With World War II raging half-a-world away, and 1938's Los Angeles appears not to be involved in the war.
Los Angeles, which is also known as "Hollywoodland" (back then), is a place where dreams are made. One of those with dreams is stunt-pilot "Cliff Seacord" (Billy Campbell), one of which is to spend the rest of his life with his girlfriend, "Jenny" (Jennifer Connely), herself having the dream of becoming a leading actress in movies.
After being shot down in a fire fight between Federal law enforcement and the Mob, "Cliff" discovers a jet pack he eventually finds out was designed by billionaire aviator, "Howard Hughes" (Terry O'Quinn).
"Seacord" eventually discovers that the Nazis are after the jet pack. So, they hire a secret agent who hides in the public eye.