In San Francisco, 1998, 19-year-old Greg Sestero meets Tommy Wiseau in acting classes with Jean Shelton. Shelton criticizes Tommy's performance of a scene from A Streetcar Named Desire, but Greg is impressed by Tommy's fearlessness and the two become friends. On Tommy's suggestion, they move to Los Angeles to pursue acting careers.
Greg signs with Iris Burton, a talent agent, while Tommy faces rejection from agencies, casting directors, and Hollywood insiders. Greg develops a relationship with Amber, whom he meets at a nightclub, and Tommy grows jealous; as he fails to find work, he becomes disheartened. As Greg's auditions also dry up, he shares his frustrations with Tommy, who decides to make a movie for them both to star in.