 --> 00:20:43,719
in their... in their projections.
530
00:20:43,720 --> 00:20:46,319
So much risk isn't baked
into the share price.
531
00:20:46,320 --> 00:20:47,880
- The...
- ERIC: Hi again, Sweetpea!
532
00:20:48,800 --> 00:20:51,239
Hi! Hi, Eric!
533
00:20:51,240 --> 00:20:54,679
So... (CLEARS THROAT)
...if your thesis is correct,
534
00:20:54,680 --> 00:20:57,799
they're still continuing
to process illegal payments,
535
00:20:57,800 --> 00:20:59,319
even though they've
made overtures
536
00:20:59,320 --> 00:21:00,879
that they're stepping away
from this
537
00:21:00,880 --> 00:21:02,239
as their core business.
538
00:21:02,240 --> 00:21:03,679
I mean, in any case, it's primed
539
00:21:03,680 --> 00:21:06,079
for a mega correction
and re-rating.
540
00:21:06,080 --> 00:21:10,319
Analysts are recommending
25 Buys, 2 Sells.
541
00:21:10,320 --> 00:21:12,079
SWEETPEA:
Mm. Incentive and groupthink.
542
00:21:12,080 --> 00:21:14,479
The star fintech analyst
at MS, he's just upgraded,
543
00:21:14,480 --> 00:21:16,399
a couple of smaller places
followed.
544
00:21:16,400 --> 00:21:17,839
The market's reading
Muck's appointment
545
00:21:17,840 --> 00:21:19,639
as a positive catalyst,
not sure why.
546
00:21:19,640 --> 00:21:21,799
ERIC:
Even a basket case could win
547
00:21:21,800 --> 00:21:23,879
if enough influence
wanted it to.
548
00:21:23,880 --> 00:21:25,999
Yeah, well,
nobody wants to stand
549
00:21:26,000 --> 00:21:27,359
in front of a moving train.
550
00:21:27,360 --> 00:21:29,599
Nobody wants to get off it
when it's full of cash.
551
00:21:29,600 --> 00:21:30,720
(SWEETPEA CHUCKLES)
552
00:21:31,960 --> 00:21:33,919
- Thank you.
- My pleasure.
553
00:21:33,920 --> 00:21:35,879
HARPER: We would love you
to come on full time.
554
00:21:35,880 --> 00:21:37,320
- (CHUCKLES SOFTLY)
- (KNOCKING ON DOOR)
555
00:21:41,080 --> 00:21:42,959
Don't know if you can make
head or tail of it,
556
00:21:42,960 --> 00:21:45,040
- but it's what you asked for.
- Anywhere is fine.
557
00:21:45,600 --> 00:21:46,639
What the...
558
00:21:46,640 --> 00:21:48,600
Sorry, what the fuck
is he doing here?
559
00:21:50,720 --> 00:21:52,159
- (BOX THUDS)
- SWEETPEA: No, genuinely,
560
00:21:52,160 --> 00:21:53,679
stay the fuck away from me,
561
00:21:53,680 --> 00:21:55,399
- honestly.
- I am not staying.
562
00:21:55,400 --> 00:21:57,719
You're working
with this piece of shit?
563
00:21:57,720 --> 00:21:58,959
We're helping him out a little.
564
00:21:58,960 --> 00:22:00,920
You're... (SCOFFS) Um...
565
00:22:02,520 --> 00:22:05,919
This guy is
a fucking psychotic liar,
566
00:22:05,920 --> 00:22:08,439
a fucking
pathological degenerate.
567
00:22:08,440 --> 00:22:10,479
I have read
every horrible detail.
568
00:22:10,480 --> 00:22:11,639
ERIC: Sweetpea, relax.
569
00:22:11,640 --> 00:22:13,959
Don't tell me to fucking relax.
He's a fucking murderer.
570
00:22:13,960 --> 00:22:15,719
I'm not, okay?
I'm not a murderer.
571
00:22:15,720 --> 00:22:18,279
Please, just stay
the fuck away from me.
572
00:22:18,280 --> 00:22:19,400
I'm not a murderer!
573
00:22:22,440 --> 00:22:24,359
If you put me in a room
with this cunt again,
574
00:22:24,360 --> 00:22:26,359
you will never hear
from me again, okay?
575
00:22:26,360 --> 00:22:28,200
Yeah. Yeah.
576
00:22:30,360 --> 00:22:33,920
(RECEDING DEPARTING)
577
00:22:34,720 --> 00:22:35,800
(RISHI RAMDANI SIGHS)
578
00:22:36,360 --> 00:22:37,599
Looks good.
579
00:22:37,600 --> 00:22:41,120
♪ ("O DU MEIN ÖSTERREICH"
BY FRANZ VON SUPPÉ PLAYING) ♪
580
00:22:44,640 --> 00:22:46,080
- YASMIN: Hello.
- CASTLE HELP: Welcome.
581
00:22:46,600 --> 00:22:47,800
Please come with me.
582
00:22:50,920 --> 00:22:52,479
- (EXHALES)
- (CAR DOOR CLOSES)
583
00:22:52,480 --> 00:22:54,839
(FERDINAND SPEAKING GERMAN)
584
00:22:54,840 --> 00:22:56,280
HENRY:
Hope it's got a fucking loo.
585
00:23:01,920 --> 00:23:03,159
FERDINAND: Moritz.
586
00:23:03,160 --> 00:23:04,559
Ferdinand.
587
00:23:04,560 --> 00:23:05,599
♪ (MUSIC FADES) ♪
588
00:23:05,600 --> 00:23:06,599
(FERDINAND GREETS IN GERMAN)
589
00:23:06,600 --> 00:23:07,879
This is Tender's new CEO...
590
00:23:07,880 --> 00:23:08,879
- Hi.
- ...Henry Muck.
591
00:23:08,880 --> 00:23:11,159
Moritz-Hunter Bauer.
592
00:23:11,160 --> 00:23:13,719
I think we had mutual friends
at Winchester.
593
00:23:13,720 --> 00:23:16,999
I was unlucky enough
to spend five years at Harrow.
594
00:23:17,000 --> 00:23:20,079
I tell you,
for every genuine homosexual,
595
00:23:20,080 --> 00:23:22,199
nine are created
by British boarding schools.
596
00:23:22,200 --> 00:23:24,839
- (LAUGHS)
- FERDINAND: And his wife, Yasmin.
597
00:23:24,840 --> 00:23:27,599
I also do some comms consulting
for Henry's office.
598
00:23:27,600 --> 00:23:28,920
- Hi.
- MORITZ-HUNTER BAUER: A pleasure.
599
00:23:30,040 --> 00:23:32,240
My mother, Princess Johanna.
600
00:23:33,520 --> 00:23:34,520
Welcome.
601
00:23:35,760 --> 00:23:37,839
- Thank you.
- JOHANNA BAUER: It's a pleasure.
602
00:23:37,840 --> 00:23:41,279
Well, look, um, Moritz,
we're here to assure you
603
00:23:41,280 --> 00:23:43,479
that we will be
dutiful custodians
604
00:23:43,480 --> 00:23:44,519
of your family's bank...
605
00:23:44,520 --> 00:23:47,159
Part of the depredations
606
00:23:47,160 --> 00:23:49,639
of neoliberal late capitalism is
607
00:23:49,640 --> 00:23:52,319
there is no central authority
to appeal to.
608
00:23:52,320 --> 00:23:54,199
Just a patchwork
of economic zones
609
00:23:54,200 --> 00:23:56,599
to facilitate capital flight.
610
00:23:56,600 --> 00:23:59,159
We'll be subsumed,
unhappily, and say,
611
00:23:59,160 --> 00:24:03,399
"Ah, it's the free market.
This is supposed to happen."
612
00:24:03,400 --> 00:24:05,320
Well, Tender doesn't want you
to be unhappy.
613
00:24:06,680 --> 00:24:09,559
Happiness is a full stomach,
Mr. Halberstram.
614
00:24:09,560 --> 00:24:12,679
So let's save this conversation
for dinner, yeah?
615
00:24:12,680 --> 00:24:14,319
JOHANNA: What a splendid
idea of yours.
616
00:24:14,320 --> 00:24:16,359
Allow me to show you
to your rooms.
617
00:24:16,360 --> 00:24:18,679
- Please, after you.
- YASMIN: Oh, fantastic.
618
00:24:18,680 --> 00:24:20,479
- (DOOR OPENS)
- AUTOMATED VOICE: (OVER PHONE) Hello.
619
00:24:20,480 --> 00:24:22,799
- You've reached Tender.
- ♪ ("ORINOCO FLOW" BY ENYA PLAYING ON PHONE) ♪
620
00:24:22,800 --> 00:24:25,039
- (DOOR CLOSES)
- AUTOMATED VOICE: Your call is important to us.
621
00:24:25,040 --> 00:24:26,159
Please continue to hold
622
00:24:26,160 --> 00:24:27,519
while we find
the next available operator.
623
00:24:27,520 --> 00:24:29,479
- What are you looking for?
- AUTOMATED VOICE: Or press zero...
624
00:24:29,480 --> 00:24:31,119
HARPER:
Uh, I don't know, actually.
625
00:24:31,120 --> 00:24:34,999
Patterns in Tender's
payment transaction history,
626
00:24:35,000 --> 00:24:36,879
routed
through their EMEA acquisitions.
627
00:24:36,880 --> 00:24:39,079
Didn't you tell me
you had plans tonight?
628
00:24:39,080 --> 00:24:40,999
This shit ain't going anywhere.
629
00:24:41,000 --> 00:24:42,920
Yeah, I'm not sure
that I should.
630
00:24:43,920 --> 00:24:46,600
You're not sure you should?
Is it a dude?
631
00:24:47,440 --> 00:24:50,359
Go. Operation Normal Girl.
632
00:24:50,360 --> 00:24:51,999
Go!
633
00:24:52,000 --> 00:24:54,399
HARPER: I've tried calling four
of the payment processors
634
00:24:54,400 --> 00:24:55,959
they acquired in Africa.
635
00:24:55,960 --> 00:24:58,279
Every time I was put
on this eternal fucking hold
636
00:24:58,280 --> 00:25:00,159
through Tender's
Dublin call center.
637
00:25:00,160 --> 00:25:01,799
AUTOMATED VOICE:
Hello. You've reached Tender.
638
00:25:01,800 --> 00:25:03,799
- Your call is important to us.
- HARPER: Ugh, this endless
639
00:25:03,800 --> 00:25:06,359
- fucking Muzak. Shut up.
- AUTOMATED VOICE: Please continue...
640
00:25:06,360 --> 00:25:09,039
- (ERIC LAUGHS)
- (BREATHES DEEPLY)
641
00:25:09,040 --> 00:25:11,640
I genuinely feel like I'm losing
my grip on reality.
642
00:25:13,000 --> 00:25:14,040
Pierre called.
643
00:25:14,800 --> 00:25:17,679
Good news is he thinks Tender,
644
00:25:17,680 --> 00:25:19,880
at the very least, feels toppy.
645
00:25:21,160 --> 00:25:23,639
Bad news is he wants...
646
00:25:23,640 --> 00:25:26,399
quite specific terms
and structure.
647
00:25:26,400 --> 00:25:28,039
How aggressive?
648
00:25:28,040 --> 00:25:30,000
ERIC: He wants
a first-loss arrangement.
649
00:25:31,040 --> 00:25:33,399
Pierre acts as guarantor.
650
00:25:33,400 --> 00:25:35,399
I put up ten million dollars.
651
00:25:35,400 --> 00:25:37,119
He puts up 90.
652
00:25:37,120 --> 00:25:40,039
But the first ten million
the fund loses
653
00:25:40,040 --> 00:25:42,679
is my ten million.
654
00:25:42,680 --> 00:25:46,520
Depending on how
our main position performed,
655
00:25:47,760 --> 00:25:51,120
I might have
to liquidate my family office...
656
00:25:52,880 --> 00:25:54,959
my girls' inheritance.
657
00:25:54,960 --> 00:25:57,400
HARPER: I would literally
never ask you to do that.
658
00:25:58,520 --> 00:26:00,799
Don't really see
where that leaves the health
659
00:26:00,800 --> 00:26:03,839
of our little venture here, then.
660
00:26:03,840 --> 00:26:05,959
Unless we find our short,
raise capital
661
00:26:05,960 --> 00:26:06,999
and put a team together,
662
00:26:07,000 --> 00:26:09,599
we're gonna be stalled
on the launch pad.
663
00:26:09,600 --> 00:26:11,999
We don't even have a trader,
for fuck's sake.
664
00:26:12,000 --> 00:26:14,039
Maybe get the fuck outta here
for a bit.
665
00:26:14,040 --> 00:26:16,159
HARPER: I want to work.
666
00:26:16,160 --> 00:26:19,719
ERIC: Hey, I've lived a life
where everything is work.
667
00:26:19,720 --> 00:26:21,719
I've lived a life
where everything is leisure.
668
00:26:21,720 --> 00:26:23,479
I'm telling you,
669
00:26:23,480 --> 00:26:25,400
for a few hours
on a Tuesday evening,
670
00:26:26,000 --> 00:26:27,759
there's a middle ground.
671
00:26:27,760 --> 00:26:29,520
This is all gonna be here
when you get back.
672
00:26:39,680 --> 00:26:41,520
- (KNOCKING ON DOOR)
- (DOOR OPENS)
673
00:26:42,720 --> 00:26:44,560
I just came to settle you in.
674
00:26:46,200 --> 00:26:47,759
I hope you feel comfortable.
675
00:26:47,760 --> 00:26:49,199
I put you in my favorite room.
676
00:26:49,200 --> 00:26:50,239
Oh!
677
00:26:50,240 --> 00:26:52,400
It's full of our habseligkeiten.
678
00:26:53,360 --> 00:26:54,560
Do you know this word?
679
00:26:55,720 --> 00:26:58,319
(IN GERMAN)
680
00:26:58,320 --> 00:26:59,960
(BOTH CHUCKLE)
681
00:27:02,560 --> 00:27:04,039
(CHUCKLES SOFTLY)
682
00:27:04,040 --> 00:27:06,039
(IN ENGLISH) Well, you know,
literally translated,
683
00:27:06,040 --> 00:27:09,120
it means "possessions
closest to your soul."
684
00:27:10,840 --> 00:27:12,480
- That's beautiful.
- JOHANNA: Hmm.
685
00:27:13,680 --> 00:27:15,519
(IN GERMAN)
686
00:27:15,520 --> 00:27:16,879
(CHUCKLES)
687
00:27:16,880 --> 00:27:18,079
JOHANNA: (IN ENGLISH) Well,
688
00:27:18,080 --> 00:27:20,520
if you need anything,
just let me know.
689
00:27:21,560 --> 00:27:23,039
- Danke schoen.
- JOHANNA: Gern.
690
00:27:23,040 --> 00:27:24,079
(CHUCKLES)
691
00:27:24,080 --> 00:27:26,600
(DOOR OPENS, CLOSES)
692
00:27:29,200 --> 00:27:30,679
I... I admire the UK system.
693
00:27:30,680 --> 00:27:32,439
The pendulum swings, of course,
694
00:27:32,440 --> 00:27:34,999
but at least you don't
muzzle insurgents.
695
00:27:35,000 --> 00:27:36,119
Well, your mother tells me
696
00:27:36,120 --> 00:27:38,399
that you were
a bit of a historian.
697
00:27:38,400 --> 00:27:40,639
Most of our political quagmire
can be answered
698
00:27:40,640 --> 00:27:42,599
- by the early modern period.
- YASMIN: Hmm.
699
00:27:42,600 --> 00:27:45,599
That's why my political hero
is... (IN FRENCH) ...Louis XIV.
700
00:27:45,600 --> 00:27:47,480
(IN ENGLISH) All answers lie
with the Sun King.
701
00:27:48,320 --> 00:27:50,799
I'm sorry. I, uh...
702
00:27:50,800 --> 00:27:52,679
I don't think I've ever
heard anyone say that.
703
00:27:52,680 --> 00:27:55,359
- (BOTH CHUCKLE)
- (YASMIN LAUGHS)
704
00:27:55,360 --> 00:27:59,040
Eh, anyone with eyes can see
Western liberalism has failed.
705
00:28:00,480 --> 00:28:02,479
Decades of political gridlock,
706
00:28:02,480 --> 00:28:05,359
partisan divisions accelerated
by social media,
707
00:28:05,360 --> 00:28:09,799
a short-term policy driven
by a need to win elections.
708
00:28:09,800 --> 00:28:12,519
The most successful central government
in the world today
709
00:28:12,520 --> 00:28:14,239
functions
as an absolute monarchy,
710
00:28:14,240 --> 00:28:17,279
and for that,
calls itself communism.
711
00:28:17,280 --> 00:28:18,399
Okay, Moritz.
712
00:28:18,400 --> 00:28:21,239
This isn't very riveting
dinner conversation.
713
00:28:21,240 --> 00:28:22,959
YASMIN:
Oh, Johanna, please sit down.
714
00:28:22,960 --> 00:28:25,079
We can't have you wait on us.
715
00:28:25,080 --> 00:28:27,360
Oh, please.
It's an absolute privilege.
716
00:28:28,800 --> 00:28:30,680
Oh, um, I read your Substack.
717
00:28:31,720 --> 00:28:33,079
- MORITZ: I'm flattered.
- Yeah.
718
00:28:33,080 --> 00:28:34,319
Uh, fragmentation
719
00:28:34,320 --> 00:28:36,519
and the acceleration
of atomization,
720
00:28:36,520 --> 00:28:38,359
it is killing us as a species.
721
00:28:38,360 --> 00:28:41,279
Take any successful corporation
in America.
722
00:28:41,280 --> 00:28:43,199
They're not
a collectivist enterprise,
723
00:28:43,200 --> 00:28:45,039
they're dictatorships.
724
00:28:45,040 --> 00:28:47,799
Then why do Foxconn
and many industrial parks need
725
00:28:47,800 --> 00:28:49,079
worker-suicide nets?
726
00:28:49,080 --> 00:28:51,280
All I'm saying is
that they are not democracies.
727
00:28:53,280 --> 00:28:54,280
FERDINAND: Sad...
728
00:28:55,640 --> 00:28:58,279
that we must always wash up
on the reef of politics.
729
00:28:58,280 --> 00:29:00,119
JOHANNA:
Oh, I couldn't agree more.
730
00:29:00,120 --> 00:29:02,319
- So, bon appétit.
- (UTENSILS CLINKING)
731
00:29:02,320 --> 00:29:04,479
- YASMIN: Thank you.
- (HENRY CLEARS THROAT)
732
00:29:04,480 --> 00:29:06,959
MORITZ: Although, for me,
733
00:29:06,960 --> 00:29:11,039
my, uh, politics
and my business,
734
00:29:11,040 --> 00:29:13,280
to the extent
to which it still is mine,
735
00:29:14,000 --> 00:29:16,119
are one and the same.
736
00:29:16,120 --> 00:29:20,279
What some see
as protectionism, isolationism,
737
00:29:20,280 --> 00:29:22,480
I see as respect for tradition.
738
00:29:25,040 --> 00:29:27,960
IBN Bauer is
a 300-year-old institution.
739
00:29:29,120 --> 00:29:32,559
I'm concerned
this merger represents
740
00:29:32,560 --> 00:29:35,719
a threat
to our customers' privacy.
741
00:29:35,720 --> 00:29:38,639
I do know how fast and loose
modern fintech companies play
742
00:29:38,640 --> 00:29:39,800
with their customers' data.
743
00:29:41,440 --> 00:29:43,120
HENRY: Moritz, um...
744
00:29:46,160 --> 00:29:50,120
this merger, it represents
growth for both parties.
745
00:29:51,680 --> 00:29:53,959
We respect the past, um,
746
00:29:53,960 --> 00:29:57,679
but we will drag IBN Bauer
into the future.
747
00:29:57,680 --> 00:30:02,239
(CLOCK TICKING)
748
00:30:02,240 --> 00:30:03,799
I'm speaking
to Julian Wullschläger
749
00:30:03,800 --> 00:30:05,279
and others on the board
to ensure
750
00:30:05,280 --> 00:30:08,039
that this merger receives
the full scrutiny it deserves,
751
00:30:08,040 --> 00:30:11,079
even if that means re-engaging
the Austrian regulator
752
00:30:11,080 --> 00:30:12,360
around data protection.
753
00:30:13,160 --> 00:30:14,839
Train's left the station.
754
00:30:14,840 --> 00:30:16,879
You thought because I am
a small individual voice,
755
00:30:16,880 --> 00:30:19,039
the weight of your capital
would bury me?
756
00:30:19,040 --> 00:30:20,159
You voted for this,
757
00:30:20,160 --> 00:30:21,840
and you'll be compensated
incredibly well.
758
00:30:22,520 --> 00:30:24,439
Ah, it's always money,
759
00:30:24,440 --> 00:30:26,439
(STERNLY) ...Mr. HalberSchtram?
760
00:30:26,440 --> 00:30:28,160
JOHANNA:
Moritz, it's enough said.
761
00:30:28,680 --> 00:30:30,399
(SPEAKING GERMAN)
762
00:30:30,400 --> 00:30:33,679
- I never mean to embarrass you.
- I know, Schatz.
763
00:30:33,680 --> 00:30:36,119
We just have to be practical
and just humor him.
764
00:30:36,120 --> 00:30:37,279
There's practicality,
765
00:30:37,280 --> 00:30:39,759
and then there's acquiescing
to some tinpot tyrant.
766
00:30:39,760 --> 00:30:41,639
Fine, he's a bit
of an intellectual pseud.
767
00:30:41,640 --> 00:30:43,759
No, no, no,
he's a fucking fascist.
768
00:30:43,760 --> 00:30:44,919
We're his guests! You want
769
00:30:44,920 --> 00:30:46,759
to fucking call him out
in front of his mum?
770
00:30:46,760 --> 00:30:49,439
What about that thinly-veiled
anti-Semitism, hmm?
771
00:30:49,440 --> 00:30:50,879
That's not what that was,
come on.
772
00:30:50,880 --> 00:30:52,999
- Whitney.
- For someone whose last name is Hanani,
773
00:30:53,000 --> 00:30:54,079
you seem pretty relaxed.
774
00:30:54,080 --> 00:30:55,959
We need to fly out
as early as possible.
775
00:30:55,960 --> 00:30:57,359
But this is now a live issue.
776
00:30:57,360 --> 00:30:58,759
I don't think
it's a very bright idea
777
00:30:58,760 --> 00:31:00,599
to just abandon the problem
and hope for the best.
778
00:31:00,600 --> 00:31:02,519
HENRY: Yeah, but we can't
no-show with the regulator.
779
00:31:02,520 --> 00:31:04,439
We have to fly out first thing.
780
00:31:04,440 --> 00:31:05,799
Okay, I'm staying. I insist.
781
00:31:05,800 --> 00:31:07,159
(JOHANNA AND MORITZ
ARGUING IN GERMAN)
782
00:31:07,160 --> 00:31:09,119
You're lucky
your wife is such a pragmatist.
783
00:31:09,120 --> 00:31:10,519
(YASMIN CHUCKLES SOFTLY)
784
00:31:10,520 --> 00:31:13,919
♪ ("SUKIYAKI"
BY KYU SAKAMOTO PLAYING) ♪
785
00:31:13,920 --> 00:31:15,919
(INDISTINCT CHATTER)
786
00:31:15,920 --> 00:31:17,560
(GLASSES CLINKING)
787
00:31:20,280 --> 00:31:24,359
(CHATTER CONTINUES)
788
00:31:24,360 --> 00:31:26,359
KWABENA BANNERMAN: Hey. Sorry,
sorry, sorry, sorry, sorry.
789
00:31:26,360 --> 00:31:28,559
HARPER: I've been sitting here
for 15 fucking minutes.
790
00:31:28,560 --> 00:31:30,079
KWABENA: Bro. Fuck.
791
00:31:30,080 --> 00:31:33,319
Whole civilizations have risen
and fallen in 15 minutes.
792
00:31:33,320 --> 00:31:36,239
(CHATTER CONTINUES)
793
00:31:36,240 --> 00:31:37,359
Hey, hey!
794
00:31:37,360 --> 00:31:38,999
I was joking. What the fuck?
795
00:31:39,000 --> 00:31:40,679
I'm trying to build a business.
796
00:31:40,680 --> 00:31:42,599
I don't have 15 minutes.
797
00:31:42,600 --> 00:31:44,199
So for the two I plan
to stand right here,
798
00:31:44,200 --> 00:31:46,400
I might as well tell you
that I fucked somebody else.
799
00:31:47,720 --> 00:31:48,920
Okay.
800
00:31:51,080 --> 00:31:53,479
Okay, you don't care?
801
00:31:53,480 --> 00:31:55,559
KWABENA:
What, in the last 15 minutes?
802
00:31:55,560 --> 00:31:58,360
(CHUCKLING) Remind me
never to be late again.
803
00:32:00,520 --> 00:32:02,200
Were you gonna say that
before I was late?
804
00:32:04,400 --> 00:32:06,199
Is it even true?
805
00:32:06,200 --> 00:32:07,840
Are you not sleeping
with other people?
806
00:32:08,640 --> 00:32:09,640
No.
807
00:32:11,360 --> 00:32:12,640
Not as far as I'm aware.
808
00:32:16,280 --> 00:32:17,399
Okay.
809
00:32:17,400 --> 00:32:19,240
Do you want
to put a pin in this, then?
810
00:32:20,560 --> 00:32:22,320
I just thought
we were hanging out.
811
00:32:25,480 --> 00:32:26,640
But you like me?
812
00:32:28,000 --> 00:32:29,720
You make it pretty fucking hard.
813
00:32:30,800 --> 00:32:33,600
But yeah, if you'll let me.
814
00:32:34,560 --> 00:32:35,600
(HESITATES)
815
00:32:36,560 --> 00:32:38,359
You're a tiny bit
too punctual, though.
816
00:32:38,360 --> 00:32:39,960
It's my... It's my only note.
817
00:32:42,240 --> 00:32:43,400
Be on time.
818
00:32:45,000 --> 00:32:47,159
I have a job
that I left to be with you.
819
00:32:47,160 --> 00:32:48,839
KWABENA:
Yeah, so leave it there.
820
00:32:48,840 --> 00:32:51,679
God, we both came here
for biodynamic sake
821
00:32:51,680 --> 00:32:53,560
and maybe some mutual fellatio.
822
00:32:54,560 --> 00:32:56,839
Try separating church
and state sometimes.
823
00:32:56,840 --> 00:32:58,119
It's easy.
824
00:32:58,120 --> 00:32:59,199
Yeah, fuck this.
825
00:32:59,200 --> 00:33:01,199
I actually came
to offer you a job. (SCOFFS)
826
00:33:01,200 --> 00:33:02,359
KWABENA: Really?
827
00:33:02,360 --> 00:33:04,239
Maybe this relationship is
done better over email.
828
00:33:04,240 --> 00:33:05,319
Harper.
829
00:33:05,320 --> 00:33:07,119
(RAISES VOICE) What's prompted
this enormous sense
830
00:33:07,120 --> 00:33:08,319
of humor failure?
831
00:33:08,320 --> 00:33:09,560
Harper?
832
00:33:11,240 --> 00:33:12,719
- ♪ (MUSIC STOPS) ♪
- (DOOR SLAMS SHUT)
833
00:33:12,720 --> 00:33:13,760
How was it?
834
00:33:15,560 --> 00:33:18,439
- I hope that means good.
- (OBJECTS CLATTERING)
835
00:33:18,440 --> 00:33:20,879
ERIC: You mind me being
this casually dressed?
836
00:33:20,880 --> 00:33:22,520
Don't be so fucking weird.
837
00:33:23,080 --> 00:33:24,639
Hard-coded, I'm afraid.
838
00:33:24,640 --> 00:33:26,080
You good on presents?
839
00:33:27,080 --> 00:33:29,399
What are 14-year-old girls into?
840
00:33:29,400 --> 00:33:30,919
How the fuck should I know?
841
00:33:30,920 --> 00:33:32,439
You should know
what your daughters like
842
00:33:32,440 --> 00:33:33,440
and dislike.
843
00:33:36,560 --> 00:33:38,760
I followed up with the rest
of the family offices.
844
00:33:39,560 --> 00:33:41,199
In truth, I... I had to chase.
845
00:33:41,200 --> 00:33:42,879
A few eyes were on stalks
846
00:33:42,880 --> 00:33:45,519
at you suggesting
Tender was anything
847
00:33:45,520 --> 00:33:47,159
but a blue-chip safe haven.
848
00:33:47,160 --> 00:33:49,159
I dropped Tender
to be spiky and controversial
849
00:33:49,160 --> 00:33:51,199
in a meeting that I thought
was headed south.
850
00:33:51,200 --> 00:33:53,559
It's gonna take labor and sweat,
851
00:33:53,560 --> 00:33:56,240
and turning stones,
and fucking time.
852
00:33:58,120 --> 00:33:59,559
ERIC: I have plenty of time.
853
00:33:59,560 --> 00:34:00,999
If that's all you've got
to offer me,
854
00:34:01,000 --> 00:34:02,679
I think we should reevaluate
what's going on here.
855
00:34:02,680 --> 00:34:05,279
Why are you being so sharp
with me?
856
00:34:05,280 --> 00:34:08,959
Because this is not some
recreational fucking... game
857
00:34:08,960 --> 00:34:11,039
or some lame extension
of your retirement,
858
00:34:11,040 --> 00:34:14,239
while you're floating around
trying to rehab your life,
859
00:34:14,240 --> 00:34:16,559
or, I don't know,
cosplaying the roles
860
00:34:16,560 --> 00:34:18,679
that you have
spent your life ignoring.
861
00:34:18,680 --> 00:34:20,359
When the fuck did I ever say
862
00:34:20,360 --> 00:34:22,280
I wanted it to be recreational?
863
00:34:23,320 --> 00:34:25,759
If you don't want my daughter
in our workspace...
864
00:34:25,760 --> 00:34:27,200
When the fuck did I say that?
865
00:34:28,880 --> 00:34:30,399
ERIC: You seem
a little triggered is all.
866
00:34:30,400 --> 00:34:32,679
Tri... Sorry, triggered?
867
00:34:32,680 --> 00:34:35,759
Who the fuck uses
that word seriously?
868
00:34:35,760 --> 00:34:37,519
Are you kidding me?
869
00:34:37,520 --> 00:34:38,919
Shit that people fucking say,
870
00:34:38,920 --> 00:34:40,919
"Oh, my trauma
made me stronger."
871
00:34:40,920 --> 00:34:42,519
No, no!
872
00:34:42,520 --> 00:34:45,279
My trauma traumatized me.
873
00:34:45,280 --> 00:34:47,239
And it made me fucking weak.
874
00:34:47,240 --> 00:34:48,759
And I have had to deal
with consequences
875
00:34:48,760 --> 00:34:50,360
that were not my fault.
876
00:34:51,240 --> 00:34:53,079
And it has nothing to do
877
00:34:53,080 --> 00:34:55,160
with what I am doing right now!
878
00:34:56,440 --> 00:34:57,960
Do you know why I do this?
879
00:34:58,640 --> 00:35:00,279
Because I enjoy it,
880
00:35:00,280 --> 00:35:02,320
and I'm fucking good at it!
881
00:35:03,640 --> 00:35:06,199
It starts and ends with work
882
00:35:06,200 --> 00:35:08,320
and being proven fucking right.
883
00:35:10,520 --> 00:35:11,600
(SIGHS HEAVILY)
884
00:35:13,360 --> 00:35:14,760
(ASHTRAY CLINKING SOFTLY)
885
00:35:17,960 --> 00:35:19,600
This is life or death for me.
886
00:35:22,160 --> 00:35:23,759
You used to act like it too.
887
00:35:23,760 --> 00:35:24,920
(ASHTRAY CLINKING SOFTLY)
888
00:35:27,480 --> 00:35:29,040
Sounds like you're
a little triggered.
889
00:35:32,280 --> 00:35:33,280
Okay.
890
00:35:34,480 --> 00:35:35,880
I can act like it.
891
00:35:36,640 --> 00:35:37,720
And you...
892
00:35:39,360 --> 00:35:42,559
you come to meetings
I spend days wrangling
893
00:35:42,560 --> 00:35:44,800
with ideas
that aren't half-baked.
894
00:35:51,560 --> 00:35:52,639
(HARPER SIGHS)
895
00:35:52,640 --> 00:35:54,440
(SIREN WAILING IN DISTANCE)
896
00:35:55,080 --> 00:35:56,200
Do you know I'm a twin?
897
00:35:57,920 --> 00:36:00,880
No, because you've never
mentioned it.
898
00:36:05,840 --> 00:36:08,039
Uh, I did a cursory Google.
899
00:36:08,040 --> 00:36:10,559
A good percentage
of the addresses
900
00:36:10,560 --> 00:36:12,959
and contact numbers
of these acquisitions are listed
901
00:36:12,960 --> 00:36:15,079
to the same place.
902
00:36:15,080 --> 00:36:17,160
- Guess.
- I'm too tired.
903
00:36:17,720 --> 00:36:19,760
The Dublin call center.
904
00:36:20,840 --> 00:36:22,039
HARPER: An impasse then?
905
00:36:22,040 --> 00:36:23,479
ERIC: I thought so too.
906
00:36:23,480 --> 00:36:26,559
Plus, I'm not sure
it's altogether incriminating,
907
00:36:26,560 --> 00:36:28,439
but I did notice something
in the documents.
908
00:36:28,440 --> 00:36:30,839
- It's printed small...
- ♪ (INTRIGUING MUSIC PLAYING) ♪
909
00:36:30,840 --> 00:36:33,759
...but on every hundredth
or so page,
910
00:36:33,760 --> 00:36:36,639
there's a "care of" address.
See?
911
00:36:36,640 --> 00:36:38,839
Google Street View,
it looks like...
912
00:36:38,840 --> 00:36:40,319
well, it doesn't look like much.
913
00:36:40,320 --> 00:36:43,239
I... I sorta want to use
the term... "shithole."
914
00:36:43,240 --> 00:36:44,320
HARPER: Show me.
915
00:36:47,000 --> 00:36:48,799
ERIC:
That can't be right, right?
916
00:36:48,800 --> 00:36:50,359
Does it look
like a satellite office
917
00:36:50,360 --> 00:36:53,359
of an enterprise
with a nine billion market cap?
918
00:36:53,360 --> 00:36:56,359
Who, what,
or where is Sunderland?
919
00:36:56,360 --> 00:36:57,480
Sounds cold.
920
00:37:06,080 --> 00:37:07,919
- SWEETPEA: (OVER PHONE) Hello?
- HARPER: Hey, Sweetpea.
921
00:37:07,920 --> 00:37:09,839
Um, I'm really, really sorry
about today.
922
00:37:09,840 --> 00:37:11,359
- SWEETPEA: No shit.
- And I know that you said
923
00:37:11,360 --> 00:37:13,800
that you were going
to take a beat, but, um...
924
00:37:14,720 --> 00:37:16,479
swing time for a field trip?
925
00:37:16,480 --> 00:37:18,679
I think this may
satisfy your curiosity,
926
00:37:18,680 --> 00:37:20,879
and I need your expertise.
927
00:37:20,880 --> 00:37:21,999
(KNOCKING ON DOOR)
928
00:37:22,000 --> 00:37:23,719
♪ (MUSIC FADES) ♪
929
00:37:23,720 --> 00:37:25,280
(ANIMALS HOWLING IN DISTANCE)
930
00:37:26,800 --> 00:37:28,040
Hi, um...
931
00:37:28,880 --> 00:37:30,999
Whitney wanted me to share
932
00:37:31,000 --> 00:37:33,599
three different versions
of prospective rebuttals
933
00:37:33,600 --> 00:37:35,519
to the FinDigest article.
934
00:37:35,520 --> 00:37:37,679
(CHUCKLES)
You could have emailed them.
935
00:37:37,680 --> 00:37:39,119
- (CHUCKLES)
- HAYLEY: Yeah.
936
00:37:39,120 --> 00:37:41,159
Right. (CHUCKLES) Sorry.
937
00:37:41,160 --> 00:37:43,119
Sorry, I didn't, um...
938
00:37:43,120 --> 00:37:45,520
YASMIN: Can I smell martinis
on your breath?
939
00:37:47,040 --> 00:37:49,839
Raya must see a pretty
lean scene in Vienna.
940
00:37:49,840 --> 00:37:52,079
- (BOTH CHUCKLE)
- (DOOR OPENS, CLOSES)
941
00:37:52,080 --> 00:37:53,639
- Hi, Hayley.
- HAYLEY: Hi.
942
00:37:53,640 --> 00:37:55,919
- HENRY: Sorry.
- It's okay.
943
00:37:55,920 --> 00:37:58,999
Calabasas here just tried
and failed to get laid.
944
00:37:59,000 --> 00:38:00,559
(LAUGHS)
945
00:38:00,560 --> 00:38:03,039
Well, Yasmin, I'm sure
she doesn't want us speculating
946
00:38:03,040 --> 00:38:05,079
about her youthful
misadventures.
947
00:38:05,080 --> 00:38:06,400
Well, I'm not speculating.
948
00:38:08,240 --> 00:38:10,279
Tell him. (CHUCKLES)
949
00:38:10,280 --> 00:38:11,359
HAYLEY: She's right.
950
00:38:11,360 --> 00:38:14,719
But more like,
he tried and failed. (CHUCKLES)
951
00:38:14,720 --> 00:38:16,280
(CHUCKLES) Classic.
952
00:38:17,600 --> 00:38:18,640
Well, I mean...
953
00:38:20,080 --> 00:38:21,480
you're too good for most.
954
00:38:24,920 --> 00:38:26,680
She's very frustrated.
955
00:38:29,600 --> 00:38:31,479
Aren't you, Hayley?
956
00:38:31,480 --> 00:38:33,520
I don't...
I don't know if I'd say that.
957
00:38:35,200 --> 00:38:36,440
A little.
958
00:38:38,160 --> 00:38:39,400
Sure.
959
00:38:40,320 --> 00:38:41,639
Yas, what the fuck
are you doing?
960
00:38:41,640 --> 00:38:42,640
Hayley...
961
00:38:46,160 --> 00:38:48,679
- Come here.
- HENRY: (WHISPERING) Yas, Yas, you're all I need.
962
00:38:48,680 --> 00:38:49,880
YASMIN: Do you, um...
963
00:38:51,840 --> 00:38:53,160
Do you like him?
964
00:38:54,760 --> 00:38:55,880
Do you...
965
00:38:57,880 --> 00:39:00,079
- ...like this?
- (HENRY MOANS DEEPLY)
966
00:39:00,080 --> 00:39:01,800
♪ ("BASSICALLY"
BY TEI SHI PLAYING) ♪
967
00:39:02,520 --> 00:39:03,840
(HENRY SIGHS HEAVILY)
968
00:39:04,480 --> 00:39:05,720
Do you want to kiss him?
969
00:39:08,200 --> 00:39:09,640
I want this for you.
970
00:39:18,080 --> 00:39:20,479
- Um...
- ♪ Baby, I'll behave... ♪
971
00:39:20,480 --> 00:39:22,559
Do you... (HESITATES)
Do you want this?
972
00:39:22,560 --> 00:39:23,799
Mm-hmm.
973
00:39:23,800 --> 00:39:26,320
♪ If you let me stay ♪
974
00:39:28,440 --> 00:39:31,320
♪ Please don't think ♪
975
00:39:32,640 --> 00:39:36,879
♪ That I'm begging you
For love ♪
976
00:39:36,880 --> 00:39:40,600
♪ Baby, let me stay ♪
977
00:39:41,720 --> 00:39:45,280
♪ When the world is gone ♪
978
00:39:46,480 --> 00:39:50,520
♪ Promise I'll behave ♪
979
00:39:51,360 --> 00:39:54,999
♪ Never right your wrongs ♪
980
00:39:55,000 --> 00:39:56,279
(BREATHES HEAVILY)
981
00:39:56,280 --> 00:40:00,999
- ♪ Is that what you want? ♪
- ♪ Is that what you want? ♪
982
00:40:01,000 --> 00:40:03,960
♪ Like the other boys ♪
983
00:40:05,680 --> 00:40:10,559
♪ Someone you can flaunt ♪
984
00:40:10,560 --> 00:40:12,679
♪ Like the other toys ♪
985
00:40:12,680 --> 00:40:13,920
Good. (EXHALES)
986
00:40:15,400 --> 00:40:16,600
Now spit on it.
987
00:40:18,640 --> 00:40:20,199
(HAYLEY HAWKS SPIT, SPUTTERS)
988
00:40:20,200 --> 00:40:21,679
(EXHALES)
989
00:40:21,680 --> 00:40:24,360
(MOANS DEEPLY, SIGHS)
990
00:40:26,640 --> 00:40:30,160
(HENRY BREATHING HEAVILY)
991
00:40:36,880 --> 00:40:38,080
(HAYLEY GASPING)
992
00:40:44,520 --> 00:40:47,360
- ♪ (MUSIC STOPS ABRUPTLY) ♪
- (HENRY, HAYLEY GRUNTING)
993
00:40:49,520 --> 00:40:51,199
(HENRY GASPS, WHIMPERS)
994
00:40:51,200 --> 00:40:52,519
YASMIN: Calabasas, look at me.
995
00:40:52,520 --> 00:40:55,800
- (HAYLEY GASPING)
- (HENRY PANTING)
996
00:40:56,400 --> 00:40:57,439
(HENRY PANTING)
997
00:40:57,440 --> 00:40:58,999
♪ (SOFT INTRIGUING
MUSIC PLAYING) ♪
998
00:40:59,000 --> 00:41:00,440
YASMIN: Get off her, Henry.
999
00:41:00,920 --> 00:41:02,799
(FLUIDS SQUELCHING)
1000
00:41:02,800 --> 00:41:05,439
- (HAYLEY PANTING)
- (BED CREAKING)
1001
00:41:05,440 --> 00:41:06,719
Now turn around on the bed,
1002
00:41:06,720 --> 00:41:08,679
open your legs
and show me your cunt.
1003
00:41:08,680 --> 00:41:09,920
(EXHALES)
1004
00:41:13,000 --> 00:41:16,280
- (PANTING)
- (BED CREAKING)
1005
00:41:17,120 --> 00:41:18,480
(EXHALES HEAVILY)
1006
00:41:29,120 --> 00:41:32,120
Now I believe you have something
that belongs to my husband.
1007
00:41:37,320 --> 00:41:38,720
And therefore, to me.
1008
00:41:42,440 --> 00:41:44,439
(SLURPING)
1009
00:41:44,440 --> 00:41:46,040
(BIRDS CHIRPING)
1010
00:41:48,800 --> 00:41:49,840
(GULPS)
1011
00:41:51,120 --> 00:41:52,279
(BURPS)
1012
00:41:52,280 --> 00:41:54,039
JOHANNA: Well, it seems
the men have been scattered
1013
00:41:54,040 --> 00:41:55,279
by the wind.
1014
00:41:55,280 --> 00:41:57,599
They've abandoned you with me.
1015
00:41:57,600 --> 00:41:59,360
Help me take the dogs out.
1016
00:42:01,480 --> 00:42:03,359
Moritz's name on the bank
is no more
1017
00:42:03,360 --> 00:42:04,959
than an honorific, really.
1018
00:42:04,960 --> 00:42:06,279
And he knows
1019
00:42:06,280 --> 00:42:07,919
that the Tender deal is
a good deal.
1020
00:42:07,920 --> 00:42:09,440
He just craves attention.
1021
00:42:10,000 --> 00:42:11,599
YASMIN: How so?
1022
00:42:11,600 --> 00:42:13,919
Well, he simply
doesn't want to be defined
1023
00:42:13,920 --> 00:42:15,119
by his family name only.
1024
00:42:15,120 --> 00:42:17,639
- (BIRDS CHIRPING)
- (DOG BARKING)
1025
00:42:17,640 --> 00:42:19,559
W... Well, I mean,
1026
00:42:19,560 --> 00:42:21,960
I could speak to one
of Alexander's editors.
1027
00:42:23,120 --> 00:42:25,519
Yeah, even if it's
a one-off column,
1028
00:42:25,520 --> 00:42:26,679
it will make Moritz feel
1029
00:42:26,680 --> 00:42:29,519
like the world's actually
listening to him for once.
1030
00:42:29,520 --> 00:42:32,119
- This is such a wonderful idea.
- (CHUCKLES)
1031
00:42:32,120 --> 00:42:34,759
You know, I think
seeing his thinking valorized
1032
00:42:34,760 --> 00:42:36,039
by Norton masthead,
1033
00:42:36,040 --> 00:42:37,799
I think this would
give him meaning.
1034
00:42:37,800 --> 00:42:38,999
- Mm-hmm.
- You know, even if it's just
1035
00:42:39,000 --> 00:42:40,799
for an instant, to see his name,
1036
00:42:40,800 --> 00:42:43,359
his view printed,
black and white.
1037
00:42:43,360 --> 00:42:46,639
Yeah, I mean,
legacy media still has weight.
1038
00:42:46,640 --> 00:42:48,759
Yes, the weight of history.
1039
00:42:48,760 --> 00:42:51,119
Yeah, he has a way
for not couching his views
1040
00:42:51,120 --> 00:42:52,479
for polite company.
1041
00:42:52,480 --> 00:42:55,479
But the general direction
of travel
1042
00:42:55,480 --> 00:42:58,440
of his thinking is
undergirded by common sense,
1043
00:42:59,200 --> 00:43:00,280
wouldn't you say?
1044
00:43:02,520 --> 00:43:03,640
He... (BURPS) Oh.
1045
00:43:04,360 --> 00:43:05,400
Sorry. (CHUCKLES)
1046
00:43:06,040 --> 00:43:07,040
Yeah.
1047
00:43:07,880 --> 00:43:09,799
Yeah. I would.
1048
00:43:09,800 --> 00:43:11,999
♪ ("HORST-WESSEL-LIED"
BY MILVA PLAYING) ♪
1049
00:43:12,000 --> 00:43:13,319
- (WHISTLES)
- (DOG BARKS)
1050
00:43:13,320 --> 00:43:16,400
- (JOHANNA WHISTLING)
- (DOG BARKING)
1051
00:43:18,000 --> 00:43:24,680
♪ ("HORST-WESSEL-LIED"
CONTINUES PLAYING) ♪
1052
00:43:26,080 --> 00:43:32,520
♪ (VOCALIST SINGING
IN ITALIAN) ♪
1053
00:43:34,360 --> 00:43:39,800
♪ (SINGING IN ITALIAN
CONTINUES) ♪
1054
00:43:42,240 --> 00:43:50,240
♪ (SINGING IN ITALIAN
CONTINUES) ♪
1055
00:43:56,960 --> 00:44:02,880
♪ (SINGING IN ITALIAN
CONTINUES) ♪
1056
00:44:04,600 --> 00:44:11,600
♪ (SINGING IN ITALIAN
CONTINUES) ♪
1057
00:44:11,960 --> 00:44:14,039
- ♪ (MUSIC CONCLUDES) ♪
- EDWARD BURGESS: Fuckin' James.
1058
00:44:14,040 --> 00:44:15,479
James!
1059
00:44:15,480 --> 00:44:17,079
FINDIGEST STAFF:
1,800 comments on this piece
1060
00:44:17,080 --> 00:44:18,559
about parents helping
their kids buy
1061
00:44:18,560 --> 00:44:20,359
shoebox properties in London.
1062
00:44:20,360 --> 00:44:21,839
I haven't had
a postbag this full
1063
00:44:21,840 --> 00:44:23,319
since that piece
about the beauty
1064
00:44:23,320 --> 00:44:24,840
of London's mosques.
1065
00:44:25,640 --> 00:44:27,599
You asked
for the right to reply?
1066
00:44:27,600 --> 00:44:30,360
Yeah. Yeah, just
nothing back as of yet.
1067
00:44:30,880 --> 00:44:32,519
Cunts.
1068
00:44:32,520 --> 00:44:34,319
(HESITATES) Why wait to publish?
1069
00:44:34,320 --> 00:44:35,759
I mean, we know
they're just gonna say
1070
00:44:35,760 --> 00:44:36,879
the allegations are baseless
1071
00:44:36,880 --> 00:44:38,120
and pull up a drawbridge.
1072
00:44:41,640 --> 00:44:43,079
What? "Tender, investigated.
1073
00:44:43,080 --> 00:44:44,559
The high-growth
fintech company's results
1074
00:44:44,560 --> 00:44:47,079
lack transparency
and should spook investors."
1075
00:44:47,080 --> 00:44:49,119
Oh, fucking hell,
can't we be blunter?
1076
00:44:49,120 --> 00:44:51,119
I mean,
"Ex-porn payments company still
1077
00:44:51,120 --> 00:44:53,159
illegally processing
porn payments?"
1078
00:44:53,160 --> 00:44:55,199
(CHUCKLES) James,
you failed to have noticed,
1079
00:44:55,200 --> 00:44:56,519
the night lawyer wants
to take out
1080
00:44:56,520 --> 00:44:58,080
a large chunk of your copy.
1081
00:44:58,920 --> 00:45:00,159
JIM: How much?
1082
00:45:00,160 --> 00:45:01,719
♪ (TENSE MUSIC PLAYING) ♪
1083
00:45:01,720 --> 00:45:03,719
- Oh, fuck off.
- EDWARD: Mm.
1084
00:45:03,720 --> 00:45:06,679
See, you can't imply circuitous accounting
without evidence.
1085
00:45:06,680 --> 00:45:08,279
We don't have
the luxury of speculating
1086
00:45:08,280 --> 00:45:09,679
without an insider.
1087
00:45:09,680 --> 00:45:10,999
Why are you so desperate
to get this
1088
00:45:11,000 --> 00:45:12,239
out of here half-cooked?
1089
00:45:12,240 --> 00:45:14,679
Ah, 'cause Paddy Radden Keefe
or someone will get the scent
1090
00:45:14,680 --> 00:45:17,879
and a serious outlet
with budget will beat us to it.
1091
00:45:17,880 --> 00:45:20,479
Look, mate, all I'm saying is
the faster we publish,
1092
00:45:20,480 --> 00:45:22,799
the safer my man
will feel going on record.
1093
00:45:22,800 --> 00:45:24,399
Now, you know I have
someone who may,
1094
00:45:24,400 --> 00:45:26,759
they may, play ball
in corroborating this.
1095
00:45:26,760 --> 00:45:29,279
You know he's too intimidated
to do it electronically.
1096
00:45:29,280 --> 00:45:31,079
Well, these guys,
they're fucking litigious.
1097
00:45:31,080 --> 00:45:32,839
So it either goes out
with the changes,
1098
00:45:32,840 --> 00:45:34,759
or it doesn't go out at all.
1099
00:45:34,760 --> 00:45:36,120
- Sorry.
- (JIM GRUMBLES)
1100
00:45:39,040 --> 00:45:40,040
All right.
1101
00:45:41,760 --> 00:45:43,599
Uh, yeah...
Yeah, fuck it, print it.
1102
00:45:43,600 --> 00:45:44,719
It's a start.
1103
00:45:44,720 --> 00:45:46,839
But if you won't unlock budget
for me to go to Accra,
1104
00:45:46,840 --> 00:45:48,599
I guess I'll book
my own fucking ticket, yeah?
1105
00:45:48,600 --> 00:45:49,960
- BURGESS: Hmm.
- JIM: Yeah.
1106
00:45:52,200 --> 00:45:53,320
You prat!
1107
00:45:54,440 --> 00:45:55,759
(DOOR CLOSES)
1108
00:45:55,760 --> 00:45:57,560
HARPER:
Took fucking long to get here.
1109
00:45:58,120 --> 00:45:59,239
It's a bit sketchy.
1110
00:45:59,240 --> 00:46:00,840
SWEETPEA:
I grew up on a street like this.
1111
00:46:01,960 --> 00:46:03,880
So we gonna tell 'em
we're in finance or what?
1112
00:46:04,440 --> 00:46:05,999
Just let me handle it.
1113
00:46:06,000 --> 00:46:07,879
- (DOORBELL RINGS)
- (DOOR OPENS)
1114
00:46:07,880 --> 00:46:09,039
Hiya.
1115
00:46:09,040 --> 00:46:11,759
We're actually from the Office
of National Statistics.
1116
00:46:11,760 --> 00:46:13,879
We might have rung your bell
by mistake, so forgive me.
1117
00:46:13,880 --> 00:46:15,159
- No worries.
- SWEETPEA: No, sorry.
1118
00:46:15,160 --> 00:46:17,839
We were under the impression
that this was an office.
1119
00:46:17,840 --> 00:46:20,279
Is there anyone who works here?
1120
00:46:20,280 --> 00:46:22,640
ALISON STODDART: Well, me...
me son works from home.
1121
00:46:23,240 --> 00:46:24,240
(MOUSE CLICKS)
1122
00:46:26,160 --> 00:46:27,279
You girls okay?
1123
00:46:27,280 --> 00:46:29,039
BOTH: Fine.
1124
00:46:29,040 --> 00:46:30,599
JEFFREY STODDART:
So I get a ton of emails
1125
00:46:30,600 --> 00:46:32,519
from various payment sites
in Africa.
1126
00:46:32,520 --> 00:46:33,999
That's the graft, really.
1127
00:46:34,000 --> 00:46:35,200
The amount.
1128
00:46:35,720 --> 00:46:37,319
Lots of attachments.
1129
00:46:37,320 --> 00:46:39,239
- Can you show me one attachment?
- JEFFREY: Sure.
1130
00:46:39,240 --> 00:46:40,720
(MOUSE CLICKS)
1131
00:46:41,480 --> 00:46:42,959
- JEFFREY: It's...
- Transactions.
1132
00:46:42,960 --> 00:46:44,000
JEFFREY: Yeah.
1133
00:46:44,680 --> 00:46:45,719
How'd you know?
1134
00:46:45,720 --> 00:46:47,239
What do you do with them?
1135
00:46:47,240 --> 00:46:49,959
JEFFREY: Well, it's loads of transactions
at different price points.
1136
00:46:49,960 --> 00:46:52,399
I collate them and bucket them.
1137
00:46:52,400 --> 00:46:54,079
It's not all that taxing, like.
1138
00:46:54,080 --> 00:46:55,999
Don't put yourself down.
Work is work.
1139
00:46:56,000 --> 00:46:58,159
JEFFREY:
So anywhere between zero pound
1140
00:46:58,160 --> 00:47:01,319
and 12 pound gets
labelled "PZ202."
1141
00:47:01,320 --> 00:47:04,679
Whereas between 12 and 80
gets "PZ303."
1142
00:47:04,680 --> 00:47:07,759
Eighty and 200.
200 and 500, it goes on.
1143
00:47:07,760 --> 00:47:10,279
And those buckets populate
a new spreadsheet...
1144
00:47:10,280 --> 00:47:11,719
- (MOUSE CLICKS)
- ...here.
1145
00:47:11,720 --> 00:47:13,959
ALISON: I'm just
popping out, Jeffrey, love.
1146
00:47:13,960 --> 00:47:15,239
♪ (INTRIGUING
DREAMY MUSIC PLAYING) ♪
1147
00:47:15,240 --> 00:47:16,439
He's not...
1148
00:47:16,440 --> 00:47:18,759
building the charts
in Tender's earnings report.
1149
00:47:18,760 --> 00:47:20,519
Um, Jeffrey,
do you mind if I just note
1150
00:47:20,520 --> 00:47:22,279
some of those codes down?
1151
00:47:22,280 --> 00:47:25,639
So, every one of Tender's
available transactions is coded
1152
00:47:25,640 --> 00:47:27,919
- by hand by gorgeous Jeffrey.
- Yeah.
1153
00:47:27,920 --> 00:47:29,599
They must have a dozen Jeffreys,
1154
00:47:29,600 --> 00:47:32,519
coding by price,
not by origination or service.
1155
00:47:32,520 --> 00:47:33,879
And that is
how they're hiding the porn
1156
00:47:33,880 --> 00:47:35,799
and the gambling, right?
So they're recording it, then...
1157
00:47:35,800 --> 00:47:37,719
Yeah. So, like,
if you buy hardcore porn,
1158
00:47:37,720 --> 00:47:38,759
or flowers for your nan,
1159
00:47:38,760 --> 00:47:40,479
or you piss away your money
at roulette,
1160
00:47:40,480 --> 00:47:42,479
- it is all categorized the same.
- Ah.
1161
00:47:42,480 --> 00:47:44,359
I mean, as long
as it roughly costs the same.
1162
00:47:44,360 --> 00:47:47,799
It's just like one big bucket
of slop called "consumables."
1163
00:47:47,800 --> 00:47:49,719
Right. Well, we have
to see this through.
1164
00:47:49,720 --> 00:47:51,280
- Yeah, I agree!
- Okay.
1165
00:47:52,320 --> 00:47:53,759
- Fuck me!
- (LAUGHS)
1166
00:47:53,760 --> 00:47:56,439
Fuck us! That was such
a fucking mental buzz!
1167
00:47:56,440 --> 00:47:57,600
Sweetpea.
1168
00:47:58,840 --> 00:48:00,680
Come work with me. Please.
1169
00:48:03,040 --> 00:48:05,719
Harper, you left Petra.
And you left Mostyn.
1170
00:48:05,720 --> 00:48:06,919
I need your word
1171
00:48:06,920 --> 00:48:08,479
that you will actually
see this through.
1172
00:48:08,480 --> 00:48:09,560
No distractions.
1173
00:48:10,080 --> 00:48:11,120
Understood.
1174
00:48:12,080 --> 00:48:14,520
If you come, you have my word.
1175
00:48:21,040 --> 00:48:22,079
Okay.
1176
00:48:22,080 --> 00:48:23,319
(CHUCKLES)
1177
00:48:23,320 --> 00:48:25,240
Great. Get Eric on your phone.
1178
00:48:28,320 --> 00:48:30,319
♪ (MUSIC FADES) ♪
1179
00:48:30,320 --> 00:48:31,639
HARPER: James, it's Harper.
1180
00:48:31,640 --> 00:48:33,719
What if I told you
you were 100 percent correct
1181
00:48:33,720 --> 00:48:35,639
on your Tender payments
laundry thesis?
1182
00:48:35,640 --> 00:48:37,879
Well, as you'll
no doubt remember,
1183
00:48:37,880 --> 00:48:41,159
earlier this year,
Lisa, your government
1184
00:48:41,160 --> 00:48:44,519
promised to "rip up
the bureaucracy
1185
00:48:44,520 --> 00:48:47,399
that blocks investment"
and urged the regulator,
1186
00:48:47,400 --> 00:48:52,319
that's you, Colin,
to "take growth seriously."
1187
00:48:52,320 --> 00:48:56,559
Blocking this deal would, um,
break both those promises.
1188
00:48:56,560 --> 00:48:58,679
Global innovators,
large and small,
1189
00:48:58,680 --> 00:48:59,999
would take note that,
1190
00:49:00,000 --> 00:49:04,799
despite the Labour Party's
often, um... lofty rhetoric,
1191
00:49:04,800 --> 00:49:06,919
the UK is closed for business.
1192
00:49:06,920 --> 00:49:09,839
It would represent a major blow
to UK citizens,
1193
00:49:09,840 --> 00:49:12,439
who currently at least,
remain largely
1194
00:49:12,440 --> 00:49:14,279
in the dark about how parlous
1195
00:49:14,280 --> 00:49:16,479
their economic circumstances
really are.
1196
00:49:16,480 --> 00:49:17,959
LISA DEARN: Noblesse oblige,
1197
00:49:17,960 --> 00:49:20,279
aristocracy-knows-best
type stuff.
1198
00:49:20,280 --> 00:49:22,200
(SCOFFS)
It's hard to stomach from you.
1199
00:49:23,200 --> 00:49:24,559
People have short memories.
1200
00:49:24,560 --> 00:49:25,839
I see my role in politics
1201
00:49:25,840 --> 00:49:27,880
as maintaining a very long one.
1202
00:49:28,520 --> 00:49:29,639
And that includes seeing
1203
00:49:29,640 --> 00:49:31,480
through a charlatan's
rebranding.
1204
00:49:32,440 --> 00:49:34,519
And I haven't forgotten
making you squirm
1205
00:49:34,520 --> 00:49:35,919
during the Lumi inquiry.
1206
00:49:35,920 --> 00:49:38,320
♪ (TENSE DREAMY MUSIC PLAYING) ♪
1207
00:49:40,480 --> 00:49:42,159
It would be
an act of narcissism,
1208
00:49:42,160 --> 00:49:45,079
bordering on self-harm,
to allow personal history
1209
00:49:45,080 --> 00:49:46,319
to deliver a fatal blow
1210
00:49:46,320 --> 00:49:48,079
to what we're on the verge
of achieving here.
1211
00:49:48,080 --> 00:49:49,839
This merger will give us
a banking license,
1212
00:49:49,840 --> 00:49:51,919
- meaning more choice, lower prices...
- (DOOR OPENS)
1213
00:49:51,920 --> 00:49:54,159
...a wave of innovation
to follow in our slipstream.
1214
00:49:54,160 --> 00:49:55,959
Bold statements,
but they're hardly backed up
1215
00:49:55,960 --> 00:49:57,320
in any of the literature
that you've...
1216
00:49:58,160 --> 00:50:00,119
Ricky Martyn, with a Y.
1217
00:50:00,120 --> 00:50:01,239
WHITNEY: Ah.
1218
00:50:01,240 --> 00:50:03,679
Chief of Staff
to the Prime Minister.
1219
00:50:03,680 --> 00:50:05,599
So the floor's all yours,
I'm all ears.
1220
00:50:05,600 --> 00:50:07,160
- (FINGERS SNAP)
- Oi, did you know about this?
1221
00:50:09,440 --> 00:50:11,519
DEARN:
Ricky, thanks for stepping in.
1222
00:50:11,520 --> 00:50:12,920
You interrupted my next...
1223
00:50:15,240 --> 00:50:17,079
You interrupted
my next question,
1224
00:50:17,080 --> 00:50:18,800
which was to Colin.
1225
00:50:19,880 --> 00:50:22,199
Uh, how does anything
we've heard have any bearing
1226
00:50:22,200 --> 00:50:25,159
on whether a merger
with an Austrian bank
1227
00:50:25,160 --> 00:50:26,479
represents an antitrust issue?
1228
00:50:26,480 --> 00:50:28,399
- The banking system...
- WHITNEY: Colin, the complaints
1229
00:50:28,400 --> 00:50:30,519
you've heard from our rivals are
obfuscating their real fear.
1230
00:50:30,520 --> 00:50:32,719
They're not scared
of a reduction in competition.
1231
00:50:32,720 --> 00:50:35,639
- They're scared of an increase of it.
- (SCOFFS)
1232
00:50:35,640 --> 00:50:38,839
WHITNEY: This is an objectively
pro-competitive deal.
1233
00:50:38,840 --> 00:50:43,279
Colin. Ricky, Jennifer, Lisa,
it's not just a question
1234
00:50:43,280 --> 00:50:45,679
of whether Labour's Britain
is pro-business.
1235
00:50:45,680 --> 00:50:48,999
It's about whether Labour is
pro-reducing financial fraud,
1236
00:50:49,000 --> 00:50:51,559
pro-teaching financial hygiene
to its electorates,
1237
00:50:51,560 --> 00:50:54,879
pro-the consumer's agency
in his own financial life.
1238
00:50:54,880 --> 00:50:56,799
Your last government
isolated you from Europe.
1239
00:50:56,800 --> 00:50:58,959
I urge you to see this
as a first
1240
00:50:58,960 --> 00:51:01,280
of many necessary steps
towards reintegration.
1241
00:51:03,880 --> 00:51:05,080
Don't you think?
1242
00:51:07,320 --> 00:51:08,520
WHITNEY: Henry!
1243
00:51:10,200 --> 00:51:11,799
(HENRY CLEARS THROAT)
1244
00:51:11,800 --> 00:51:14,159
Uh, sorry. Yeah.
You know, of course. Yeah.
1245
00:51:14,160 --> 00:51:15,399
COLIN CULLEN:
As I understand it,
1246
00:51:15,400 --> 00:51:18,279
your securing
of an Austrian banking license
1247
00:51:18,280 --> 00:51:21,239
to trade in the EU
will be followed
1248
00:51:21,240 --> 00:51:23,119
by an application
for a UK license.
1249
00:51:23,120 --> 00:51:24,199
We're a UK company.
1250
00:51:24,200 --> 00:51:25,759
- That's not how...
- RICKY MARTYN: Colin,
1251
00:51:25,760 --> 00:51:28,319
the PM wants it stated in here
1252
00:51:28,320 --> 00:51:31,119
how much he admires
Tender's vision
1253
00:51:31,120 --> 00:51:33,840
for making Britain
the fintech capital of Europe,
1254
00:51:34,360 --> 00:51:35,480
if not the world.
1255
00:51:41,960 --> 00:51:45,839
(HESITATING) And we respect
the PRA's independence
1256
00:51:45,840 --> 00:51:47,319
and honor their decisions.
1257
00:51:47,320 --> 00:51:49,039
Lisa, we could sidebar
with Colin
1258
00:51:49,040 --> 00:51:50,400
about this later, I'm sure.
1259
00:51:51,240 --> 00:51:52,479
HENRY: Thank you, Ricky.
1260
00:51:52,480 --> 00:51:55,280
♪ (TENSE DREAMY MUSIC RISES) ♪
1261
00:52:05,200 --> 00:52:06,720
♪ (MUSIC FADES) ♪
1262
00:52:08,240 --> 00:52:09,439
HENRY: Whitney was right.
1263
00:52:09,440 --> 00:52:12,039
The FinDigest piece reads
like sensationalist nonsense
1264
00:52:12,040 --> 00:52:13,639
to manipulate the share price.
1265
00:52:13,640 --> 00:52:15,240
Louisa's drafting a response.
1266
00:52:21,280 --> 00:52:23,880
I guess this is
why Moritz backed out.
1267
00:52:24,920 --> 00:52:26,839
Yeah, Alexander put me
in touch with Percy
1268
00:52:26,840 --> 00:52:28,000
in the opinion pages.
1269
00:52:28,560 --> 00:52:30,039
So,
1270
00:52:30,040 --> 00:52:32,119
you went behind my back
1271
00:52:32,120 --> 00:52:34,680
to my uncle...
to give this guy a platform?
1272
00:52:35,400 --> 00:52:37,119
Alexander agreed with me, Henry.
1273
00:52:37,120 --> 00:52:38,879
It's soft-skill negotiation.
1274
00:52:38,880 --> 00:52:41,719
This isn't some crank writing
in The Spectator,
1275
00:52:41,720 --> 00:52:43,159
"In Defense of The Wehrmacht."
1276
00:52:43,160 --> 00:52:46,239
This is a national newspaper
with responsibility.
1277
00:52:46,240 --> 00:52:48,239
It's a kook running his mouth.
1278
00:52:48,240 --> 00:52:50,119
- It's, you know...
- It's... It's what?
1279
00:52:50,120 --> 00:52:52,319
It's tomorrow's
fucking chip paper?
1280
00:52:52,320 --> 00:52:54,320
Don't be so fucking naive.
1281
00:52:55,240 --> 00:52:56,439
(SCOFFS)
1282
00:52:56,440 --> 00:52:58,479
Don't you think
you should be thanking me?
1283
00:52:58,480 --> 00:53:00,319
I mean, the deal
wouldn't have gone through
1284
00:53:00,320 --> 00:53:02,280
without me giving Moritz
this opportunity.
1285
00:53:04,480 --> 00:53:05,799
HENRY:
What you did with Hayley...
1286
00:53:05,800 --> 00:53:06,880
(SCOFFS)
1287
00:53:07,720 --> 00:53:08,800
HENRY: ...didn't feel right.
1288
00:53:10,320 --> 00:53:11,399
You know I'm an addict.
1289
00:53:11,400 --> 00:53:14,359
It felt very like...
enabler behavior.
1290
00:53:14,360 --> 00:53:16,160
YASMIN: You wanted her, Henry.
1291
00:53:17,400 --> 00:53:18,600
So you fucked her.
1292
00:53:20,280 --> 00:53:22,280
I was just bold enough
to know what to give you.
1293
00:53:23,280 --> 00:53:24,520
HAYLEY: Hi.
1294
00:53:25,080 --> 00:53:26,280
(HESITATES)
1295
00:53:26,920 --> 00:53:28,720
Big weekend, Calabasas?
1296
00:53:29,360 --> 00:53:31,239
I'm too young for hangovers.
1297
00:53:31,240 --> 00:53:33,039
Uh, your morning is
pretty stacked,
1298
00:53:33,040 --> 00:53:35,399
and I booked your car
for 7:00 tonight
1299
00:53:35,400 --> 00:53:36,839
for your dinner at Arlington.
1300
00:53:36,840 --> 00:53:37,920
Did I book that?
1301
00:53:38,400 --> 00:53:40,999
Uh, she did.
1302
00:53:41,000 --> 00:53:43,360
Do you want to join us
for a nightcap, Hayley?
1303
00:53:44,320 --> 00:53:46,519
I mean, there are
some introductions
1304
00:53:46,520 --> 00:53:47,999
that we can make for you.
1305
00:53:48,000 --> 00:53:51,359
Yeah, I... I have plans,
but I could cancel...
1306
00:53:51,360 --> 00:53:52,759
- easily.
- HENRY: No, no, no.
1307
00:53:52,760 --> 00:53:54,919
Keep your plans, Hayley.
1308
00:53:54,920 --> 00:53:57,840
(INDISTINCT DISTANT CHATTER)
1309
00:54:08,760 --> 00:54:10,200
Who the fuck did I marry?
1310
00:54:11,360 --> 00:54:12,959
(CHUCKLES SOFTLY)
1311
00:54:12,960 --> 00:54:15,359
Shouldn't you know that, darling?
1312
00:54:15,360 --> 00:54:19,559
♪ ("ORINOCO FLOW"
BY ENYA PLAYING) ♪
1313
00:54:19,560 --> 00:54:22,440
(INDISTINCT CHATTER)
1314
00:54:24,440 --> 00:54:27,279
FinDigest's article hasn't been
as stock negative as I'd hoped.
1315
00:54:27,280 --> 00:54:28,719
The market eventually
will be forced
1316
00:54:28,720 --> 00:54:29,839
to price Tender's deception,
1317
00:54:29,840 --> 00:54:31,559
and they will
punish them for it.
1318
00:54:31,560 --> 00:54:32,639
No guarantee.
1319
00:54:32,640 --> 00:54:34,519
- (CELL PHONE BUZZING)
- SWEETPEA: Hiya.
1320
00:54:34,520 --> 00:54:36,959
The Sunderland discovery
puzzle piece is useless
1321
00:54:36,960 --> 00:54:38,799
to the market
without the full image.
1322
00:54:38,800 --> 00:54:39,919
It's as good as a hunch
1323
00:54:39,920 --> 00:54:43,679
without a groundswell
of investor sentiment behind it.
1324
00:54:43,680 --> 00:54:46,440
I thought the trader you hired
was supposed to show to this?
1325
00:54:47,080 --> 00:54:48,160
Ah.
1326
00:54:49,720 --> 00:54:51,680
I agreed to Pierre's terms,
by the way.
1327
00:54:53,160 --> 00:54:55,119
I told you I didn't
want that from you.
1328
00:54:55,120 --> 00:54:56,640
Well, you have it.
1329
00:54:57,480 --> 00:54:58,680
I gave it to you.
1330
00:55:00,320 --> 00:55:02,679
And all I ask...
1331
00:55:02,680 --> 00:55:07,599
is that we widen the perimeter
of what we consider to be
1332
00:55:07,600 --> 00:55:10,240
acceptable discourse between us.
1333
00:55:11,600 --> 00:55:15,559
I won't hurt you
just by knowing you.
1334
00:55:15,560 --> 00:55:18,039
I really appreciate
your financial backing.
1335
00:55:18,040 --> 00:55:19,720
It is more than I deserve.
1336
00:55:20,600 --> 00:55:21,839
And I will break my back
1337
00:55:21,840 --> 00:55:24,439
to ensure that your faith
is rewarded. (BREATHES DEEPLY)
1338
00:55:24,440 --> 00:55:28,039
But it is already a miracle
that we are in any position
1339
00:55:28,040 --> 00:55:29,399
to be working together again.
1340
00:55:29,400 --> 00:55:30,880
And you and I both know...
1341
00:55:32,000 --> 00:55:33,639
that nothing good comes
from us being
1342
00:55:33,640 --> 00:55:35,200
any more intimate than that.
1343
00:55:39,160 --> 00:55:40,320
Ah!
1344
00:55:41,000 --> 00:55:43,159
Deutsche! Goldman spit you out?
1345
00:55:43,160 --> 00:55:45,039
Well, the universe has
quiet designs
1346
00:55:45,040 --> 00:55:46,879
- to keep us humble.
- HARPER: Huh.
1347
00:55:46,880 --> 00:55:48,600
- KENNY KILBANE: Just come this way.
- HARPER: Okay.
1348
00:55:50,000 --> 00:55:52,799
So, we would like
to place a short with you.
1349
00:55:52,800 --> 00:55:54,999
Buy-side is full of tyrants
who deny their tyranny.
1350
00:55:55,000 --> 00:55:57,439
Sell-side is full of slaves
who deny their servitude.
1351
00:55:57,440 --> 00:55:59,279
Somewhere in the middle,
all of human life.
1352
00:55:59,280 --> 00:56:00,879
- Right.
- (CHUCKLES)
1353
00:56:00,880 --> 00:56:02,760
How does it feel
to finally have the power?
1354
00:56:04,040 --> 00:56:07,359
A constant nerve-jangling desire
to enshrine it.
1355
00:56:07,360 --> 00:56:09,040
- (LAUGHS)
- KWABENA: Harp!
1356
00:56:11,880 --> 00:56:13,679
- I'm sorry I'm late.
- ELEVATOR VOICE: Door opening.
1357
00:56:13,680 --> 00:56:15,119
- ERIC: This your man?
- Yes.
1358
00:56:15,120 --> 00:56:16,599
- Eric.
- KWABENA: Kwabena.
1359
00:56:16,600 --> 00:56:18,359
♪ Turn it up, turn it up... ♪
1360
00:56:18,360 --> 00:56:19,520
ERIC: Kenny, I wanted...
1361
00:56:20,480 --> 00:56:23,960
I'm just glad I got a chance
to say sorry.
1362
00:56:24,640 --> 00:56:26,760
I am. I am sorry.
1363
00:56:27,360 --> 00:56:29,119
Well...
1364
00:56:29,120 --> 00:56:30,959
it's not the worst thing
anyone's ever done.
1365
00:56:30,960 --> 00:56:32,600
ELEVATOR VOICE: Door closing.
1366
00:56:33,960 --> 00:56:35,079
(DOORS THUD, ECHO)
1367
00:56:35,080 --> 00:56:36,599
♪ ("ORINOCO FLOW"
BY ENYA CONTINUES) ♪
1368
00:56:36,600 --> 00:56:44,600
♪ Sail away
Sail away, sail away ♪
1369
00:56:51,440 --> 00:56:55,479
♪ From the North to the South
Ebudae unto Khartoum ♪
1370
00:56:55,480 --> 00:56:59,639
♪ From the deep Sea of Clouds
To the Island of the Moon ♪
1371
00:56:59,640 --> 00:57:03,759
♪ Carry me on the waves
To the land I've never been ♪
1372
00:57:03,760 --> 00:57:05,839
♪ Carry me on the waves ♪
1373
00:57:05,840 --> 00:57:07,999
♪ To the lands I've never seen ♪
1374
00:57:08,000 --> 00:57:10,119
♪ We can sail, we can sail ♪
1375
00:57:10,120 --> 00:57:12,159
♪ With the Orinoco Flow ♪
1376
00:57:12,160 --> 00:57:14,159
♪ We can sail, we can sail ♪
1377
00:57:14,160 --> 00:57:16,519
♪ Sail away
Sail away, sail away ♪
1378
00:57:16,520 --> 00:57:20,479
♪ We can steer, we can near
With Rob Dickins at the wheel ♪
1379
00:57:20,480 --> 00:57:22,439
♪ We can sail, we can sail ♪
1380
00:57:22,440 --> 00:57:25,880
♪ Sail away
Sail away, sail away ♪
1381
00:57:28,640 --> 00:57:29,960
♪ (SONG CONCLUDES) ♪
96786
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