Billions (2016–…): Season 2, Episode 11 - Golden Frog Time - full transcript

Chuck finds he has much at stake in Ice Juice; Axe takes out a huge short.

Previously on Billions...



Ice Juice. I can take it over.

Just need the cash.

You know my money's
in a blind trust.

Congratulations. All the
analysts now answer to you.

If I fill in those blanks, I
have to put my name on it.

We've long suspected

criminal activity
at Axe Capital.

You have nothing on Axe
Cap and even less on me.

Hey, hey.

I tried calling.

Phone's been off.

I'm going to go put
the boys to bed.

I am so close to getting Axe.

You will get him...
on something else.

Sandicot is a circle.

It leads right back to you.

I think I'll get Axe
on something else.

♪ Dramatic music ♪

♪ Dramatic music ♪

♪ Tom Petty's "Even
the Losers" ♪

Everybody pays.

♪ Well, it was nearly summer... ♪

Yes, yes, yes.

I understand, Terry.

And that's why if I get
paid on time next week,

which, when you're a contractor,
you never really know.

But then, of course I pay
you, Terry, right away,

first fucking thing I do.

That's a relief.

Isn't it, Johnny?

A sweet relief.

Some guys, no matter how
well-intentioned they may be,

hmm, they can't see to find
the money when it's owed...

which leads to uncomfortable
conversations like this one.

Terry, I'm well-intended.

You're a good guy, Slayton.

And I-I'll tell you something.

I never considered
myself a bad guy, hmm?

Do you think I'm a bad guy?

No. Good.



They got all the leverage.

So I had to do something
to even the score.

See, now you have a
compelling reason to pay me

when she wants to pay
the credit cards.


I do.

I owe you, Terry.

And I'm gonna make
things right...

no matter what I have to do.

♪ Baby, even the losers ♪

♪ Get lucky sometimes... ♪

Was a time folks in
your job had the sense

to duck my fucking call until
you had good news for me.

♪ Get lucky sometimes,
oh, oh, oh, oh ♪

Remind me the next
time I forget,

there is no one in this
business who won't sell you out

if they think there's a
fucking nickel in it.

I find that strangely

Eliminates the possibility
of disillusionment.

Yes. Yes. Let the idealists

and romantics get
their hearts broken

while the hard-bitten


You have something you really
don't want to tell me about.

What happened?

They shoot Sonny
on the causeway?

Otherwise, spit it the fuck out.

Boyd was right.

I just hung up
with Patriot Bank.

After a wet and hot road show,

they are taking out
the Ice Juice IPO.

Press is getting loaded up
with the story as we speak.


They think it's a winner?

They do. There's more.

Charles Rhoades Sr. Did take

an Uncle Miltie-sized
position in the company.

I've run through it with
the primes all over town,

theirs, ours, the other guy's,

and with analysts
at the big three,

as well as our own people.

They all agree with Patriot.

- Fundamentals?
- Solid.

The projections are real.

They're rolling
out the IPO soon.

Everyone thinks it's gonna work.

No one sees a short
play we can make.

I don't see an avenue of attack.

Personnel? The fucking lawyer,

Ira Schirmer, represented
Rhoades at your deposition.

He's got a board seat.

Rhoades' father and his
closest confidante

have both jumped headfirst
into a business... together?

And you amble in here to tell me

that I have no way to wreck it?


This is Sonny on the causeway.

Top sheet says
Charles Rhoades Sr.

Is a high-net-worth individual.
He has

multiple business holdings,
mostly in real estate.

But at the moment, it seems
he's largely illiquid

because of some new

real-estate investments.

Fucker's house-poor?

Houses. City co-op,
Hamptons place,

a hobby farm in Mount Kisco,

an ocean-front
spread in Florida.

And upstate, he bought
up half of Kingsford.

But he won't be able to flip
that land for a real profit

until the casino is in and open.

And so the question is...

Yes. Where did he get the
capital for the juice company?

I did a forensic look, and
I cannot find the source.

Which means there's no
institutional money

behind the purchase of
his share of Ice Juice.

It had to be a personal
loan of some sort.

Okay. Good.

Thank you, Taylor.

So, Rhoades Sr. Got his
money for Ice Juice

from a personal loan.

Had to be someone
very close to him

to lend him that kind of jack.

Maybe a little too close.

♪ Dramatic music ♪

You know those poison-tip
arrows that certain tribes use

that go through one
guy and kill another?

This might be like that.


Golden frog poison. Mm.

I tried to smoke it once.

Shaman jumped across
the tent to stop me.

And glad I am that he did.

Otherwise, I would have to
enact this rich pageant

without your good
and wise counsel.

♪ Dramatic music ♪

The deal goes out at $18
dollars a share tomorrow.

Holy shit!

I'm worth $125 million dollars.

Yeah, you may well
be soon enough,

but don't allow yourself
to feel it just yet.

That clouds the thinking

at the exact moment when you
need to be clear-headed.

Is that gonna clear my head?

Hey, scotch this good,

make a Mongoloid
think like Einstein.

Oh, God, no.

Jesus, Dad.

We're in my house, son.

There will be no nod to this
Billie Jean King PC bullshit.

It's just wrong, you know? No.

Some things are just
actually wrong.

Ah... You two, not tonight,

not the night before
my IPO comes out.

Quite so, Ira.


Absolutely. To that.

I'm very happy for you both that

this venture's off to
such an auspicious start,

but I do advise caution...
You brought us together.

Whatever happens,
you share in it.

Oh, I do.

My emotions are all tied
up in it, for sure.

When the market closes tomorrow

and we have ridden this
thing all the way up,

that $125-million
number might be...



Don't quit your day job.

Too late.

You didn't.

Not all the way, but close.

I'm selling my share of
the firm to my partners.

It's been a long time coming.

Tomorrow is liberation day.

You never tally your sheet until
the lockup period is over,

but even I have to admit
it does feel great.

You did a good thing here, son.

You absolutely did.

I hope that's true, Dad.

I really do.

Is this...


I was gonna say "feeling
as right to you,"

but, uh...

Mm. Sorry.

I mean making a habit of these
husband/wife booty calls.

Oh. "Booty calls."

I feel I'm finally
a man of my time.

How do you think I engineer
a cup of Stumptown?

Not by heading down
to the kitchen.

You need to slip out
before the kids are up.

It's not fair to give them
a false sense of hope.


That's gonna leave a mark.

You look like my guys at work.

What's so interesting?

Pre-trading news
on the juice IPO,

and it is good news.

Oh, so exciting for Ira.

Not just Ira.

Nobody knows this, not even Ira,

but, uh... I'm in it, too.

In it?

That's right.


'Cause it's a winner.

And you know this because...

Because I saw it...

exactly what would
happen with this company

and what it would do for me.

I've only seen three things
that clearly in my life.

One was my first time
actually arguing in court.

I knew it was my calling.

Second was when I met you...

and I knew it was my destiny.

The third...

was this.



That is some statement.

Well, good luck, then.

♪ Dramatic music ♪

Where's Mom?


Good morning!


Do you need me?

No. No. I'll see you later.

♪ Rhythmic percussion music ♪


Finish it.

♪ Dramatic music ♪

You saw you had to
give him something,

an opportunity...

and you used it against him.


♪ Dramatic music ♪

We hear someone's
getting shanked today.

I'm sorry?

Your review of the analysts.

Ah. Yes. Here's my breakdown
of each analyst's performance.

I've ranked them.

And if we want to
follow the old GE model

of removing the
bottom ten percent,

it does unfortunately mean
someone has to be let go.

And you can see, from
the bottom box, who.

So, I'll tell HR, and...

Wait a sec. You're doing
it off the chart?

The chart makes it clear.

And right before bonus time.

That's cold, even
by my standards.


That's not how we do it here,
on paper, not like that.

Asymmetrical returns, right?

Not just in the stocks,
but in our people, too.

I need you to sit down
with each one of them.

I want you to probe
for their strengths

and for their weaknesses.

I want you to figure out who's
gonna outperform your data

and who has already
had his best year.

Sitting with everyone
so they can equivocate

and explain away what's
already been shown clearly

seems inefficient.
Taylor, I know you come

from analytics, and I know that
the numbers are where you live,

but got to learn the
other piece, too.

There's a small group
who can do the math.

There's an even smaller
group who can explain it.

But those few who can do both...

they become billionaires.

From a man who knows.
Well-said, sir.

♪ Dramatic music ♪


I'll do the meetings.

And that's when you shank 'em!

I am not shanking anyone.

Well, call it what you
will, but we all know

you got to shank someone to
earn respect on the yard.

How many jailhouse movies did
you two watch growing up?

We didn't have computers.

You run your department
as you see fit.

- But...
- Yeah.

You got to look right
into their eyes

as the life drains out of them.

♪ Dramatic music ♪

And have fun!

I remember the first time
I shitcanned someone!

It tasted as sweet as the
Mata Hari's armpits.

Okay, you are logged in.

So, this will track any
equities you enter,

updates, newsfeed.

You know you don't
have to pay for this.

You could just go
to Yahoo Finance

and hit "refresh"
every few seconds.

- I am aware. We set?
- Yep.

All right.

Klaxon Auto Group.

Belgian company. Mm-hmm.

Big seller in Europe and Asia
trying to break in here...

until recently.

Yeah. I read some
stories about it.

Pump the brakes, and
nothing's there.

Big recalls and fines,
corporate cover-up.

Bit out of our jurisdiction, no?

No. The company was robust.

The whole street was long,
except Bobby Axelrod

happened to be short just
before the news broke.

As always.

You have anything
proving criminality?

I'll leave that to the
super sleuths of Southern.

That's a natural alliteration.


Now, the surface looks smooth,

but there's got to be
criminality underneath.

So fire up the Mystery Machine.

Thanks, Spyros.

We'll give it a look.
Keep me posted.

Can we dig into this
one, open up a case?


Listen, it's nine-thirty.

Opening bell.

♪ Dramatic music ♪

♪ Dramatic music ♪

And they're off.

Ice Juice, trading
under the symbol ICEJ,

already pushing north of 20.

♪ Dramatic music ♪

Oh, uh, I see I have coffee.

Cappuccino, actually,
but you don't.

I can run down and
get you one...

or a green tea, genmaicha,
or whatever you might...

I have broken down and
ranked each analyst

in the following ten categories,

performance, process,
360-degree workflow,

quality of models, culture
fit, team mentality,

sheer number of fresh ideas,

stubbornness, in both its
good and bad shadings,

value/skew tendencies,
that is, do you

look for low-risk, large-skew
opportunities, and bias.

Do you get anchored to old
names that aren't working?

And then I created
an 11th category,

which I am calling desire.

That is where we will start
our discussion this morning.

So, if you would,

please talk about your desire
to remain at Axe Capital.

I grew up in Idaho.

We had a business club
in the ninth grade,

mock investment accounts.

By tenth grade, I
was running money

in an e-trade account for the
principal of my high school,

the guidance counselor, and
the asshole gym teacher.

Gym teacher?

I kept his in a
separate account,

made sure it nose-dived
the day after graduation

'cause... fuck that guy.

So, your anger at a person
in a higher station

led you to take punitive
action and book a loss.

You gonna fire me
for being honest?

What gives you a
distinct advantage

over all the other
capable people here?

Brain power...

sheer mental capacity.

You are that far
beyond the rest of us?

Well, not you. I don't mean you.

So, you're both
wildly egotistical

and scared of conflict.

No. I'm...

I asked my father,

and he said to project that I'm
not at all worried about this.

Interesting approach, Pununzio.

Please don't fire me.

This just got here from the SEC.

Axe Cap research on Klaxon Auto.



You look at this,
a strong company.

There's very few short
positions out there.

And then the stock
dives on bad news.

Disastrous, not just bad.

And Axelrod is right
where he needs to be,

which isn't illegal unto itself.

Because why?

He's got research that puts
him on the right side.

The sales were strong.

They didn't like
the finance side.

Like Tesla. They're
moving units.

Doesn't mean the numbers add up.


This company's been
around 50 years.

Not carrying so much debt.




Report signed by Taylor Mason.

♪ Dramatic music ♪

You were trying to warn the kid

about the place they're working.

Yeah. I think they know.

♪ Dramatic music ♪

How do you fire someone?

You can stand,

but I'm gonna sit for this one.

But just so I know exactly
what we're talking about,

why don't you tell me
who you're firing?

I'm not sure yet.

But when I look
at the efficiency

of the research department,
I see some bagginess,

so I'm sitting with
everyone and drilling down.

Honestly, I'm hoping
that with some direction

and some motivation,

they can just pick it up
without my having to...

Yeah, it would be nice if
a pep talk did the trick.

But analysts are too important.

Their responsibilities
are too built-in.

You can't afford to
be carrying someone

who isn't pulling
his or her weight.

So, do them the long-term favor
of ripping off the Band-Aid

and getting them one step
closer to where they're headed

and what they should be doing.

Thank you.

I had a feeling that
would be the course.

One thing, though.

Doing it will change you.

I'm used to radical shifts.

This is different.

I get the feeling

there's a specific reason
you're struggling with this.

The question you've
been asking yourself.

Say it out loud.

♪ Dramatic music ♪

I'm looking for affirmation.

My father was fired when
I was in seventh grade.

He was a mathematician
at an aerospace company.

His division and
his job went away,

and it never came back.

I imagine that
affected the homelife.


It did.

And the company?

The company thrived.

♪ Dramatic music ♪


let's go.

♪ Dramatic music ♪

All the preparations
have been made.

I'm awaiting your command.

So, is it time?

No. Not yet.


♪ Dramatic music ♪

We cracked 25.

♪ Dramatic music ♪

The stock is running.

When will you do it?

♪ Dramatic music ♪

Fucking soon.

Still alive for now.

This fun for ya?


Well, come on.

Skip out on the rest.

Let's go grab a coffee.

You and I?

Us. Yeah.

This is like the third time you
have directly spoken to me.

Yeah, well, that was before.


Okay, you don't want to
grab a coffee, fine.

We'll do the thing later.

♪ Dramatic music ♪


♪ Dramatic music ♪

Why the flower bomb?

♪ Dramatic music ♪

Because I still feel like
things aren't right between us,

and I don't like it.

And I want them to be.

Well, these are unnecessary...

but beautiful.

He's trying to dig himself out?

Man picked an
appropriate shovel.

Do you realize that
at this number,

I'm worth close to a quarter
of a billion dollars?

Up high, kid!

I'm gonna get an Ice Juice from the fridge.
You want one?

Don't get high on
your own supply.

No, I'll not be drinking
any of that nonsense.

Bring me something with
some alcohol in it.

Stock's about to pop to 30.

Double my position
at the market.

That'll tap the account.

If I had more, I'd
fucking buy more.

This thing is running like
Bill Rodgers in Boston,

fast and long.

♪ Dramatic music ♪

This ICEJ issue is a real
BBW, big and bouncy.

Traderight's bidding for close
to 700,000 shares on the name.


Place is the fucking
Lollipop Guild.

Why is a tiny-ass
retail brokerage

looking to move that
kind of weight?


That's a big print for a
small place like that.

I'm gonna find out
what's up with it.

You think it's him, Rhoades
Sr., buying in heavy?

Could be. Hedge funds
and institutions

would want to show Patriot
they're supporting the deal,

so they do their
transaction with them.

Only a knowledgeable and
motivated individual

would use a small retail
shop for a buy like this.

This is a cash play.


everything's in place.


It's golden frog time.

♪ Rock-'n'-roll music ♪

It seems pretty fast.

It is. And nasty.

♪ Rock-'n'-roll music ♪

Well, it'll make for a
bumpy couple of days.

But no permanent damage, Doc?

If they're healthy
to begin with, no,

no permanent damage.

I'm still not sure
I'd recommend it.

I've registered that.


You want your slide
back from my lab or...

No. Get rid of it for me.

For your foundation.

Money's in the account.

And as you know,
it's a lot of money.

How much do I use?

Not much. Just trace amounts.

That's all that's in there.

It's like Brylcreem, then.

Little dab'll do ya?

♪ Jazz music ♪

Just trace amounts on my signal.

Hey, Ron.

How ya feeling, Ron?

Hey, Ron.

What's up, Ronnie?

We got just the guy.

He owes.

Sometimes a man comes
into your life

at just the right
time, you know?


♪ I feel so excited, oh ♪

♪ Because life has just begun ♪

♪ Rock-'n'-roll music ♪

My wife caught her
stealing jewelry.

I love the way she cleans,

but it's either this
or she gets deported.

Her choice.

Well, as long as it
doesn't come from you.

You get someone else to ask her.

Got ten guys who can do that.

Won't track back to me.


♪ Jazz music ♪

Thanks for paying it off.

I do what I say I'm gonna do.

Are you sure about this?

This is not gonna be pleasant
for whoever you hire.

It's got to be people you trust.

There can't be any
clear connection.

I got it.

I have some ideas.

♪ Jazz music ♪

I can't do it.

What do you mean, you can't?

You got to do it.

Look, you promised
me, and you owe me.

I still owe you,

but I can't do this
to myself, man...

not even for you.

♪ Jazz music ♪

Mm-hmm. Mm-hmm. No,
I believe you.

I just need a number
to call you back on.

Hold on one second.

Hey, Burt, I'm gonna
have to table

the new home-starts feature.

I've got something breaking.

People are getting
sick on Ice Juice.

♪ Dramatic music ♪

How's it going?


Oh, I'll cover that shit.

You'll lose.

No way.

What's the action on?

We're short a name.

As of now, it's going up.

People are taking bets
on the exact moment

it will turn and start falling.

See you in a bit.

Book it.

Maybe I'll get in on this.

Anybody betting it won't turn?

No, ma'am. This is
a red-light short.

Axe doesn't get positions
this size wrong.

What is it? Ice Juice.

♪ Dramatic music ♪

You know what? No, thanks.

♪ Dramatic music ♪

Sorry to barge in.


Always welcome.

What's going on?

How's your stock play?

I heard something.

I think it's going well.

It seems to be up, way up.

Oh, Chuck.

It's not gonna stay there.

And the thing I heard...

Axe Cap is short the stock.

♪ Dramatic music ♪

Uh, thank you for telling me.

I appreciate it.

Although I don't appreciate
you looking at me

like some kind of a pathetic
dog you see in a shelter.

Get out of the stock,
Chuck, any way you can.

They're gonna crush you.
Is that so?

Wow, I'm glad to see you
view me as so defenseless.

♪ Dramatic music ♪

I think enough of
you to come here

and violate my agreement
with my company.

And I think of you as a
fucking titan in your arena,

but you don't understand
what's going on.

No, I think that I
understand plenty

about your lack of
faith right now.

Okay, we can bicker as long
as you want another time,

but are you gonna get
out of your position?


♪ Dramatic music ♪

Can't or won't?

What difference does it make?

Foolishness is right
next door to strength.

So they say.


Mafee, it's Wendy Rhoades.

The Ice Juice short, how
do I get a piece of that?

There's an allocation.
I can make it happen.

As much as I can get.

You got it, baller.

♪ Dramatic music ♪

Eat anything unusual today?

I've been drinking a
lot of this stuff.

Ah, we'll take a look.

It's supposed to
be good for you.


♪ Dramatic music ♪

I've got illness breaking
out at six other locations.

Some victims already have lawyers
and are prepping a suit.

Trace amounts of bacteria
in the warehouse.

I've got a doctor who treated a
couple of the sick patients,

uh, speaking out against Ice
Juice's flash-pas technique

as faux science and unsafe.

- Hey!
- Yeah?

Run down flash-pas!

Run down hazards of
a corrupted fruit

and/or vegetable supply.

Run down fraudulent
purification techniques.

We may also need a sidebar

on food-borne outbreaks
at chain restaurants,

the historical effects
on the populous,

- company, the whole thing.
- All over it.

This is spider
eggs in bubblegum.

This is another Chipotle.

It's worse.


What do we got?

Excuse me. Hey.

Hey, Chuck, it's...
It's Armageddon.

Easy, Ira. Tell me what
the hell's going on.

Stories are hitting, news
outlets calling for comment,

social media, the press.
People are getting sick.

Something's breaking out.

They don't know if it's listeria

or Legionnaires' or
what the fuck it is.

- You have a TV, put it on.
- I'm not gonna

turn on my TV, Ira.
Tell me what I'd see.

People getting loaded
into ambulances,

reports of illness going
back several weeks,

which my fucking clients
failed to mention.

The stock was getting pummeled
so badly, they halted trading.

The smart money's
fled to safety,

and when that happens,
the bottom drops out.

When trading resumes,
the deal's gonna break.

That's when you go below
the original deal price,

and th-that's...

an unmitigated disaster.

Yeah. This is, uh...

This is fucking horrible.

Is there any way you can sell?

Chuck, my stock's
all restricted.

Officer class, Ira.

Keep it together.

♪ Dramatic music ♪

Son of a bitch.

Rudy, I've brought you in last

because when I look at this on
a purely results-based model,

that's where you stand... last.



I'm really last.

By the numbers, yes, dead last.

My... My name isn't Rudy.

It's Peter.

Oh. Do you prefer Peter?


And I love that
they call me Rudy.

You know why?


It's because this place is
like Notre Dame was for him.

The real Rudy.

I was a high-school fuck-up.

But I impressed a teacher,
got into Hofstra.

I saw Axe speak there,

and from that moment, this
is all I dreamed about.

Being here at Axe Capital?

Yes. The next time Axe
showed on campus,

I asked him a smart question,

one that I had thought about,
planned out ahead of time,

and he said to see
him when I got out,

he'd find a place for me.
He did.

But I figured he'd be
like my coach here,

and, well, he hasn't been that...
at all.

Just... Just been left to
figure it out for myself.

Well, there's no janitor
with a heart of gold

here to root you on,

and no one gets on this field
unless they are the fastest,

strongest, or most talented
person on the depth chart.

I know.

And I know I don't
really belong,

on paper or in any other way.

But if I somehow make it
out of this room alive,

you won't see another person
in this place work harder,

longer, faster than me.

I promise.


Rudy! Rudy! Rudy!

Rudy! Rudy! Rudy! Rudy! Rudy!


Rudy! Rudy! Rudy! Rudy!

Rudy! Rudy! Rudy! Rudy! Rudy!

I just now realized what
they're saying, Rudy...

Rudy! Rudy! Rudy! As
in Rudy Ruettiger.

Rudy! Rudy! Rudy! Rudy!

♪ Dramatic music ♪

♪ Dramatic music ♪


Have the kid get in here

and get this fucking
software off my computer.

I have no more use for it.

Well, if old Rhoades Sr. Was
counting on any liquidity

from this particular venture,
he is sadly mistaken

'cause this is leaving him
cash-strapped and tits-up.

Speaking of cash,

this could have him looking
to sell Palm Beach.

Ooh, the pride and joy.

If you knew how many times
I'd seen that crusty bastard

strutting around Mar-a-Iago,

bragging about his
better frontage.

You know what?

Have someone down
there ready to pounce

if the place hits the market.

Straw bidder.

Yeah, I'll scoop it up cheap
when the clearance sale starts.

Trading on ICEJ resumed just
in time for the closing bell.

Care to watch the docking
of the Hindenburg?

♪ Dramatic music ♪

Ding, ding, ding!

Closing price,

three, eighty-nine.


Reuters says,

"Fresh-Squeezed Chapter
11 in its future."

This is one busted-ass IPO.

Let's crack open that bottle.

Just need your signature
on the trading report.


We crushed it today.

Oh, oh, what is this?


The big ICEJ allocation to
the New Beginnings fund.

What the fuck? Wendy
Rhoades wanted in.

She called in the request right
before the thing went south.

She took down a huge chunk
of change for herself.

I assumed it came from you, Axe.

It fucking didn't.

You notify me next time she
makes a request like that

before you fucking fulfill it...

unless you want to
start thinking about

another career besides
trading equities.

You got it.

Fuck. Sorry.


What do you think she knew?

Not sure.

Either way, it's a strong move

betting against the
family like that.

Paid off.

♪ Dramatic music ♪

Who'd you can? Oh.

I didn't do it to be
perceived as tough,

but to make it clear that
if you survive today,

you are now officially
on the team

and wouldn't have to keep
looking over your shoulder.

Yeah, yeah. Someone still

got a stake through the heart,
and I want to know who.

I could have justified
firing Rudy.

He's still finding his footing.

But he's scrappy and
deserves the chance.

So I fired Pununzio instead.

He's kind of a weasel.

Good a reason as any.

And now you're
baptized by blood.

I need a drink.

Like a real drink?


Maybe like a whole
bottle of a real drink.

You're not gonna be in
that clown car for long.

I love it. It's a great car.

Look, I didn't want
to do this on site.

That's why I offered
to take you to coffee.

Do what?

This is for you.

Open it up.

That's $250,000 dollars...

as a personal thank-you
from me to you, on Klaxon.

And I'm cheap as fuck.

I'm well-compensated, more
than well-compensated.

Yeah, officially
and on the books,

with records of the
transactions everywhere.

But I wanted to spiff
you above that.

Everyone in our line needs
cash squirreled away.

It can make all the difference.

Believe me.

I can see you are
telling the truth.

Then believe me when I say this.

There's more coming...

more of all of it.

♪ Dramatic music ♪

It took me a while...

but now I understand exactly
what Axe sees in you.

♪ Dramatic music ♪

Have a good night.

Did I actually hear Mom
crying from the other room?

Might have been me.

You want to play the
"on paper" game now?

I'm down millions today.

I can't believe how much
goddamn money I lost.

It was never yours
to begin with.

You got to get it in the boat

before you can hang it
on the goddamn wall.

Only thing to do in
a case like this

is write off the loss
against your cap gains.

This was supposed
to be my cap gain.

Anyway, I-I should be
apologizing to you.

Fucking right.

But you should really
apologize to your friend,

since he's the one who
took the actual pounding.


Oh, God.

No, Chuck, you didn't... You
didn't go into your trust?

I authorized it.

I had that much
confidence in it.

And you, Ira.

I'd do it again.

It was a fluke thing.

The whole eight-
million-dollar equity piece?


That's where we started.


- Dad?
- It was rolling.

The thing was a
complete monster.

And what you do...

when you have an
advantage is press it.

How much?

All of it.

So, my entire trust is...


I'm gonna throw up.

Well, you did have
that Ice Juice today.

♪ Dramatic music ♪

I've never used the
word swanky before,

but that's what this
building is swanky.

I wouldn't use
that word, either,

but I can't say you're wrong.

It must feel good.

My own apartment's probably a
quarter the size of yours,

in a part of town that's
considerably worse than this.

During the winter,

the heat pipes bang
practically all night.

I grew up in a place like that.


Sometimes I look
at my surroundings

and wonder why I stay...

doing what I do.

I mean, your boss offered

to put me in a place like this.

Really? Oh, yeah.

Practically got on
his hands and knees

and begged me to work for him.

And the night I turned him down,

when I got home and
looked around my place,

for about ten minutes,
I felt like an idiot.

I can understand that.

Then I fell straight asleep
'cause I had a clean conscience.

I was where I was
supposed to be,

doing the right thing.

I am happy for you.

And now I'm going to go inside.

Yeah. You can in a second.

But as you're putting your
head on your pillow tonight,

I want you to think about
what you're really trading on

in order to live here, work
there, be who you are.

I think about it all the time.

That means there's still hope...

because soon, you'll never
think about it again.

You will just glide along, rich,
with even bigger apartments

and nicer watches
and faster planes,

only none of it will
matter to you at all.

We never use the words
we really mean.

Like "swanky"? No.

Like "soul."

Your soul.

Axelrod will demand things
of you incrementally

that will change the fundamental
nature of who you are,

and I am here because I
can give it back to you.

I don't believe in the soul...

not in the way it's
traditionally used,

nor in the more modern meaning,

which connotes connectedness
and being spiritually awake.

What I do believe in
are actions, purpose,

purity of vocation,

and the challenges that come
along with those things,

the things that
make me feel alive.

Axe Capital gives me
all of that and more.

So, you worry about my soul,

and I'll just keep doing my job.

I figured on a little more wow
factor for two-thousand bucks.

I had the rest dropped
off at the hospital.

Very thoughtful of you.

You know who you
look like right now?


Bobby fucking Axelrod.

It's been a while.

Well, I had a good day.

I'm glad you noticed.

Oh, I notice.

I'm not the one who takes
shit between us for granted.

You're right.

And that's why I was trying
to formalize my apology

with the flowers.

Then I formally accept.

So, we can start over from here?


So, this is like a first date?


Tell me something
about yourself.

I'm in finance. Mm.

Sounds boring.

No! No, not today.

Today, I kicked ass at work,

yeah, big project I've spent
the last few weeks on.

Whose ass did you kick?


Big time.

Pounded a company he's in.

Your friends at the bar helped.
Everyone stepped up.


Those don't look like Bruno's.

Mm. Fuck Bruno.

Ryan did those up in
the wood-burning oven.

Remember our real first date?


I was trying to dazzle you.

Well, you did.

I didn't even like
that stuff back then.

Ah, you got used to it.


Still is better than anchovies.

That's for fucking sure.


♪ Dramatic music ♪

Hey, what's going on?

Where are you?

I'm trying.

I don't know, Bobby.

I'm... I'm really trying.

♪ Dramatic music ♪

♪ Soft instrumental music ♪

♪ Dramatic music ♪

♪ Tom Petty's "Even
the Losers" ♪

The chunk of cash I need

is on a statement
with your name on it.

The blind trust.

Well, if this is
what it takes...

uh, to help you and Ira...

- Does that mean...
- Yeah.

Crack it open.

♪ Dramatic music ♪

How would you like to be done
with this floor for good

and out of that halfway
house, and home,

with only your platinum
wristwatch for jewelry

instead of an ankle bracelet?

When? How?

Almost immediately.

Any deal I make with you
has to be in writing.

Terms of your release will be...

this meeting and what
I instruct you to do

will never even be
spoken of again.

Whatever it is, I'm ready.

Upon my word,

you will make a call
to Bobby Axelrod

and tell him that you
need to see him,

that it's urgent.

And then when he shows up,
you'll tell him the truth...

What's on your mind?

That my father,
Charles Rhoades Sr.,

has taken a massive
position in a new IPO...

Chuck Rhoades Sr. Has
taken a significant stake

in a company that's
going public.

Ice Juice.

Ice Juice.

No shit.

♪ Dramatic music ♪

I believe I can do all that.

♪ Dramatic music ♪

Bittersweet day for
me today, Dake.

Why's that, sir?

You must have
impressed some people

while you were in New York,

the Attorney General among them.


You've been named interim U.S.

for the Eastern District.

I've been named...

A.G. said, "Smarts and
ambition are coming off him"

like heat waves from
an Oklahoma blacktop."

You've got to get on the train.

I always knew I'd be
working for you someday.

♪ Dramatic music ♪

♪ Baby, even the losers ♪

♪ Get lucky sometimes ♪

♪ Even the losers ♪

♪ Keep a little bit of pride ♪

♪ They get lucky sometimes ♪

♪ Baby, even the losers ♪

Rhoades? ♪ Get lucky sometimes ♪

You didn't think this shit
happened by accident,

did you, Mr. Dake? ♪
Even the losers ♪

So, you leveraged the Attorney
General into my appointment.

It was no arm twist.

I just told her that
smarts and ambition

were coming off you

like heat waves from
an Oklahoma blacktop.

And she agreed.

Word of advice.

You get the big job,

you want to hit the
ground running.

You're gonna have a shitload
of FBI at your disposal,

and this is how I suggest
you deploy them.


♪ Jazz music ♪

Bobby Axelrod's moves

will be almost
impossible to track.

So, in addition to
monitoring all his trades,

follow everyone he touches
and everyone they touch.

The pattern won't
be easy to spot,

but it will be there.

♪ Jazz music ♪

There are 18 Ice Juice locations

in New York City alone.

You will need to
monitor all of them.

Because he will be
acting out of malice,

he will take risks
he'd normally avoid.

He will use compromised

You must be ready
across the board.

♪ Jazz music ♪

The stock is running.

When will you do it?

Fucking soon.

♪ Dramatic music ♪

♪ Baby, even the losers ♪

♪ Get lucky sometimes ♪ Oh!

♪ Even the losers ♪

♪ Keep a little bit of pride ♪

♪ They get lucky sometimes ♪

♪ Baby, even the losers ♪

♪ Get lucky sometimes ♪

♪ Even the losers ♪

♪ Keep a little bit of pride ♪

♪ Yeah, they get
lucky sometimes ♪

♪ Baby, even the losers ♪