Nathan Fielder and Lance Oppenheim’s You Can See Everything reignites conversations about Elizabeth Holmes, the Theranos founder convicted in early 2022. The documentary premiered on September 6, 2026, at the 53rd Telluride Film Festival, where it was dubbed a secret screening. Thereafter, A24 announced that the film will hit theaters in October, releasing an official teaser trailer and synopsis.
The secrecy surrounding the film’s production and its premiere has piqued moviegoers’ interest in its premise. While the official synopsis divulges that it follows the Theranos founder for weeks before her incarceration, it teases an intriguing premise, promising that what began “as an intimate portrait of an enigmatic felon” devolved into “a mind-bending three-year journey into the abyss.” This has sparked renewed inquiry into Elizabeth Holmes’ crimes. What exactly did she do?
The Elizabeth Holmes Theranos Scandal Explained
YOU CAN SEE EVERYTHING, a documentary by Nathan Fielder and Lance Oppenheim. Featuring Elizabeth Holmes. Only in theaters this October. pic.twitter.com/b3Pcx0Se2o
— A24 (@A24) September 7, 2026
Elizabeth Holmes was a 19-year-old student at Stanford University when she founded Theranos in 2003. The company set out on a brilliant mission to develop technologies that fast-track laboratory tests. With Holmes’ charm and the influence of prominent figures, Theranos quickly grew into a renowned venture for what was widely regarded as a breakthrough technology in the health care industry.
The Washington native claimed that Theranos’ technology could instantly test for multiple medical conditions with only a drop of blood. As such, the company raised over $700 million from investors and was valued at $9 billion before it all came crashing down. Theranos’ unravelling began in 2015, after investigators revealed that the company barely repurposed existing blood analysis technology to require smaller blood samples.
Theranos’ technology delivered erroneous test results, which the company hid from the public while faking its association with major drugmakers and inflating its revenues. Beyond misleading investors, the company’s actions affected patients, who were misdiagnosed because of the machine’s erroneous results. As investigators continued digging into the validity of the company’s technology, Theranos found itself grappling with multiple legal actions and sanctions. The company struggled to regain its footing and eventually packed up in September 2018.
What Happened To The Theranos Founder After The Company Collapsed?
No mother should have to explain to her child she was charged and convicted of something she didn’t do. pic.twitter.com/v9oThczntw
— Elizabeth Holmes (@ElizabethHolmes) November 15, 2025
Months before Theranos officially ended its operations in 2018, the US Securities and Exchange Commission (SEC) filed a lawsuit against Elizabeth Holmes and Theranos’ former president Ramesh “Sunny” Balwani. The commission alleged that the duo orchestrated an elaborate fraud to raise over $700 million from investors. Holmes settled out of court, agreeing to pay a $500,000 penalty. She also surrendered her voting control of the company and received a 10-year prohibition from leading any public company.
Apart from the SEC lawsuit, a federal grand jury indicted the pair in June 2018 after a lengthy investigation. The indictment alleged they perpetrated multi-million-dollar schemes to defraud investors. Holmes and Balwani were charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. They both pleaded not guilty, with Holmes building her defense on allegations against Balwani.
She blamed the former Theranos president and chief operating officer for mismanaging the company, claiming that she was subservient to Balwani, who was also her romantic partner. Per her testimony, he lied to her about Theranos’ financial models and subjected her to emotional and physical abuse. While Balwani was found guilty on all counts, Holmes was convicted on only four counts.
Where Is Elizabeth Holmes Now?
This is what I fight for.
– 3 days before I reported to prison , I spoke to Wills while he slept.
– I didn’t want to miss a minute I had with him. I was with him while he slept, when he was awake.
– I can’t wait to be there for him every moment of every day.
I want to be a mom.… pic.twitter.com/I5f4Mp05Wl— Elizabeth Holmes (@ElizabethHolmes) October 27, 2025
Following their separate trials, Elizabeth Holmes’ former partner was sentenced to nearly 13 years (155 months) in federal prison. That was in December 2022. He began serving the sentence in April 2023 at the Federal Correctional Institution Terminal Island in San Pedro, California. The Theranos founder was sentenced in November 2022 to 135 months (11 years, 3 months) in federal prison. She also received three years of supervision following her release from prison.
Elizabeth Holmes unsuccessfully appealed her conviction in April 2023 and began serving her sentence the following month at Federal Prison Camp Bryan in Texas. She began lobbying for a presidential pardon in late 2025, roughly three months before a year was chipped off her sentence in March 2026. A federal court reduced her sentence from 135 months to 123 months after failing to find evidence that the investors she defrauded were suffering hardship. She’s still in prison, but is expected to regain her freedom in December 2031. Check out the unsettling details Netflix left out in Trust Me: The False Prophet.
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