NATHAN FIELDER, codirector of the Elizabeth Holmes documentary 'You Can See Everything,' recently gave his first extended interview on the film, which examines how a blood-testing startup attracted over $900 million from prominent investors including Rupert Murdoch and Betsy DeVos—then collapsed under the weight of its own deception.
Theranos once commanded a private valuation of $9 billion on the promise of its Edison device, which the company claimed could perform a wide array of tests from a single drop of blood. The pitch was elegant. The technology was fake.
Investigative reports in 2015 exposed the core problem: Theranos was running most tests on modified commercial machines, not its proprietary devices. The company had misrepresented its technical capabilities and operational maturity to investors and partners.
Elizabeth Holmes, founder and former CEO, was convicted in January 2022 on four counts of investor fraud and conspiracy. She began serving an 11-year prison sentence in May 2023.
'You Can See Everything' examines how the deception was constructed and maintained—and what it reveals about venture capital's due diligence processes. The film explores the gap between startup narrative and technical reality, a gap that venture investors failed to close despite the stakes.
