Middle-aged Martin Mirkhein (Griffin Dunne) is a complete failure. He's run a successful business into debt, his marriage is falling apart, and now he owes the IRS $147,956 in back taxes. Martin may not have much going for him but he has read "Daniel Strong," a best-selling, self-help novel by the popular TV guru Dr. Waxling (Dennis Hopper). Now he wants to turn the novel into a major motion picture. To do that, Martin needs the rights and the revenue. Given his grating personality and terrible track record, it won't be easy to get hold of either. He sets out to meet with Dr. Waxling but ends up sleeping with Waxling's screenwriter-assistant Marie (Illeana Douglas) instead. Determined to make a movie, Martin and Marie move to New York. There, they get involved with wealthy Kim Ulander (Christopher Walken), an enigmatic businessman with quirky tendencies and a repressed desire to live dangerously. If they aren't careful, this daring duo may not come out of this deal alive.
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