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This series takes place in the same universe as Wild Palms, Strange Days, and Until the End of the World.
In 1999-2000, we have the events of Strange Days, revolving around a technology (SQUID) that records a person's subjective experiences as data. It was developed for military/intelligence use but is also sold like a drug on the black market. The device could easily have been from the same project as Dr. Farber's (see below). The setting of Los Angeles and presumably the rest of the US is shown to be verging on anarchic.
The same time frame, we also have the events of Until the End of the World, in which society is shown to be falling apart due to the impending threat of a nuclear satellite crash. The film also revolves around a similar technology as SQUID (recording and play back dreams and memories), possibly part of the same government project. What we saw of the United States in UTEOTW was anarchic and violent, much like the setting of Strange Days.
In 2007-2008, we have the events of Wild Palms, in which virtual reality was crucial to the antagonist's plans. It's easy to think of Wild Palm's late 2000's as an America that has finally relaxed from the anarchic violence that characterized the turn of the century. Edwardian fashions and sixties music has been revived as well, sort of like the neo-classical look of some of the technology in UTEOTW.
Sometime later in the 21st century, the "relaxed" North America of Wild Palms has degenerated into the setting of this cyberpunk series. Max Headroom, the title character of the show, was a computer generated person based on the mind of news reporter Edison Carter. Again, similar technology is the focus of this installment in the Wild Palms/StrangeDays/MaxHeadroom universe.