The Ben Shapiro Show - October 29, 2026


What Everyone Got Wrong About the Elizabeth Holmes "Documentary"

THIS Talarico Clip Is The Dumbest Thing On The Internet

Episode Stats


Length

18 minutes

Words per minute

185.43

Word count

3,381

Sentence count

270

Harmful content

Misogyny

1

sentences flagged

Toxicity

14

sentences flagged


Transcript

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Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
00:00:00.000 Okay, now I do have to comment on the cultural controversy of the moment.
00:00:05.000 So there's a movie that is out.
00:00:06.000 It's just doing extraordinary business at the box office.
00:00:09.000 It's a documentary called You Can See Everything.
00:00:11.000 This is the new Nathan Fielder documentary about Elizabeth Holmes.
00:00:15.000 And for those who haven't seen the film trailer, it's disquieting and confusing.
00:00:21.000 Here is a little bit of the film trailer I don't have anything to deceive you on.
00:00:26.000 Of course, I'm not deceiving you.
00:00:29.000 I'm engaging with you as a human being.
00:00:31.000 Hmm?
00:00:34.000 Why would I deceive you?
00:00:37.000 There's no.
00:00:39.000 There's no reason for me to do that.
00:00:44.000 Okay.
00:00:45.000 All right.
00:00:50.000 Okay, good chat.
00:01:03.000 You're being real right now?
00:01:05.000 I'm always being real.
00:01:08.000 Okay, now, this thing is being billed as a sort of documentary.
00:01:11.000 It's not a documentary.
00:01:12.000 In fact, it's not even really up for best documentary at the Oscars.
00:01:15.000 They're going to try and get this thing nominated for best picture.
00:01:18.000 I had an opportunity to watch it yesterday.
00:01:21.000 A24 is launching an Oscar campaign for consideration across all the major categories, including best director for Nathan Fielder and Lance Oppenheim.
00:01:30.000 So, It's sort of that.
00:01:32.000 I'll say this about the film.
00:01:33.000 I think the conversation around the film is more interesting than the film itself.
00:01:37.000 Because the question people are asking is what is the thing even about?
00:01:41.000 What's it really about?
00:01:42.000 So, the question purportedly asked when you watch the trailer for that is is Elizabeth Holmes a sociopath or a victim?
00:01:49.000 So, to understand that question, you have to understand exactly who Elizabeth Holmes is.
00:01:53.000 So, she founded a company called Theranos.
00:01:56.000 They claimed a proprietary device that could basically do any test you wanted by pricking your finger and getting a drop of blood.
00:02:02.000 The technology never worked.
00:02:03.000 But she kept telling the investors and the public that everything was working.
00:02:07.000 And she raised hundreds of millions of bucks.
00:02:09.000 Peak valuation for Theranos was $9 billion.
00:02:11.000 And then she was charged in 2018 with wire fraud and conspiracy counts covering investors and patients.
00:02:17.000 In 2022, a jury found her guilty of three counts of wire fraud and one count of conspiracy to commit wire fraud.
00:02:23.000 There were some patients who had sued her, claiming that basically she had said that she was processing their blood and she never really did it and all of the rest.
00:02:31.000 She was sentenced to 11 years, three months in federal prison, and three years of supervised release.
00:02:36.000 She tried to delay her incarceration in 2023.
00:02:39.000 And she was eventually reported to federal prison in May 2023.
00:02:43.000 She's eligible for parole theoretically in December of 2031.
00:02:46.000 Okay, so the setup of the film is that Nathan Fielder, who's most famous for his series Nathan for You and the rehearsal, both of which are basically about Nathan Fielder pranking people.
00:03:00.000 He's kind of a very, very high rent Sasha Baron Cohen in this way, I would say.
00:03:08.000 So Nathan Fielder.
00:03:10.000 Was given access to her for the 35 days prior to her incarceration.
00:03:15.000 That is the basic setup.
00:03:16.000 So you think that the question being asked is Is Elizabeth Holmes a sociopath or is she actually a victim?
00:03:22.000 Did everybody get it wrong?
00:03:23.000 Is she somebody who is basically manipulated by the men in her life and she didn't even know what she was doing?
00:03:29.000 That question is never really answered in the film.
00:03:31.000 So then there is a second question that is asked instead of that question, because the first question is never answered in the film as to whether Elizabeth Holmes is a sociopath or whether she is just basically half autistic.
00:03:43.000 The question is, how were so many people taken in by her?
00:03:47.000 Here there's an answer.
00:03:49.000 And Nathan Fielder's answer is, everyone is taken in by anyone at all times, including the audience for the film.
00:03:56.000 So here is my take on the film.
00:03:58.000 The film is basically an elaborate scam.
00:04:00.000 It's kind of a gigantic meta prank.
00:04:02.000 The big beneficiary of all of this is Nathan Fielder.
00:04:06.000 So there are several characters in the film and everybody ends up looking bad.
00:04:11.000 If the basic thing you're supposed to take away is that everyone lies and that everyone takes advantage of everybody else and everyone can also be taken in, And so, in that way, it's kind of a puzzle box as to who's lying the most and who's bad and who's good.
00:04:23.000 But in the end, it's a pretty nihilistic message that doesn't answer the central question.
00:04:23.000 Fair enough.
00:04:28.000 So, everybody in the film looks bad, including Nathan Fielder and A24.
00:04:33.000 So, Elizabeth Holmes is sort of the black box of the film.
00:04:35.000 You only see her for the first half of the film.
00:04:37.000 You never see her after that because she's in jail.
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00:05:41.000 Okay, so the first half of the film, he's living in her house, and you really don't get much from her other than she is deeply upset by the portrayal of her in a series on Hulu called The Dropout with Amanda Seafried, and that she is very upset at the prospect of her going to prison, which you can imagine why, and that The question is whether she really understands what she did in the first place.
00:06:04.000 And the film seems to suggest maybe not.
00:06:06.000 Okay, fine.
00:06:07.000 It's the other characters who look significantly worse than Elizabeth Holmes in all of this. 0.97
00:06:11.000 So her husband, Billy Evans, is made to look like a complete scam artist, sociopathic narcissist. 0.86
00:06:18.000 And maybe that's true. 0.99
00:06:20.000 Maybe that's what he is.
00:06:21.000 Or maybe that's a prank being played a little bit by the filmmakers, as I'll explain in a minute.
00:06:26.000 A24, which is the producer on the film, they don't look good either.
00:06:29.000 Neither does Nathan Fielder, and neither does Amanda Seafreid, who becomes a character, right?
00:06:33.000 She's an actress, she becomes a character.
00:06:36.000 In the second half of the film.
00:06:37.000 So, again, the first half of the film is Nathan Fielder in the home with Billy Evans and Elizabeth Holmes and their two kids.
00:06:45.000 And then she goes to jail.
00:06:46.000 And then the second half of the film is an investigation into the question of Billy Evans asking to be included in pay for the film.
00:06:55.000 So, it turns out Billy Evans went to A24 and Nathan Fielder and said, I want to be cut in on the film.
00:07:00.000 I want money.
00:07:01.000 And the question is whether Elizabeth Holmes knew about that or not. 0.92
00:07:04.000 That's the question that Nathan Fielder wants answered because if she knew about it, then that means she's a sociopath. 0.97
00:07:10.000 A manipulative sociopath.
00:07:11.000 And if she didn't know about it, it means she's kind of a victim of the men in her life, including her husband, Billy.
00:07:18.000 Now, I find all of this less than the sum of its parts.
00:07:20.000 Like just watching it as an audience member, because none of the characters are likable, and because frankly, they all seem like narcissists, I didn't find anybody to really sympathize with, and I don't find any deeper questions being asked or answered.
00:07:34.000 So I want to start with what I think happened when they were producing this film.
00:07:36.000 So here is Nathan Fielder talking about what it was like to produce the film being confused.
00:07:42.000 And not really knowing what was going on while they were filming with Elizabeth Holmes and her husband Billy.
00:07:49.000 She seems so genuine at times, but then I'm like, no, I'm clocking, like tracking my thoughts and being like, okay, I know she's a liar.
00:08:00.000 So I couldn't really, it was a weird mental thing.
00:08:04.000 And, anyways, I think from there we were like, can we roll the dice on something if they're open to having cameras in?
00:08:11.000 She was really taken by that David Blaine story, but I think.
00:08:15.000 I don't know why it really fascinated her, and they were like, okay, you could come in and document.
00:08:20.000 And then we said to A24, we cannot promise we'll deliver anything on this.
00:08:27.000 We don't know what the story is, but we wanted to see what will happen if we go with cameras.
00:08:32.000 And they were like, okay, that's fine.
00:08:33.000 And if you want to pull the plug anytime, you can do it.
00:08:36.000 So that was amazing.
00:08:39.000 And yeah, it wasn't until we started shooting that moments would happen, some of them that are in the film.
00:08:46.000 And then after Lance and I would talk about what we thought happened there, and we'd be completely disagree on what something meant to us or what we thought was happening.
00:08:57.000 And then we were like, oh, this is a really interesting thing.
00:09:00.000 If we can't agree on what's happening, there's something here.
00:09:05.000 Okay, so here's what I actually think happened in the production of this film.
00:09:09.000 Okay, I think they went in.
00:09:11.000 And very, about halfway through the film, the big twist happens.
00:09:14.000 The big twist of the film is that, again, Billy.
00:09:17.000 The husband asked for a percentage of the film profits.
00:09:21.000 And here is the real thing Fielder and A24 said yes.
00:09:26.000 Now, it's no longer a documentary at that point.
00:09:28.000 It isn't.
00:09:29.000 You're just not in the category of documentary.
00:09:31.000 If you are paying the subject of the documentary, it is not a documentary.
00:09:36.000 You have violated the basic sense of audience truth.
00:09:39.000 You now have an unreliable narrator.
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00:11:34.000 Right?
00:11:34.000 You're relying in the first half of the film on the idea that Nathan Fielder is a reliable narrator because you don't know that they've actually agreed to pay the subjects of the documentary to be part of the documentary.
00:11:44.000 So you'd think that he's telling you the truth, but he's clearly not.
00:11:48.000 He's lying.
00:11:50.000 He's faking because, again, they agreed.
00:11:54.000 Now, again, they try to make Billy into the villain for asking for the money, and he shouldn't ask for the money, obviously, and there are other reasons in the film why he's a villain.
00:12:01.000 But.
00:12:02.000 They are the biggest villains, right?
00:12:03.000 You are the ones who are saying we're going to film a documentary and you agree to violate the first rule of documentary filmmaking, which is that your subject is not a participant in the making of the film.
00:12:14.000 So the rest of the film is basically an attempt to avoid the consequences of A24 and Fielder's decision to pay the participants in the film.
00:12:23.000 Okay, which is really kind of shocking and strange.
00:12:28.000 And not just that.
00:12:29.000 I think what actually happened is they went in, they made the first Call, which is, we will, fine, we'll pay you.
00:12:34.000 And then they came up with nothing.
00:12:35.000 I think in the first 35 days, they came up with nothing.
00:12:37.000 I think they have hundreds of hours of footage of nothing happening.
00:12:40.000 And they have to somehow craft that into a compelling narrative.
00:12:42.000 And so they decided to retcon the entire story into a story about whether Billy Evans wanted to be paid or not.
00:12:53.000 And therefore, they decided to basically rewrite the whole story into a story about lying and a meditation on lying and all the rest of all of this.
00:13:00.000 So Nathan Fielder is playing a giant prank on everybody.
00:13:05.000 Okay, now, again, I want to go back to the characters for a second and who looks bad.
00:13:07.000 One of the people who looks the worst in this is Amanda Seafried.
00:13:09.000 So Amanda Seafried is the actress who played Elizabeth Holmes in the Hulu special, The Dropout.
00:13:15.000 And I believe she won an Emmy Award for it.
00:13:17.000 She's a really good actress.
00:13:19.000 So, one of the key things to know about Elizabeth Holmes in this film is that Elizabeth Holmes is very upset about her portrayal by Amanda Seafried in that series.
00:13:28.000 She thinks it's inaccurate, she thinks it's a perversion of who she is, and all the rest.
00:13:32.000 And Amanda Seafried early on finds that out and is clearly upset about that.
00:13:36.000 And then she proceeds for the rest of the film to do reenactments of Elizabeth Holmes, like as Elizabeth Holmes.
00:13:45.000 So, that's pretty nihilistic, that's pretty immoral.
00:13:49.000 Like, she believes that Elizabeth Holmes is half a victim of her husband, Billy, and of manipulative men.
00:13:55.000 But she's perfectly willing to go back in and play the same part.
00:13:58.000 So it's kind of a prank on Amanda Seafree to that extent.
00:14:01.000 It is a prank certainly on Elizabeth Holmes.
00:14:03.000 It's a prank on Billy Evans, who, again, seems kind of scuzzy.
00:14:06.000 I mean, there's a scene where he's fully naked for no reason other than he just wants to demonstrate that he's fully transparent.
00:14:12.000 But most of all, most of all, this film is a prank on the audience.
00:14:16.000 It's a prank on the audience because, I mean, again, Nathan Fielder tries to Do this weird sort of Alfred Hitchcock vertigo thing in the last half of the film, where the idea is that he's maybe being drawn in by Elizabeth Holmes because he's sort of in love with her. 0.98
00:14:28.000 If you believe that Nathan Fielder has some sort of crush on Elizabeth Holmes, you're silly. 0.77
00:14:35.000 So, what this really is in the end is a meditation on lying and being deceived. 0.97
00:14:40.000 And basically, his thesis in the end is everyone lies and everyone is deceived.
00:14:45.000 And that includes you.
00:14:47.000 That includes you, right?
00:14:48.000 Do you believe?
00:14:50.000 That Elizabeth Holmes is lying to you or that she's telling you the truth while you're being deceived.
00:14:56.000 Do you believe that Elizabeth Holmes quasi seduced Nathan Fielder?
00:14:58.000 Well, that says something about you.
00:14:59.000 Do you believe she's a victim and Billy's the victimizer and Fielder is a good hearted documentary, documentarian and Amanda Seafried is some sort of psychologist.
00:15:08.000 That says something about you.
00:15:10.000 So basically, the film is a mirror held up by Fielder to the audience because again, if the question is, how could someone like Elizabeth Holmes scam the smartest people in the world out of billions?
00:15:19.000 The answer that he provides is, Anyone can be scammed by anyone.
00:15:23.000 And the only person who comes out clean with that answer is Nathan Fielder.
00:15:26.000 He's the only one who comes out clean.
00:15:28.000 So, ironically, Nathan Fielder, who violates every rule in this film, right?
00:15:32.000 He starts off as a documentarian, and then we find out actually he's not a documentarian at all.
00:15:36.000 He's willing to pay the subject of the documentary.
00:15:38.000 He starts out as the weather eye voice of the audience, and then he supposedly is drawn into her seductive charms.
00:15:48.000 He starts off as the guy who's defending Elizabeth Holmes from her boyfriend.
00:15:52.000 For her boyfriend misappropriating her image.
00:15:54.000 And he ends up by having Amanda Seafried recreate every scene he has with Elizabeth Holmes in prison.
00:16:00.000 So he violates every single moral rule to do this.
00:16:02.000 And then at the end, he gets to basically claim, hey, I'm clean.
00:16:05.000 It was all a big prank, which, you know, good for him.
00:16:08.000 Good for him.
00:16:09.000 But I got to say, I find the entire enterprise from that angle distasteful because I think that the creators of film owe some form of actual authenticity to their audience.
00:16:21.000 And if the whole thing is just a meta commentary on how anyone can be deceived, For any reason, including you right now sitting in the theater, it's a little bit too meta for me.
00:16:31.000 It is one layer of meta too much.
00:16:33.000 What an amazing video you just watched.
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00:16:45.000 Father, I used to feel Christ.
00:16:49.000 I cannot feel anything here.
00:17:02.000 They take me out of my bed and they brought me here and they tell me nothing.
00:17:07.000 What have I done?
00:17:08.000 Article 58 counter-revolutionary activity.
00:17:12.000 That is all I know.
00:17:13.000 They have to deal with so many enemies of the state, all of whom claim their innocence, who protest, who cry.
00:17:28.000 There are no answers here other than the ones they put in your mouth.
00:17:34.000 Your break.
00:17:36.000 Today is your opportunity to demonstrate your loyalty to the people.
00:17:44.000 I'd like to know why I'm here.
00:17:45.000 Of course.
00:17:49.000 But you already know, don't you?
00:17:51.000 You must believe in something greater than the party.
00:17:55.000 You will remember your duty.
00:17:57.000 I've told you I know nothing.
00:17:59.000 Leave ground like a feral animal. 1.00
00:18:02.000 You stink of failure. 0.99
00:18:04.000 You want me to lie? 1.00
00:18:06.000 Still a drunk. 1.00
00:18:07.000 Damn you! 1.00
00:18:10.000 They all break. 1.00
00:18:14.000 Maybe.