The narrative unfolds in the chaotic backdrop of Moscow during the Yeltsin era in the early 1990s, a time characterized by overwhelming disorder and corruption. The story revolves around Babylen Tatarsky, a graduate student and aspiring poet, who finds himself homeless following the collapse of the Soviet Union. Faced with this new reality, he discovers his unexpected vocation in creating Russian versions of Western advertisements. While his career as a copywriter flourishes, Tatarsky grapples with the increasing materialism and self-indulgence that defines contemporary culture. His journey is not merely about professional success; it is a profound quest for meaning in a society that seems to have lost its way.
As he delves deeper into this new world, Tatarsky begins to notice unusual coincidences that point to patterns, suggesting a deeper significance amidst the confusion of modern life. His intrigue leads him to explore historical contexts, where he finds initial insights through the lens of Mesopotamian religious practices. Enhanced by the use of hallucinogenic substances such as mushrooms, cocaine, and vodka, his search for answers takes on a surreal dimension. Moreover, Tatarsky's discovery journey is intriguingly embellished when he uses a ouija board, allegedly channeling Che Guevara, who comments on various themes including identity, consumerism, and the pervasive influence of television.
In his pursuit of understanding, Tatarsky begins to uncover profound revelations, such as the realization that much of what is presented as reality on television and in politics is merely a fabrication. However, the ultimate truth behind these constructs eludes him. As he ascends to the pinnacle of the advertising world, he learns that his colleagues serve an enigmatic entity: the goddess Ishtar, whose existence is intertwined with the vast array of advertising imagery. The principal task of their firm is to maintain vigilance against Ishtar’s adversary, the dog Phukkup, whose awakening threatens to unleash chaos and turmoil.
After a significant ritual sacrifice, Tatarsky inadvertently becomes Ishtar's new regent, assuming the role of her 3-D counterpart and bridegroom. The summation of Tatarsky's transformation is poignant; in the final chapter, his digital double manifests as a dominant force on Russian television. Ironically, Tatarsky—who initially sought to pierce through the veil of falsehoods perpetuated by media to find a genuine reality—ultimately metamorphoses into an illusion himself.
In the epilogue, it is revealed that the "P" in Generation P signifies "Generation Pizdets," a term that translates roughly to "Generation Screwed," encapsulating the disillusionment of a generation caught in the grip of commercialism and disarray.