A24 dropped the full trailer for You Can See Everything, a documentary about convicted Theranos fraudster Elizabeth Holmes, a film made in secret over four years that critics are already calling unlike anything they expected.
Directors Nathan Fielder and Lance Oppenheim spent four years quietly building the project before surprising audiences with a world premiere at the Telluride Film Festival. The trailer, released Wednesday, gives the public its first extended look at a film that promises Holmes a platform to tell her side of the Theranos story, from behind the walls of a federal prison, where she is serving an 11-year sentence for fraud.
The documentary arrives at a moment when Holmes remains one of the most recognizable symbols of Silicon Valley's worst instincts: big promises, fake technology, and billions of dollars in investor money vaporized by a founder who told the world she could run hundreds of medical tests from a single drop of blood. She couldn't. Theranos, the company she founded in 2003, reached a $9 billion valuation before collapsing. It dissolved in 2018.
Fielder is best known for his comedy work on Nathan for You and The Rehearsal, projects built on blurring the line between sincerity and performance. That sensibility appears to run through You Can See Everything. The Hollywood Reporter noted that Holmes and her partner, Billy Evans, continuously professed her innocence before she reported to prison, a claim the jury that convicted her plainly rejected.
Holmes is now locked up and, as the film apparently confronts head-on, unable to speak for herself at any real length or depth. Control of her story has slipped out of her hands again.
That tension, between a subject who insists she did nothing wrong and a legal system that says otherwise, sits at the center of the documentary. It is also the tension that made Holmes a cultural fixation in the first place. She built a $9 billion company on a device called the Edison that could never reliably do what she said it could. Investors, board members, and patients paid the price. Holmes got 11 years.
Holmes has been approved for a halfway house transfer despite still owing $452 million in restitution, a detail that underlines how far the gap stretches between the consequences she faces and the damage she left behind.
The documentary premiered as a surprise entry at Telluride, and early critical response has been strong. Hollywood Reporter critic Angie Han, writing from the festival, called the film something far stranger and more ambitious than a standard fraud recap.
Han wrote:
"What begins as a fascinatingly intimate portrait of a deluded or disingenuous scammer reveals as something even wilder, more ambitious and less predictable, until we're left to ponder what value a personal truth has at all."
She added that the film's structural surprises were so sharp she didn't want to spoil them. But she offered a broad sketch: the documentary turns "excitingly meta and almost surreal" in dealing with the fact that Holmes sits in a federal prison cell and cannot shape her own narrative. In her absence, Han wrote, "the void gets filled by other means."
That description suggests Fielder and Oppenheim built something closer to a philosophical puzzle than a conventional true-crime documentary. Whether that approach serves accountability or muddies it remains an open question.
Even as the film nears release, Holmes remains behind bars, a fact the filmmakers reportedly treat not as a footnote but as a central structural problem the documentary must solve.
After Telluride, You Can See Everything heads to the New York Film Festival, where it joined the Spotlight Lineup and is set to debut Sept. 30. A24 scheduled the wider theatrical release for Oct. 16.
The release calendar places the Holmes documentary squarely in the fall prestige corridor, alongside a slate of films competing for awards-season attention. It is one of the more notable entries on the fall schedule.
Holmes, meanwhile, has drawn scrutiny for reportedly promoting the documentary from federal prison, raising questions about how much access and influence she still wields from behind bars.
The Theranos saga has already generated books, podcasts, a Hulu series, and an HBO documentary. What Fielder and Oppenheim appear to have done differently is hand the camera to Holmes herself, or at least let her believe they did, before the prison doors closed. Holmes invited the cameras in, and now A24 is releasing what they captured.
A convicted fraudster who lied about blood tests, lied to investors, and lied to patients now gets a prestige documentary where she can profess her innocence to a national audience. The justice system already weighed her story and handed down 11 years. Viewers can decide for themselves whether a second hearing was warranted, or whether some people just never stop selling.
