Elizabeth Holmes Film Stirs Oscar Talk as Public Fascination Endures

A new documentary on Elizabeth Holmes, the jailed Theranos founder, is one of the most talked-about films of the year. “You Can See Everything” premiered at the New York Film Festival two weeks ago. Queues for standby tickets stretched around the block.

Critics have praised it warmly, and some have called it a masterpiece. There is even talk of a best picture nomination. No documentary has ever earned one.

A film that began with curiosity

Comedian Nathan Fielder says he never planned to make a film about Holmes. He simply wanted to meet her. Lance Oppenheim, who directed “Primetime,” joined him as co-director.

Holmes had been approaching film companies herself. She spoke to A24, which then arranged a meeting with the two directors.

She gave them close access. The crew followed her, her partner Billy Evans and their two young children. Filming ran until the day she reported to prison.

Fielder was surprised she agreed. He is best known for offbeat shows such as “Nathan For You” and “The Rehearsal.” In the film, he asks why she picked him. She has no real answer and admits she had barely seen his work.

Holmes tells her story, and Fielder reacts

The film shows a very different Holmes from the one on the Fortune cover. The red lipstick and black turtleneck are gone. Instead, viewers see her barefoot, rocking her baby as she talks.

Her stare is as unblinking as ever, though. She says she never lied, that her device worked and that the public has treated her unfairly. At one point, she cries.

Fielder is on camera throughout. His puzzled looks undercut her claims, and the audience at the premiere laughed often. He asks if she has truly never lied. She says no.

Fielder says he found her genuine at first. He had to remind himself that she was a convicted fraudster. The film puts viewers in the same uneasy position.

The twist halfway through

Midway, the film changes direction. With Holmes now in prison, Fielder brings in another person. Without giving too much away, this new voice asks the questions many viewers are thinking.

Could her denials be real? Is it all an act? Is Fielder himself under her spell?

The film does not answer. It offers two readings instead. Fielder suggests she may be the most manipulative person ever. Someone else says she may simply be deluded.

How the fall happened

Holmes once seemed the future of Silicon Valley. By 2014, she was hailed as a self-made billionaire. Her company, Theranos, claimed its device could detect illness from a single drop of blood.

Then the story collapsed. The device did not work and sometimes gave wrong results. A court convicted her of defrauding investors, and she entered federal prison in May 2023.

Her story has already inspired a documentary, “The Inventor,” and a podcast and TV series, both called “The Dropout.” Amanda Seyfried won an Emmy for playing her.

Her story keeps its grip for several reasons. Because the firm dealt with health, its failures felt personal. Public distrust of big tech has also grown. Today, Holmes stands for danger and overreach rather than promise.

What comes next for Holmes

She is due to move to a halfway house next year. Her release is set for 2030. Major news outlets covered the planned move as if she were a film star.

Holmes also remains active on X. A pinned post says she is fighting to prove her innocence and return to her children and partner.

Fielder says he still struggles to understand what he went through. Oppenheim says filming left him in a daily state of “cognitive dissonance.” Even the crew read her differently.

In the end, the film shows a convicted criminal calmly insisting her crimes never happened. That denial keeps her at the centre of public attention.