A new documentary, You Can See Everything, offers an intimate portrayal of Elizabeth Holmes in the weeks leading up to her 11-year prison sentence for defrauding investors in her blood-testing company, Theranos. The film, directed by Nathan Fielder and Lance Oppenheim, captures Holmes in her home just 34 days before surrendering to prison, presenting a contrast to her former public image. Former Theranos employee Tyler Shultz, a whistleblower who contributed to the company’s downfall, has publicly criticized the documentary, alleging it was misled by Holmes’ portrayal of her technology.
Core developments in the story
Tyler Shultz, a former Theranos research engineer and grandson of the company’s board member George Shultz, stated in interviews that Holmes appeared ‘almost unrecognizable’ in the documentary, describing her demeanor as ‘a broken woman’ compared to her past confidence. Shultz, who worked with Theranos’ technology daily, claimed the device shown in the film ‘was not the device’ he had used, suggesting Holmes presented a different version to filmmakers.
In the documentary, Holmes’ longtime partner Billy Evans emerges as a central figure, portrayed as controlling and volatile. Evans, heir to a San Diego hotel fortune, is shown interrupting interviews, making demands about camera usage, and in one scene, brushing his teeth while naked in a shower with Fielder present. Evans also threatens vengeance against those he believes wronged Holmes, stating, ‘I’ve got vengeance in my heart.’ The couple has two children, aged 5 and 3, and Evans is raising them while pursuing his own biotech venture.
Reactions to the documentary
Shultz, who previously assisted The Wall Street Journal investigation into Theranos’ fraudulent claims, published an op-ed in STAT News arguing that the filmmakers may have been ‘misled’ by Holmes. He warned that directors Nathan Fielder and Lance Oppenheim fell into a ‘carefully curated trap’, echoing his earlier advice to New York Times reporter John Carreyrou during the initial investigation: ‘Do not underestimate Elizabeth Holmes.’ Shultz emphasized that Holmes’ ability to manipulate perception extended beyond the documentary’s three-hour runtime, having known her since he was 20 years old.
Background on the key figures
Elizabeth Holmes, 42, founded Theranos in 2003 at age 19, promising revolutionary blood-testing technology that required only a few drops of blood. The company collapsed in 2018 after investigations revealed its technology was inoperable, leading to fraud charges. Holmes was convicted in 2022 and began serving her sentence in November 2023.
Tyler Shultz, grandson of former U.S. Secretary of State George Shultz, worked at Theranos for eight months as a research engineer. He became a whistleblower after discovering the company’s technology did not function as claimed, contributing to the Wall Street Journal exposé that exposed the fraud.
Billy Evans, 34, comes from the Evans Hotel family, which owns properties in San Diego, including the Bahia Resort Hotel and the Lodge at Torrey Pines. Evans has stood by Holmes throughout her legal troubles and is now raising their two children while launching his own biotech venture.
Documentary’s portrayal of Evans draws attention
The film’s depiction of Evans has sparked discussion about his role in Holmes’ life and public perception. Scenes include Evans demanding cameras be turned off during an interview, taking over tasks such as whisking eggs, and making aggressive statements about protecting Holmes. These moments contrast with Holmes’ more subdued presence in the documentary, raising questions about power dynamics within their relationship. Evans’ family background and his pursuit of a new biotech career are also highlighted, suggesting a complex intersection of personal loyalty and professional ambition.
Ongoing fallout from Theranos collapse
The documentary arrives amid renewed scrutiny of Theranos’ legacy and the broader implications of Holmes’ case. The company’s fraud has been cited in discussions about regulatory oversight in biotech startups and the pressures of Silicon Valley’s ‘fake it till you make it’ culture. Legal experts continue to analyze the case as a cautionary tale about corporate deception and investor trust.
The film’s release has reignited debates about Holmes’ accountability, the effectiveness of whistleblower protections, and the ethical responsibilities of documentary filmmakers in portraying controversial figures.