Someone is messing with Stark Industries, sending subliminal messages to make everyone literally go nuts and start smashing each other and all of Tony’s stuff. In the melee, we get the first appearance of Indreis Moomji. She becomes Tony’s girlfriend later, and it was rare to have a woman of color—let alone one from Asia—as a major side character in the 1980s. Hell, it’s still rare. Much later we learn she was genetically enhanced to make men horny by having pheromone powers.
Iron Man tracks the source of the subliminals all the way to Mexico where he fights a robotic knight.
After he wins, we see the true villain’s hand, talking to a guy dressed like a chess bishop and setting up his next play.
We will learn in later issues that the mastermind was competitor Obadiah Stane, and this is his first appearance—but we only see him in shadow.
Nice use of chess to set up that this will be an extended arc, where Tony gets manipulated and destroyed.
Mike Vosburg does a fill-in on pencils for #162.