Ziegfeld tries to make a star out of Audrey Dane, who is plagued with alcoholism, and he lures Fanny Brice from vaudeville, showering both with lavish gifts.
Ziegfeld forsøger at lave en stjerne ud af alkoholikeren Audrey Dane og han lokker Fanny Brice væk fra vaudeville; overdynger begge med overdådige gaver.