Ep 1. Pilot

As a multi-billion dollar hedge fund manager, Bobby “Axe” Axelrod is no stranger to unforeseen risks. But when a former employee of his company, Axe Capital, is charged with insider trading, Axe senses that his own empire may be threatened from within. As investigations by the U.S. Attorney’s office and the Securities Exchange Commission begin to close in, Axe starts to realize that he may need to take drastic measures to maintain his formidable wealth and power.

Meanwhile, Chuck Rhoades, the ambitious U.S. Attorney for the Southern District of New York, is determined to bring Axe to justice. Rhoades sees Axe as a symbol of all the unchecked greed and corruption that he believes has harmed the country. But as he builds his case against the hedge fund kingpin, Rhoades must also navigate tricky political waters, where the line between justice and revenge can blur.

The tension between Axe and Rhoades is at the heart of “Pilot,” the first episode of the Showtime series Billions. The show, which premiered in 2016, centers on the high-stakes world of Wall Street finance and the legal battles that ensue when powerful players flout the rules.

At the start of the episode, Axe and his team are celebrating a big win in the markets. But the party is cut short when they learn that one of their portfolio managers, Danzig, has been arrested for insider trading. Axe quickly realizes that this could be disastrous for both his company and his own personal fortune. He orders his staff to keep quiet and to make sure that the company’s operations continue smoothly, even as the media begins to swarm.

Rhoades, for his part, is also under pressure. His boss, Attorney General Jeffcoat, is threatening to fire him if he doesn’t quickly produce results in his investigation of Axe Capital. Adding to his troubles, Rhoades is also having marital problems with his wife, Wendy, who happens to work as a performance coach at Axe Capital.

As the episode progresses, we see Axe and Rhoades push against each other in increasingly aggressive ways. Axe plants a leak in Rhoades’ office, hoping to find out more about the government’s case against him. Rhoades responds by having Wendy use her access to Axe’s company to gather intel for him.

The tension between these two men is palpable, and it’s clear that neither is going to back down easily. But “Pilot” also explores the complex moral landscape of their conflict. Both Axe and Rhoades have admirable qualities, but they are flawed and even ruthless in pursuit of their goals. Axe may be a brilliant investor, but he's also willing to cut corners and trample over other people's lives to maximize his profits. Rhoades, on the other hand, is a crusader for justice, but his zeal to take down Axe may be driven as much by personal animosity as by actual crimes.

By the end of the episode, we’re left with a sense of the high stakes involved in this battle. Axe may have won this round, but he knows that he’s under tremendous scrutiny and pressure. Rhoades may be closing in on him, but he’s also facing resistance from both within and outside his own office.

“Pilot” does an excellent job of introducing us to the world of Billions and its key players. The writing is sharp and biting, and the acting is superb, particularly from leads Damian Lewis and Paul Giamatti. The show clearly revels in its portrayal of ivory tower excess and hubris, but it also suggests that there may be deeper moral questions at play in this world. If this first episode is any indication, Billions promises to be a compelling and thought-provoking ride.