Elizabeth Holmes, the former Silicon Valley star who was convicted of fraud for misleading investors about her blood-testing company Theranos, is currently serving a federal prison sentence. Her story has returned to the spotlight with the surprise release of a new documentary called “You Can See Everything,” which premiered at the Telluride Film Festival on September 6, 2026. The documentary, directed by comedian Nathan Fielder and filmmaker Lance Oppenheim, was made in secret over three years and is set for a theatrical release in October 2026.
Elizabeth Holmes is serving time at a minimum-security prison in Texas
Holmes is currently locked up at Federal Prison Camp Bryan, a minimum-security federal prison in Bryan, Texas. She reported to the facility on May 30, 2023, after losing multiple appeals to stay out of prison. Her original sentence was 11 years and three months. In March 2026, a federal judge trimmed her term by 12 months under retroactive sentencing guidelines for first-time offenders, reducing it to 123 months.
According to the Federal Bureau of Prisons, her projected release date is December 30, 2031. However, factoring in standard federal good-conduct credits, some reports suggest her release could come between 2032 and 2033. She is due to be released on February 2, 2030, according to the US Federal Bureau of Prisons, one day before her 46th birthday.
Holmes asked President Trump for early release
In January 2026, Holmes filed a clemency request with the Trump administration, asking President Donald Trump to commute her prison sentence. She submitted the request to the Justice Department’s Office of the Pardon Attorney, seeking early release nearly six years before she is eligible for parole. As of January 2026, the status of her commutation request was listed as pending.
The secret documentary ‘You Can See Everything’ gives an intimate look at Holmes before prison
The documentary “You Can See Everything” was produced by A24 and kept under wraps for years. It had a surprise world premiere at the Telluride Film Festival on September 6, 2026, where cellphones were confiscated from attendees before the screening.
The film’s synopsis states: “Thirty-four days before she’s sent to prison, notorious Silicon Valley founder Elizabeth Holmes invites a skeptical film crew to document her every move. What begins as an intimate portrait of an enigmatic felon becomes a mind-bending three-year journey into the abyss”.
Holmes invited the film crew into her San Diego rental home just over a month before she reported to prison. The nearly three-hour documentary shows Fielder and his crew living with Holmes, her partner Billy Evans, and their two children. Portions of the documentary where Fielder communicates with Holmes off-camera—including in prison—are re-created with the help of an A-list actress, whose identity becomes a plot point.
The trailer shows an intense exchange between Holmes and Fielder
The teaser trailer for “You Can See Everything” features a close-up stare-down between Holmes and Fielder. In the clip, Holmes looks directly into the camera and says:
“I don’t have anything to deceive you on. Of course I’m not deceiving you. I’m engaging with you as a human being. Why would I deceive you? There’s no reason for me to do that.”
Fielder responds: “OK. Alright. OK, good chat.” He then asks: “You’re being real right now?” Holmes answers: “I’m always being real.”
The trailer has been viewed more than 2 million times on YouTube within 24 hours. Many viewers described the exchange as “creepy” and unsettling.
Holmes’ social media activity from prison sparks outrage
Holmes’ official X account has been active since September 2025, more than two years after she reported to prison. Her bio reads: “Mostly my words, posted by others”. Federal inmates are barred from accessing social media or possessing cellphones. Exactly who is running the account remains unclear.
The account has promoted the new documentary and posted about everyday life. Holmes reposted the trailer with the caption: “I’m always being real”. The posts have drawn sharp criticism online.
“Why are you even able to post from prison?” one user wrote. “Your demeanor is truly haunting,” another added. A third critic wrote: “thought this was creepy AI.”
Holmes’ political shift has drawn attention
The documentary’s release comes after Holmes began posting pro-Trump and pro-Make America Healthy Again content on X in August 2025. This marks a striking shift from her previous political views. In 2016, she hosted a fundraiser for Hillary Clinton at Theranos’ Palo Alto headquarters.
In November 2025, she shared a Politico article about MAHA “embracing” her and wrote: “I have been working to Make America Healthy Again since 2004”. She also replied to posts about President Trump and Elon Musk, writing: “Time to come together”.
The Theranos fraud case that sent Holmes to prison
Holmes founded Theranos in 2004 after dropping out of Stanford University. The startup claimed it could run hundreds of medical tests using just a few drops of blood from a finger prick. The company attracted high-profile investors including Rupert Murdoch, Larry Ellison, and the Walton family. At its peak, Theranos was valued at roughly $9 billion, and Holmes’ stake was worth about $4.5 billion.
The company’s downfall began after a series of Wall Street Journal investigations in 2015 exposed serious flaws in its technology. Federal prosecutors later charged that Holmes knowingly misled investors about the company’s technology, finances, and commercial relationships while raising hundreds of millions of dollars.
In January 2022, a federal jury convicted Holmes on three counts of wire fraud and one count of conspiracy to commit wire fraud. She was acquitted on four other counts, and jurors failed to reach verdicts on three additional charges. Judge Edward Davila sentenced her to 11 years and three months in prison in November 2022. She was also ordered, jointly with former Theranos president Ramesh “Sunny” Balwani, to pay more than $452 million in restitution.
Balwani, Holmes’ former romantic partner and business associate, was convicted on 12 felony counts of fraud and conspiracy and sentenced to nearly 13 years in prison.
Related:
Holmes has two children with partner Billy Evans
Holmes has two children with her partner William “Billy” Evans: a son born in 2021 and a daughter born in 2023. She gave birth to her second child while fighting to remain free on bail during her appeal. Her request to stay out of prison was denied in April 2023.
The documentary shows Holmes and Evans interacting with their children at their San Diego rental home in the days before she entered prison. Evans admits in the film to posting from Holmes’ official X account as if he was her and appears to make key business decisions on her behalf.
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