As a woman lies sleeping, a man methodically removes all traces of himself from her apartment and leaves, throwing a bag of belongings into a dumpster as it is emptied.
Michael Boll, a shy, socially awkward doormat, finds important work data missing. He knows that Patterson, his dishonest coworker and rival for a senior position, has somehow hidden the data but can't prove it, let alone bring himself to accuse the man. Frustrated, he hides in his office only to be confronted by his fiancée Ruth, whose prattling about their upcoming wedding only worsens Michael's anxiety. He goes to a bar at Hermosa Beach and buys a drink for a woman who has lost her wallet. Her abusive boyfriend appears and assaults Michael. Suddenly, the man from earlier appears, threatening the boyfriend with a broken beer bottle until he leaves. Michael turns to thank his benefactor, but the man has disappeared.
At home, Michael's older brother Pismo arrives to ask for money, once again blaming a prior drug conviction for his inability to get a job. Michael is exasperated by Pismo's apathetic lifestyle but gives him the money nonetheless. Realizing his wallet is missing, Michael leaves his number at the bar then jogs to Hermosa Beach Pier. There he discovers the mysterious man, who introduces himself as Alex. They go out for drinks and, after listening to his problems, Alex tells Michael he needs to get the best of Patterson. Emboldened, Michael steals some of Patterson's data just before an important presentation and uses it as leverage to get his own data back, leaving him exhilarated.
Alex quickly introduces Michael to a life of self-indulgence, aggression, and anarchy. At an art gallery they encounter a beautiful, hedonistic woman named Claire, who Alex convinces to have sex with Michael. The next morning, Michael wakes up and discovers, to his horror, that Alex filmed the encounter, while Claire is unfazed. At a party at Ruth's parents' house, Alex tricks Ruth into watching the sex tape, causing her to break off the engagement Michael had previously admitted he didn't want. Afterward, Michael is led by Alex on a drug-fueled crime spree, culminating in an assault on Patterson, though Michael is too drunk and high to remember what happened.
At work, Michael comes to his senses when he hears his secretary gossiping about the assault. He confronts Alex, who tells him in detail what happened and that they threatened to kill Patterson to ensure his silence. Michael declares himself finished with the toxic relationship and kicks Alex out. At work, Michael wins the senior position because Patterson has withdrawn, but is too guilt-ridden to enjoy his success. He returns home to find that Alex has completely stripped his apartment. When Alex takes credit for the promotion, Michael tells him to keep the stuff and consider them even.
Alex lures Claire to Michael's apartment while Michael is at work and films himself beating her to death with one of Michael's golf clubs. When Michael returns home and sees the video, Alex beats Michael and takes both his blood-soaked jacket and the tape as insurance. Trapped, and unable to go to the police, Michael enlists Pismo's help to get rid of Claire's body in the La Brea Tar Pits. However, she is quickly discovered, and Michael finds the golf club planted in his office.
Michael sends Pismo to a floating sex party Alex had previously introduced him to. Pismo grabs a beer bottle with Alex's DNA and reads the driver's license of the girl he's currently seducing. Noticing this, Alex stalks Pismo back to his apartment and attacks him, but flees when Michael arrives. Michael is about to leave to kill Alex when Pismo notices Alex has rigged Michael's car to blow up. After disabling it, Pismo convinces Michael that killing Alex will only prove he's no better than him.
At the girl's Manhattan Beach apartment, Alex has sex with her and another woman before preparing to disappear again. As he grabs a plastic bag with the bloody jacket, Michael appears and holds a knife to his throat. Alex admits he was going to plant the jacket at Michael's apartment and wrestles the knife away, chasing Michael to Hermosa Pier. Alex traps him at the end of the pier, but Michael suddenly pulls a gun, lent to him by a security guard from work. Alex preens and tells Michael his belief that humanity is inherently evil, and admits to beating up Patterson while Michael was unconscious and murdering Claire. Michael calls out to Pismo, who has recorded the entire confession with a video camera. Pismo stumbles, distracting Michael, and Alex lunges at him, but Michael fatally shoots him in self-defense and his body falls into the ocean. At dawn the police, summoned by Pismo, arrive and Michael walks out to meet them, followed by Pismo carrying the video camera holding the evidence.
Michael’s association with Alex leads to violence and betrayal, culminating in a dark confrontation that forces Michael to confront the consequences of his actions.
The ending serves as a cautionary tale about surrendering agency to charismatic manipulators. Michael’s journey from passive observer to active participant in his own downfall underscores the dangers of moral compromise and the price of reclaiming control. The film lands as a stylish warning against letting others steer your destiny—no matter how seductive their promises.