At a comedy club, NBC executives invite Jerry to pitch a TV show starring himself. George and Kramer spitball haphazard premises set in a gym class, an antique store, and a circus. Kramer trades a radar detector to Newman for a motorcycle helmet, and invites him and Jerry to a party. Jerry warns that Kramer is making a bad trade, but Kramer lets Newman think he came out on top, while hiding that the detector is broken.
Meanwhile, Elaine is away on a romantic vacation in Europe with a psychiatrist, Dr. Reston.
George and Jerry joke about confusing "seltzer" and "salsa" in a Spanish accent, inspiring George to base Jerry's entire show on random conversations between themselves, Elaine, and Kramer, with no story. Assuming sitcoms have low standards, he joins the pitch as writer. After they reiterate the "show about nothing" repeatedly, Jerry is sold. Kramer opposes being written into the show unless he can play himself.
Kramer is unsympathetic when Newman complains that the defective radar detector got him pulled over for speeding. Newman warns him of karmic retribution.
George becomes cripplingly anxious after arriving at 30 Rockefeller Plaza. Jerry has an unwanted encounter with "Crazy" Joe Davola, a writer who is receiving psychiatric treatment from Reston. Perturbed by Davola's disjointed conversation, Jerry blabs about Kramer's party. Davola is surprised and offended that Kramer did not invite him.
In the meeting, George passes himself off as an off-off-Broadway writer. He boldly launches into pitching his "show about nothing", where "nothing happens", and shuts down Jerry's suggestions otherwise. The executives are skeptical, but George, carried away in defense of his "artistic integrity", walks out. Afterwards, Jerry excoriatingly questions George's sanity, but, even so humbled, George believes he has a chance romantically with one of the executives, Susan Ross.
In an amorous moment with Elaine, Reston's mind drifts to Davola's psychiatric medication. Jerry warns Kramer about Davola, alarming him.
Susan indeed meets up with George, but she does not get to tell Jerry she is supporting the pitch before Kramer, unknowingly drinking Jerry's expired milk, uncontrollably throws up on her. Even so, Jerry holds out hope for the TV deal.
The spiteful Davola surprises Kramer and kicks his head into the ground. Kramer survives thanks to his helmet, but Davola threatens to come after Jerry next.