Nathan Fielder’s new documentary, “You Can See Everything,” offers an extensive and complex examination of Elizabeth Holmes, the convicted founder of the blood-testing company Theranos. Co-directed by Fielder and Lance Oppenheim, the nearly three-hour film presents a series of unexpected developments surrounding Holmes and her personal life, unfolding in a narrative the filmmakers have gone to great lengths to keep confidential.

The documentary premiered last month at the Telluride Film Festival under strict security measures, including a phone-locking policy and the presence of guards equipped with night-vision goggles to prevent unauthorized recording. Following the screening, Fielder urged viewers not to reveal the film’s key revelations, emphasizing a desire to preserve the impact of the story for future audiences.

Holmes, who was convicted in 2022 of defrauding investors in her failed company, was sentenced to more than 11 years in federal prison. The film’s production began shortly before she reported to prison in 2023 and also involves her longtime partner, Billy Evans. Evans, an MIT graduate and heir to a family-owned hotel business in San Diego, appears alongside Holmes, with the couple’s two young children also featured.

Fielder and Oppenheim were granted unprecedented access to the family as they navigated this tumultuous period, with Holmes and Evans seemingly welcoming the cameras. They reportedly hoped the documentary would help reshape Holmes’s public image and provide a platform for her to tell her side of the story.

However, as filming progressed, the filmmakers encountered challenges in discerning genuine moments from calculated behavior. Fielder, known for his previous projects such as “Nathan for You” and “The Rehearsal,” which involved orchestrating elaborate social experiments, found himself questioning the authenticity of what he was witnessing. During a post-screening question-and-answer session, he admitted to struggling with understanding the true nature of the couple’s interactions and intentions.

“You Can See Everything” thus presents a nuanced portrait of Holmes and her family, raising questions about performance, truth, and perception in the aftermath of one of the most high-profile corporate fraud cases in recent history. The film is now available in theaters.