In this episode, we first discuss what Francis Drake was up to (basically the Rathlin Island Massacre of 1575), before moving along to Martin Frobisher. Frobisher was initially searching for a north-western passage to the Indies, but eventually he and the newly formed Cathay Company got distracted by the iron pyrites they found on Baffin Island (they thought the iron was gold). As you can imagine, these highly expensive expeditions ended up being a massive bust when they found out that the "gold" they had been collecting was nothing but iron pyrites.