Elizabeth Holmes founded Theranos
Elizabeth Holmes faces an 11-year prison sentence and nearly half a billion dollars in restitution after her blood-testing startup collapsed into fraud.
Born in Washington in 1984, Holmes founded Theranos at age 19 with a goal to democratize healthcare using only a few drops of blood. Diena reported that industry professionals initially viewed the required blood volume as too small. By 2014, Forbes valued Theranos at nine billion dollars while employing over 800 workers.
Former US Secretary of State George Shultz joined the company board in 2011 after meeting Holmes. Forbes and The New York Times Style Magazine featured her on their covers.
The Wall Street Journal journalist John Carreyrou conducted months of investigations that triggered the company’s downfall. Ramesh Balvani, the long-term Theranos president and Holmes’s personal partner, accused her of defrauding investors.
Documentary Captures Final Days Before Confinement
Thirty-four days before Holmes entered prison, she and her partner Billy Evans welcomed documentary directors into their home. The resulting project, The Seeing Eye (2026), holds the highest rating in Letterboxd history and a 100% Rotten Tomatoes score.
“It is unbelievable that a documentary lasting nearly three hours leaves the feeling that one could watch three more, continuing this journey into an absolutely crazy world where it remains unclear who the main manipulator is,” said Dace Buša, film content creator, told Diena.
Debutants Nathan Fielder and Lance Oppenheim directed the feature on a seven-million-dollar budget.
“The form is unmistakably staged cinema with carefully constructed situations, yet the feeling is entirely documentary,” said Uldis Cekulis, film producer, told Diena.
Amanda Seyfried, who portrayed Holmes in the 2022 series The Dropout, returns to the role in the new feature. The 2022 series earned Seyfried an Emmy Award and a Golden Globe Award for best actress.
Appeals and Legal Aftermath
“A film whose characters are either aliens or the most polished psychopaths and manipulators in the world,” said Uģis Olte, film director, told Diena.
Cinemas across Riga, Liepāja, Ventspils, and Cēsis began screening The Seeing Eye on November 13.
“This documentary makes one completely rethink the documentary genre,” said Kristīne Stakena, author and podcast host, told Diena.
Frequently Asked Questions
What was the original valuation of Theranos at its peak?
Theranos reached a peak valuation of nine billion dollars in 2014 while employing more than 800 people.
What were the financial penalties handed down to Elizabeth Holmes?
A court sentenced Holmes to just over 11 years in prison and ordered her alongside Balvani to pay nearly half a billion dollars in restitution to investors.
How much did the documentary cost to produce and what are its box office earnings?
The Seeing Eye had a production budget of seven million dollars and has grossed significant revenue in ticket sales.
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