Everything We Know About This Elizabeth Holmes Documentary From A24 and Nathan Fielder

A small group of festival-goers and critics got a sneak-preview screening Sunday night at the Telluride Film Festival of Nathan Fielder and Lance Oppenheim's top-secret Elizabeth Holmes documentary You Can See Everything. A teaser trailer was also posted, and social platforms were immediately abuzz. Here's what we know.

Warning: Spoilers to come about the documentary, in case you'd rather be surprised.

We've been mostly rid of Elizabeth Holmes and her unsettling, unblinking stare these past couple years as she's settled into prison life in Bryan, Texas. (With a reduction for good behavior, she's still likely not getting out until 2032.) But, true to form, Holmes has managed keep herself sporadically in the press, and any instinct she had to lie low was apparently overridden by a desire to tell her truth and maybe shift the court of public opinion, after she repeatedly ran up against walls in the actual courts as she tried to delay her sentence and appeal her conviction.

We saw her doing this in the weeks leading up to her reporting date at FPC Bryan in May 2023, granting an interview to the New York Times in which she introduced the world to her newborn daughter Invicta, from the comfort of a rented home outside San Diego where she was living with partner and baby daddy Billy Evans, and her then almost-two-year-old son, named William Holmes Evans.

Interviewer Amy Chozick said that while she was "taken... and taken in" by Holmes, who was going by Liz as of 2023, she knew better than to believe most of what she said. That included Holmes's take on the Amanda Seyfried portrayal of her in The Dropout, and other portrayals, to which she said, "They’re not playing me. They’re playing a character I created."

Holmes would subsequently give access to People Magazine, who put her on the cover in February 2025, with a profile in which she continued to defend herself against her fraud conviction, and to describe her life in prison, with Evans reportedly bringing the kids to see her twice a week while living in Austin.

In that interview she said things like "People who have never met me believe so strongly about me. They don’t understand who I am. It forces you to spend a lot of time questioning belief and hoping the truth will prevail."

But the new film by Fielder and Oppenheim appears to take a hard and highly skeptical look at Holmes and everything she believes about herself, as well as whatever we can know about her and her motivations. The teaser trailer has Fielder, who can be almost equally intense in his interview style as she is in her personality, essentially staring her down as she says, "I'm not that person, I can promise you that. I don't have anything to deceive you on, of course I'm not deceiving you."

Fielder explained to the Telluride audience, per the New York Times, that he had no intention of being on camera in this film, but that his experiences talking with Holmes and Evans in their Del Mar home were so bizarre and intriguing, that he ended up putting himself in front of the camera.

"I’m really struggling to this day to understand what I experienced,” Fielder said. “I’m excited for this movie to come out and for people to help me with what I experienced."

He added, per the Times, "We are all smart, operating at the top of our game yet no one could reach a consensus on what was happening in the house. That drove us to keep going."

Fielder and Oppenheim apparently told everyone at Telluride to keep secret what they'd seen — it's unclear if there was any formal embargo for press in attendance — but veteran critic Owen Gleiberman has nonetheless already written a full review for Variety that is full of spoilers about the surprises the film has in store.

These include a sequence in which Fielder sits Holmes and Evans down to watch the classic Abbott and Costello routine "Who's on First?" It's an exercise in the use of language and the dual meaning of words, and it's one Holmes is apparently genuinely baffled by. Per Gleiberman, "It’s that she’s got the malignant narcissist’s need to have words mean only what she decrees them to mean. She can’t hear any other meaning."

As he adds, regarding Theranos' infamously non-working blood-testing device "Edison," "Hence: her device did 'work,' and still does (it can run any test!)... This is a highly rarefied level of delusional thinking." Holmes apparently insists that, if only some chemical processes could be invented that don't yet exist, Edison would have worked just fine. And, this offers some explanation for the jaw-dropping news of last year that Evans had launched a new startup peddling a very Edison-like device that would be able to perform blood tests for pets — even though Holmes is court-ordered not to be involved in any such business for ten years.

Gleiberman also spares no criticism of Evans, whom he calls a "glowering aggro control freak" in the film and "repugnant in his cockiness" — which provides some explanation for his insistence on maintaining Holmes's X account while she's behind bars. He even appears to have tweeted back, sort of creepily, at A24 when they posted the teaser trailer, saying, as Holmes, "Might as well tag me" with a face-melting emoji.

And, in true Fielder fashion, the whole film reportedly gets very meta after he sits with Holmes and Evans to watch The Dropout together, and then calls in Seyfried herself, halfway into the 174-minute documentary, to dramatize moments in Holmes's contemporary life, and to re-enact phone calls she has, while in prison.

In Gleiberman/Variety's opinion, "You Can See Everything overlaps reality, performance, deception, and mental illness until it brings you into the enigmatic space where all those things meet."

We can hardly wait for the full trailer to drop, which is likely happening soon — now that A24 essentially broke the internet Sunday night with the teaser.

And the film will reportedly be hitting theaters at a still unspecified date in October. As Vulture puts it, regarding the Spooky Season release, "Holmes’s unblinking stare is enough to make it an honorary horror movie."

Related: Bizarrely, Elizabeth Holmes's Baby Daddy Is Launching a Blood-Testing Startup