As the millennium approaches, LA is a violent chaotic, hedonistic place with violence everywhere and armed troops on the streets.
Sleazy grifter Lenny Nero (Ralph Fiennes) makes a living selling illegal "clips", recorded experiences where you fully experience events as somebody else which are consumed in a manner similar to recreational drugs. Many of these are pornographic or involve extreme violence, up to and including death. Shying away from "snuff" he mostly deals in tailored pornography but also anything he can do a deal for.
One of his associates Iris contacts him, scared and looking for help and says his ex-girlfriend Faith (Juliette Lewis) who he is still obsessed with is also in danger. Later he is passed an envelope with a clip containing Iris' brutal rape and murder from the point of view of the perpetrator.
Unwilling to go to the Police (he's a criminal disgraced former cop) Lenny enlists the help of his friends Mace (Angela Bassett) a bodyguard / chauffeur and Max (Tom Sizemore) a private investigator to work out what's going on and try to keep Faith safe.
Faith, quite sensibly, wants nothing to do with Lenny.
CW: sexual violence, rape and murder close up