Delinquent Danny Fisher flunks out of high school, quits his job as a nightclub busboy, and one night gets the chance to perform. Success is imminent and local crime boss Maxie Fields wants to hire him to perform at The Blue Shade. Danny declines, but Fields won't take no for an answer.

A struggling painter begins taking inspiration from the dreams of his friend and roommate, a comic book fan who narrates an adventure story while he sleeps, but unbeknownst to the latter, the artist of his favorite comic book lives in the same building as they do with the model for her drawings.