Shields partners with aspiring director Amiel, whom he meets at his father's funeral. Shields intentionally loses money he does not have in a poker game to film executive Pebbel, so he can talk Pebbel into letting him work off the debt as a line producer. Shields and Amiel learn their respective trades making B movies for Pebbel. When one of their films becomes a hit, Amiel decides they are ready to take on a more significant project he has been nursing along, and Shields pitches it to the studio. Shields gets a $1 million budget to produce the film, but betrays Amiel by allowing someone with an established reputation to be chosen as director. The film's success allows Shields to start his own studio, and Pebbel comes to work for him there. Amiel, now independent of Shields, goes on to become an Oscar-winning director in his own right.