Documentary explores disputed profit-sharing deal with Elizabeth Holmes and Billy Evans

Nathan Fielder and Lance Oppenheim’s documentary "You Can See Everything" follows former Theranos CEO Elizabeth Holmes and her partner Billy Evans as they negotiate a potential profit-sharing deal with the film’s financiers. The A24-backed project gave the filmmakers considerable creative freedom, and a staged reenactment shows Evans demanding a share of any future earnings, arguing that the couple should be entitled to compensation if the movie succeeds. Fielder counters that paying subjects could undermine the documentary’s credibility.

According to Fielder, A24 eventually agreed to a profit-sharing arrangement, though the terms were not disclosed in the film. Holmes later told Fielder that she had no economic interest in the documentary, and Evans ultimately chose to forgo compensation.

The film notes that paying documentary subjects is uncommon under traditional journalistic standards because it can create conflicts of interest. Fielder cites examples such as the differing approaches to compensating Billy McFarland in competing documentaries about the Fyre Festival.

Holmes remains liable for more than $452 million in restitution ordered by a federal judge, a judgment upheld by an appeals court in 2025. She has repeatedly stated she has no money and that any earnings would be seized for restitution. The documentary does not clarify whether any profit-sharing proceeds would have been directed to her debt.

While Holmes and Evans live with their two children in a rented home in Del Mar, Evans comes from a wealthy hotel family and runs a biotech start-up, Haemanthus, which has raised up to $20 million but has not yet released a product. The film does not detail how the couple finances their lifestyle.