Elizabeth Holmes, the Theranos founder whose Silicon Valley rise ended in a high-profile fraud conviction, is the focus of a newly revealed documentary that made its debut at a secret Telluride Film Festival screening.
The film, titled You Can See Everything, is backed by A24 and directed by Nathan Fielder and Lance Oppenheim. It was introduced during Telluride’s annual Sunday TBA event, a mystery screening held each year at the Colorado festival.
According to the documentary’s logline, Holmes, 42, allowed cameras inside her home just 34 days before she began serving an 11-year prison sentence.
Holmes was convicted in 2022 on four counts of fraud after prosecutors said she raised hundreds of millions of dollars from investors by misrepresenting the capabilities of Theranos’ blood-testing technology.
Theranos had claimed its devices could run hundreds of medical tests from a single finger-prick drop of blood, a promise that helped fuel the company’s meteoric valuation before investigative reporting by The Wall Street Journal exposed deep problems behind the scenes.
Speculation had circulated for years that Fielder was speaking with Holmes for a project, though details remained closely guarded until the Telluride unveiling.
Security around the premiere underscored the secrecy: audience members were required to surrender their cellphones before the film was shown at the Herzog Theatre.
Now that the long-rumored documentary has surfaced, A24 has released a disquieting trailer, giving the public its first look at the closely protected project.
Elizabeth Holmes, the founder and former CEO of the disgraced biotech company Theranos, 42, welcomed a film crew into her home 34 days before she was sent to prison
The documentary You Can See Everything, directed by Nathan Fielder (pictured) and Lance Oppenheim, was unveiled at the Telluride Film Festival’s Sunday TBA, a secret screening held each year in Colorado
Fielder and Holmes face each other for roughly a minute as they discuss whether she is being genuine while staring deeply into each other’s eyes.
‘I don’t have anything to deceive you on,’ Holmes tells the director.
‘Of course I’m not deceiving you. I’m engaging with you as a human being. Why would I deceive you? There’s no reason for me to do that.’
‘OK. All right. OK, good chat,’ Fielder replies. ‘You’re being real right now?’
‘I’m always being real,’ Holmes answers.
The fraudster reposted the trailer on X, adding that she is ‘always being real.’
The documentary’s reveal comes after Holmes began making pro-Trump and pro-Make America Healthy Again (MAHA) posts on X in August of 2025, marking a striking shift from the political views and public persona she previously projected on the platform.
Before resuming activity on X, Holmes’s account had been inactive since 2015. At the time, she frequently posted about prominent women including Rosa Parks, Marie Curie, Melinda Gates and Margaret Thatcher.
In 2016, the convicted fraudster hosted a high-profile fundraiser for Hillary Clinton at Theranos’ Palo Alto headquarters during Clinton’s presidential campaign against Donald Trump.
But starting in 2025, in a political landscape vastly different from a decade ago, Holmes appeared to court Trump supporters through her online posts.
An unsettling trailer was released on Sunday showing Fielder and Holmes face each other for roughly a minute as they discuss whether she is being genuine while staring deeply into each other’s eyes
In 2022, Holmes was convicted on four counts of fraud for raising hundreds of millions of dollars by misleading investors about the technology behind her healthcare startup. She is pictured at serving her 11-year sentence at a prison in Texas
In November of that year, she shared a Politico article about MAHA ’embracing’ her and wrote: ‘I have been working to Make America Healthy Again since 2004.
‘I will continue to dedicate my life to improving healthcare in this beautiful country I call home. I don’t know if MAHA is embracing me, but I support its cause: healthier Americans.’
In October of 2025, as the Trump administration increased pressure on Venezuela, she replied to a post about an attack on a drug-smuggling vessel, writing: ‘How long until people claim it was a submersible fishing boat?’
In September, she replied to a post showing President Trump and Elon Musk sitting next to each other after their public falling out. ‘Time to come together,’ she wrote.
According to the US Department of Justice’s Office of the Pardon Attorney, Holmes sought a commutation of her sentence sometime in 2025. On the justice department’s website, her request is listed as pending.
In criminal court, Holmes was convicted of wire fraud totaling more than $140 million and sentenced to a little more than 11 years in prison, according to the Department of Justice.
In civil court, she was charged with defrauding investors out of $700 million by the Securities and Exchange Commission.
Holmes is currently held in the minimal-security prison, Federal Prison Camp, Bryan, in Texas
Join the discussion
Should Elizabeth Holmes get a second chance, or does her crime mean she deserves to stay in prison?
Holmes’s posts and her request for a commutation could be viewed as an effort to secure an early release from the Federal Prison Camp in Bryan, Texas, after she lost an appeal of her conviction in May.
Her only options for release before December 30, 2031, are now a favorable decision from the Supreme Court in a final appeal, which experts say is unlikely, or a successful clemency plea to the Trump administration.
Holmes’ strategy is not illogical, as Trump has pardoned or commuted the sentences of dozens of white-collar criminals who were convicted of fraud.
The Department of Justice’s website lists 114 people who were granted clemency by the president since the start of his second term.
Of those who were pardoned or received commuted sentences, 34 were convicted of various kinds of fraud.
