The third episode of "Based on a True Story," titled "Who's Next?" takes a dramatic turn as the characters navigate the treacherous waters of creating a podcast with a serial killer at the helm. The episode begins with a tense scene at Nathan and Ava's doorstep, where Matt, under the guise of fixing an emergency leak, confronts Ava about the podcast. Her silence speaks volumes, and when Matt presses the issue, Ava is forced to confess the podcast idea and the evidence she found, revealing a surprising kinship between her and Matt based on shared perspectives and ways of thinking.
Meanwhile, Nathan anxiously awaits Matt's arrival at the warehouse, his unease growing with each passing moment. It isn't until Ava and Matt arrive together that the trio can begin to discuss their next steps. The conversation quickly becomes one-sided, with Matt dominating the discussion and Ava and Nathan reluctantly agreeing to his proposals.
Matt suggests finding a better recording location, citing issues with background noise and security. His idea to rename the podcast "Based on a True Story" and turn it into a franchise akin to "Top Gun: Maverick" adds a layer of dark humor to the macabre situation. As the planning progresses, Ava learns that a competitor plans to cover the West Side Ripper case, inciting her anger. Matt, however, reassures her that no one can match their authenticity, a claim that only adds to the absurdity of their situation.
With new equipment and a location in place, the three record their episode, but Matt is not satisfied with Ava and Nathan's cut. He randomly appears at Nathan's club with an alternative version, insisting on changes to make it more original. Initially dismissive, Ava and Nathan eventually agree to meet with Matt to discuss his suggestions, which they find to be an improvement.
The diner scene is a standout moment, highlighting the absurdity of a serial killer providing artistic direction on a project centered around his crimes. Matt's control over the podcast becomes apparent, as he clashes with Ava and Nathan's vision, insisting on maintaining elements that make it unique. Ava reminds him of their agreement to continue the podcast only if he stops killing, a condition that Matt challenges with the argument that no one would listen to a retired serial killer.
Matt also reveals to Nathan that the LAPD detectives visited him, inquiring about his alibi. He informs them that he told the detectives he was at Nathan's place after drinking at the bar and watching "Face/Off." The next day, Nathan grapples with his conscience, considering how he will explain their involvement to his future child. The club manager's mention of a playdate between her daughter and Matt's son adds another layer of complexity to their intertwined lives.
Nathan's avoidance of a direct answer about Matt and the news of the LAPD's search for him add to the tension. Ava's arrival at the club and their attempt to check podcast downloads are interrupted by the detectives' return, leading to a panicked retreat to the terrace. Ava urges Nathan to stick to their alibi, and Matt manages to defuse the situation, allowing the detectives to leave without suspicion.
The episode concludes with Ava and Nathan finally checking their podcast downloads, their gasps of amazement at the response capping off an episode filled with tension, moral ambiguity, and unexpected twists. "Who's Next?" is a pivotal installment in the series, showcasing the characters' descent into a world where the lines between victim and perpetrator, truth and fiction, blur dangerously. The performances are nuanced, capturing the desperation and fear that drive the characters' actions, and the episode leaves viewers on the edge of their seats, eager for the next chapter in this chilling tale.