The time dilation excelerator that the Kingpin lost winds up in the hands of a small time con man who tries to pass it as tv remote only to open the same time portals the Spot had just closed. Meanwhile Mary Jane tells Peter that it might be dangerous to be together listing the incidents with Venom Baron Mordo and especially Hydro-Man MJ feels it isn't safe for Peter to be around her but Peter calms her and tells her he will always love her. Then Peter sees the time portal and knowing that Tony Stark has shut down that field wonders how it has returned he swings to the same store that the con man brought the remote and it turns out it's still there only for Hobgoblin to return and prevent him from taking it while Spider-Man tries to stop Hobgoblin escaping he fails. Later the Hobgoblin robs a bank but the portal accidentally cuts a small part of his cape realizing that could have been his arm or leg he realizes that it's running out of power but he knows where there's more. Later at the Kingpin's headquarters Hobgoblin meets with one of his spies warning him what will happen if the Kingpin finds out.
This episode provides examples of:
- Continuity Nod: The Kingpin apologizes to Peter for the trouble he went through with being framed as a traitor to America, which happened a month prior.
- Foreshadowing: When Peter approaches Jason and Felicia, his spider sense goes off. When the Kingpin approaches him Peter believes "he" is what caused his spider sense to go off, but actually this is the first sign that Jason is the Hobgoblin.
- Karma Houdini Warranty: After spending most of the show avoiding the consequences of his crimes, the Hobgoblin, has his identity revealed as Jason and is arrested at the end of the episode.
- Mythology Gag: As Felicia cries over the reveal that her fiancé Jason was the Hobgoblin and never truly loved her, she says to Spider-Man that something bad always happens to anyone she loves and gets close to, calling herself a black cat. This alludes to Felicia's persona in the comics, the Black Cat, as well as foreshadowing how she will become Black Cat next season.
- Take That!: The producer of the show reportedly disliked the Hobgoblin as a character. When the Hobgoblin and Green Goblin finally clash in this episode, the latter refers to the former as an impostor and the Green Goblin is depicted as easily being the Hobgoblin's superior in terms of weaponry and power.
- This Is Unforgivable!: Harry makes a scene that he'll never forgive Peter for "stealing his girlfriend" and claims to no longer be his friend over it. Mary Jane goes to talk to Harry herself over this, saying he needs to accept the fact she's not his girlfriend anymore.
