Pushkin.

This is an I-Heart podcast.

We're two journalists from the Financial Times.

We've spent six months following the money in porn.

Our aim has been to find out who rules the industry. In this episode, we bring you our encounters with some of the biggest

financial companies in the world and some of the most explicit discussions of sex in this series

so far. So please be aware this is definitely content for adults.

Previously on Hot Money, a secretive former banker bought Mind Geek, a giant porn company

whose flagship site was driven by user-generated videos. The law allowed Mindgeek to take a hands-off approach to moderation,

largely avoiding legal liability for the content that users posted to their site.

That's pretty much all the context you need for today's show.

When we started our investigation into the adult industry,

we thought online porn was basically unregulated, uncontrollable in a way,

just too big for any government to handle.

But it turned out we were wrong.

Well, not entirely.

We just missed the real story.

Remember Stoya? The performer and author in our first episode?

I'm in lingerie and people tip me and I take my bra off or pull the cups down and I jiggle my shoulders while saying,

Thank you! Though I get my period.

And then I have cramps. And then I really don't want to be vigorously jiggling.

But I also want people to know, like, don't tip me and be disappointed. We are not doing

...