The Holmes Heist: Can a Doc About Theranos Be Oscar’s Wildcard?

The Telluride Film Festival was a guessing game, with speculation culminating in the screening of Nathan Fielder and Lance Oppenheim’s documentary “You Can See Everything.” This film is a study of obsession, as two artists – one a veteran nonfiction filmmaker, the other a drama specialist – turned their attention to Elizabeth Holmes, the infamous Theranos founder. The result is a cinematic experiment that challenges perceptions of truth and performance.

Fielder’s presence within the film blurs the lines between observer and participant. He becomes an unwitting part of the narrative, struggling to discern what’s real and what’s staged. This internal conflict propels “You Can See Everything” into the spotlight, making it one of the most talked-about documentaries at Telluride.

The film’s craft is exceptional, with a 4:3 frame that deliberately draws attention to the artificial nature of the proceedings. Cinematographer David Bolen and editor Adam Locke-Norton create an atmosphere that’s both claustrophobic and mesmerizing. The deliberate choice of aspect ratio adds to the sense of unease, highlighting the tension between reality and performance.

A24’s decision to release “You Can See Everything” in October positions it as a major contender in this year’s documentary feature category. Given the studio’s impressive lineup, including recent hits like “The Invite” and “Club Kid,” there’s a real possibility that A24 could challenge MGM’s record for most best picture nominations by a single studio in one year.

MGM’s dominance in 1937 was unparalleled, with a roster of stars that included Clark Gable, Judy Garland, Spencer Tracy, and more. Their five best picture nominations were a reflection of their influence on screen and behind the scenes. This achievement is often overlooked but serves as a testament to the power of a well-executed strategy.

The real story here isn’t just about A24’s ambitions or the documentary branch’s response to “You Can See Everything.” It’s about the art of filmmaking itself – how creators use their craft to shape our understanding of the world. Fielder and Oppenheim’s collaboration is a fascinating example of this, one that raises questions about the nature of truth in nonfiction storytelling.

As the documentary branch responds to “You Can See Everything,” it’s clear that this film will be at the center of the conversation. Will its unconventional approach pay off, or will it be met with resistance from voters who prefer a more traditional style? One thing is certain: Nathan Fielder and Lance Oppenheim have given us a documentary that challenges our assumptions about performance and truth.

In an era where streaming services are pushing the boundaries of nonfiction storytelling, “You Can See Everything” stands out for its old-school approach. It’s a reminder that sometimes, the most effective way to tell a story is to get close to it – even if that means getting caught up in the chaos.

The Academy’s response will be telling, but one thing is clear: this documentary has already achieved something remarkable. It’s sparked a conversation about the very nature of nonfiction filmmaking and whether the line between observer and participant can ever truly be drawn.