Full story
The series tells a different version of Spider-Man's origin. Peter Parker is at freshman orientation in Queens when Doctor Strange shows up fighting an alien creature. In the chaos, a spider drops out of a portal and bites Peter. He gets his powers, has recently lost Uncle Ben and is trying to support Aunt May, who is still grieving.
The big change is the mentor. Instead of Tony Stark, the man who crosses Peter's path is Norman Osborn. Norman quickly figures out who's behind the mask and offers a partnership: an internship at Oscorp alongside other young geniuses, plus help with suits and gear. Peter says no at first but eventually signs on. Norman's son Harry Osborn becomes his friend and his guy in the chair, which strains Harry's friendship with Nico Minoru. Later Harry lets the secret slip to Nico, and she pulls away from Peter.
Running alongside is the story of Lonnie Lincoln, Peter's classmate. To protect his brother, Lonnie joins Big Donovan's 110th Street gang and sinks deeper into crime until he earns the name Tombstone. Meanwhile, scientist Otto Octavius sells advanced weapons on the black market and arms criminals like Mac Gargan, who becomes the Scorpion. Peter also runs into Daredevil, who breaks into Oscorp convinced that Norman is hiding something.
In the home stretch, Gargan nearly kills Peter, and Norman sends a glider to rescue him. Peter goes through a crisis, gets the red and blue suit from Harry and faces the Scorpion again. He almost kills Gargan, and it's Lonnie who stops him. Lonnie tries to rebuild the gang his own way, Pearl breaks up with him and a mysterious gas gives him superhuman strength. Otto ends up in prison.
In the last episode, Norman switches on Project Monolith, a portal to space built with the interns' help. On the other side is a planet of symbiotes. Peter and Doctor Strange shut the portal, and Strange explains the paradox: the spider that bit Peter came from Oscorp, was made with Peter's own blood and traveled back in time through the portal. Harry founds his own group of young inventors, W.E.B. But Norman keeps a piece of the symbiote, and Aunt May visits a prisoner: Richard Parker, Peter's father, alive.