As Kendall, Shiv and Roman hone their pitch for investors in LA, Logan learns of a rival bid on a long-coveted acquisition.
Logan celebrates his birthday. Logan tries to close a deal buying Pierce Global Media. Kendall, Shiv and Roman craft a plan to screw their father from getting what he wants. All of these have been plots featured on the show before. And yet, they each provide a vibrant new energy for the start of the final season. Yes, it could absolutely be tedious to see how little has actually changed. The Roy family has all this wealth and influence but their biggest problems are hurt feelings and emotional instability. It's fascinating to see this story contrast with the prior attempts. On Logan's previous birthday, everyone was compelled to make an appearance at his lavish apartment. It was a vibrant affair where everyone needed to capitulate to his demands. Logan is still the most terrifying and imposing figure in this world. People are terrified of him. They never want to be on the receiving end of his vitriol. He will always hit back harder. He has those cutting instincts. He hasn't lost his touch despite his increasing fragility. He has seemingly gotten everything he has ever wanted. The apartment is still full of people loyal to him and his business. The emotions no longer feel genuine. It's all just pleasantries meant to make him feel good and appreciated. Everyone has worked to accomplish his vision. He is just a few days out from closing the GoJo acquisition. That will cement his legacy. So much of the story was built around who would inherit Waystar Royco from Logan. He ultimately decided to betray all of his children. None of them could measure up to what he demanded. He delighted in always pitting them against each other. No one could successfully challenge him because he knew how to manipulate the emotions of the others to effectively target the outlier in the family. Positions have shifted. Kendall, Shiv and Roman were unified in the attempted coup to oust their father from power. He still defeated them. Tom proved his loyalty. He has never seen Logan lose. It's impossible. It's better for him to stay in line. He will be rewarded for that. That's true even if he is no longer a member of the family. Tom is the one navigating the deal to buy PGM. Logan is still calling the shots. It's all a vindictive personal play. He wants to take down the business that was always seen as his ideological competitor. He has failed many times over the years. The financing and personalities simply never came together. Blood is in the water. The Pierce family wants out of this legacy company. They are eager to sell. That deal would expand Logan's influence in the news marketplace. That's the value for his future endeavors as he focuses on in the closing beats. He's just incredibly isolated. He wants to delight in the love of his children. He wants them by his side. He also needs them to remain subservient to his wishes. That's just no longer possible. They are making their own deals and actually pulling them off too.
In the months since the betrayal in the third season finale, the Roy siblings have united behind the launch of a small upstart that could disrupt the industry. They have lined up investors. They have a bold vision while understanding they'll need to develop scale gradually. It's a risky venture. However, they've successfully escaped their father's orbit. They no longer have to live their lives defined by what he needs from them. It's still a very tentative working relationship amongst the siblings. They are all in. They roast each other. And yet, that's how they show their love. They can never showcase too much emotion or vulnerability. That's a sign of weakness. That's what their father forced into them. It's also just too tempting to compete in this bidding war for PGM. The siblings see the allure of taking over an established brand in an industry they already have experience in. Roman worries that it's all in retaliation against Logan. They know how much he wants to destroy this company. If they consider the deal, then they are entering into competition with him once more. It's not only a competition for who can say the largest number. It's also tied deeper into the presidential election that's just days away. Nan weighs her options carefully. She doesn't like being thrown into the middle of a bidding war. However, she delights in pitting the two sides against each other. Because of this family dynamic, she is able to secure the best financial deal possible for her own family. They are leaving this space. It's something they've all decided on. Logan once had that clarity himself. He knew it was better to trust an outsider with his company then leave it in the hands of the children he has never regarded highly. He intimidates people into submission. They mess with each other just in order to take some power back for themselves. Logan has always been on top. But now, that power dynamic shifts. It all happens so quickly. Kendall, Shiv and Roman discuss how much money they can produce. They are willing to make this deal happen. They need to end the conversation. That's the only way they can make a point to their father on his birthday. Sure, he's in a contemplative mood. He expresses his opinion of there being nothing after death. He's grown disillusioned by humanity. No one is truly unique. Life is simply a matter of competing in various marketplaces. Logan has done very well. He doesn't have the love and support of his family though. He shares his outrage against them. They still did the impossible. They won. Now, the siblings just have to run this business where the stakes are already so high to remain competitive and profitable.
After all of this closes, Shiv returns to the city and has her first real conversation with Tom. He certainly wants to explain why he took those fateful actions in Italy. However, Shiv doesn't really want to hear it. It would only make her more upset. They have already hurt each other in numerous ways. They both tried their best to make this marriage work. It has simply run its course. She was happy to declare her pending divorce when her marriage was seen as a threat to the PGM deal. That doesn't matter to Shiv anymore. Moreover, she can't allow Tom to have any power over her life. He took that away from her in Italy. She trusted her brothers. They stood united in this quest for power. It was snuffed out of them by Logan who was armed with the information Tom came bearing. Tom had his reasons. They were easy to understand. But now, he no longer has a marriage. Instead, all he has is his friendship with Greg. They have new branding. Tom still exerts superiority as he proves himself indispensable to Logan. Greg is present because he has failed upward by trusting the right people in this company. He speaks out but really doesn't have anything to back up his attempts to flex power. He plays into the game and gets burned every single time. That's reliable and enjoyable for Tom. It's still nothing more than a distraction from the pain he's feeling with Shiv. They came to an understanding. They agreed to a trial separation. That time has ended. Shiv has made her decision. She claims this power again. And yet, she still holds Tom close. They lay at opposing angles on the bed together. It's not romantic. She shuts down his attempt at sex. The intimacy and vulnerability is still present. These two have both been scarred by Logan. He has long been the most influential person in their lives. They may never be able to find another person who understands that emotional baggage. All of Logan's children are damaged in that way. Shiv and Tom tried to hold onto one another. She chose herself while he remained devoted to Logan. That was a risk he wasn't willing to take. And now, the relationship is over. It's as simple as that. The betrayal cut too deep. The spark still remains of what once burned so bright between them. Tom was always more in love with Shiv. She was more hesitant to admit her feelings. She was always looking for an excuse to blow things up. This may have been inevitable - just like Connor failing to score one percent in the presidential contest. It's still destructive when the moment actually plays out. It's just a matter of people acknowledging what things actually are instead of throwing more money at it in the hopes of a different outcome.
