After having a shocking vision of the future, Julia Carpenter collapses on the subway station. Suddenly, the paramedics arrive to take her to the hospital.

Meanwhile, Peter has been taken to Shadowland, and the Hobgoblin introduces him to the Kingpin as "Spider-Man's best friend." The Hobgoblin tells the Kingpin that Peter works at Horizon Labs and he is also Spider-Man's tech supplier. Therefore, their plan is to use him as a hostage so that Spider-Man delivers the package he took from them.

Peter realizes that the package Kingpin is talking about is the mysterious briefcase he took last night. He also discovers that Tiberius Stone, his co-worker from Horizon, is working for them. Tiberius stole plans for a special jammer that disrupts Peter's spider-sense.

The Kingpin interrogates Peter, demanding that he call Spider-Man. Peter says that the jammer has accelerated Spider-Man's spider-sense, making him aware to the tiniest threat. Therefore, Peter's signal can't get through, so the Kingpin will have to turn the jammer off, but the Kingpin refuses. The Hobgoblin says that he can record a hostage video with his drone.

Meanwhile, Roderick Kingsley goes to Phil Urich's apartment and goes through his stuff. He finds Phil's Hobgoblin gear and pictures of Norah Winters. He deduces Phil has been using the bat-drone to spy Norah. Then, Roderick puts on the Hobgoblin suit.

At Horizon, Modell gets the hostage video and decides to help Peter. Going to Peter's office, he opens Peter's closet with his "all access" key. Amazed by the amount of gear Peter has prepared for Spider-Man, Modell obtains the briefcase.

Julia has been taken to the Columbia University Medical Center. There, the doctors cannot identify her, as the skin in her fingerprints has been sanded a long time ago. Also, she used an untraceable cellphone to call for an ambulance. According to witnesses, Julia's words before collapsing were "His future will end in a flash of gold."

Meanwhile, the last Octobot returns to New York.

Modell arrives at Shadowland to deliver the briefcase. Knowing that Modell is in danger, Peter slowly unties his restraints. One of the Hand ninjas opens the case and gets killed, as the briefcase was booby-trapped. The briefcase contains the Goblin Key, which will allow its wielder to obtain access to all the assets Norman Osborn obtains as head of national security.

In that moment, Kingsley attacks Shadowland, wanting the key. Revealing his identity to Phil, Kingsley says that the man Phil killed to become the Hobgoblin was his brother. However, he doesn't mind that. He is angry because someone stole his brand. The two Hobgoblin begin to fight.

Modell tries to help Peter, saying that while he did not bring the police or the Avengers, he brought Spider-Man's web-shooters. Saying that he practiced with them during the testing phase, Peter puts the web-shooters on. While the Hobgoblins fight, Peter shoots a web on one of their gliders, causing both to fall to the ground and break the jammer. Modell also spots Tiberius.

With his spider-sense restored, Peter takes the key and gives it to Max. The two make their escape while Phil and Kingsley agree to a temporary truce so they can recover the key.