‘You Can See Everything’: This Is Not a Documentary

R | 2h 54m | Drama, Mystery, Thriller, Crime | 2026

Elizabeth Holmes was already the subject of a 2022, eight-part Hulu miniseries based on the 2019 podcast (“The Dropout”), the 2019 HBO documentary “The Inventor: Out For Blood in Silicon Valley,” and numerous TV profiles. The interest in the life of convicted felon Holmes has only increased since her self-imposed 2016 radio silence.

Generally with white collar (or in this case, black turtleneck) fraudsters, public curiosity about them generally wanes after a couple years. But Holmes has made sure this doesn’t happen to her. To that end, this past weekend sees the wide release of “You Can See Everything” (“Everything”), a nearly three-hour long concoction that is being billed as a “documentary.” In reality it’s a hybrid production that practically defies categorization.

Define Documentary

Here’s the most basic definition of documentary: “A nonfiction motion picture intended to document reality, primarily for instruction, education, or maintaining a historical record.” While “Everything” starts and ends with these elements, it takes a wild detour just before the halfway point that adds docudrama and straight-up live action.

For those not aware of Holmes, she founded a company called “Theranos” (itself a hybrid of the words “therapy” and “diagnosis”) in 2003. In theory, the device Holmes created (dubbed “The Edison”) could identify over 200 blood-related diseases using only a single drop of blood.

By 2015, Holmes, through convincing scientific jargon and snake oil charm, convinced enough wealthy and influential people to invest in her company. In the process she became the youngest self-made female billionaire (of nine to be exact) in history.

Fall From Grace

Within the next year the device was debunked and her net worth dropped to less than zero. In 2022, she was convicted of fraud and sentenced to 11 years in prison.

Since being charged and up to the present day, Holmes has maintained her innocence. She hired the directing team of Lance Oppenheim and podcaster Nathan Fielder to chronicle her story.

Filming began 34 days shy of the start of her incarceration at a minimum security prison in Bryan, Texas. Holmes and her current romantic and business partner, Billy Evans, invited the filmmakers to a beach home they were renting in Southern California.

The purpose was to provide an initially limited record to Holmes’s life; this ultimately became an emotional and mental breakdown in full view.

Out of Options

In theory, the movie was going to put her on record by proving she never defrauded or lied to anyone. Slowly but surely, this perspective started working on Fielder. How this was going to help her save her reputation is something only Holmes and Evans had envisioned. At the end of the 34 days, with all appeals and delays exhausted, she reported to prison.

All of this takes place before the 75-minute mark. Fielder, who by this point has become part of the story, sets about clouding the issue further by hiring Amanda Seyfried (as Holmes) and Christopher Abbott (as Evans) to “reenact” scenes that Evans censored, providing information that Evans didn’t want out.

The irony here is beyond the pale, since Seyfried won both a Primetime Emmy and Golden Globe Award for portraying Holmes in “The Dropout.” While some of this material is very convincing, most of it is not. But all of it is tainted—it’s conjecture.

Does this mean the movie is a scam? Probably, but it’s also worth watching merely for the chance to witness the out-and-out hubris on the parts of all involved. It’s like slowing down on an unimpeded highway to catch a glimpse of the accident on the other side of the road. It’s also an unintended comedy and highly effective cautionary tale. Think of it as another in a glut of “true crime” shows currently littering premium cable.

Unintended Fallout

Heralded by most critics as the “best documentary” (and “best picture”) of 2026, significant tinkering with the narrative might have some unintended fallout—like not receiving nominations in either of those categories (if early industry scuttlebutt proves correct).

What it does seem almost sure to do is snag a Best Supporting Actress Oscar nomination for Seyfried, an absolute acknowledgement that this is not a documentary.

This exact thing happened to previous documentaries “The Thin Blue Line” and “Crumb.” The augmentation of live action into a documentary made those films ineligible by the very stringent and finicky Oscar documentary nominating committee.

Is it worth your time and money? Absolutely, but for all of the wrong reasons.

The movie is now playing in theaters.

‘You Can See Everything’
Directors: Lance Oppenheim, Nathan Fielder
Starring: Elizabeth Holmes, Billy Evans, Amanda Seyfried, Christopher Abbott
Running Time: 2 hours, 54 minutes
MPAA Rating: R
Release Date: Oct. 16, 2026
Rating: 3 1/2 out of 5 stars

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