Elizabeth Holmes was once one of the most talked-about entrepreneurs in tech. At just 19, she founded Theranos, cultivated an image as the next Steve Jobs and convinced some of the most influential people in business and politics to embrace her vision.
At its peak, Theranos was valued at $9 billion, built on promises to revolutionize blood testing. She rubbed elbows with power brokers in Silicon Valley, Washington DC, and on Wall Street — peddling influence, winning over journalists, and cultivating credibility along the way.
But when her technology fell short of expectations and her promises unraveled, the house of cards came crashing down, leading to Holmes’ eventual conviction on fraud charges.
Now, a new documentary, You Can See Everything, directed by Nathan Fielder and Lance Oppenheim, is bringing the Theranos saga back into the spotlight, offering an intimate look at Holmes’ life on the eve of her incarceration.
Oscar-winning documentarian Errol Morris recently revealed that he has been sitting on a never-before-seen, two-hour interview with Holmes, filmed in 2015 when Theranos was at the height of its success. Morris was hired to create ads for the company and is now considering releasing the full interview as an unedited film, offering audiences a rare look at how Holmes presented herself before the company’s collapse.
In a new Inc. Magazine feature, SMS Partner Aaron Gordon weighed in on what the Morris footage could reveal. Drawing on his past analysis of the PR missteps that accelerated Holmes’ downfall, Aaron notes that Theranos’ communications focused on building Holmes’ personal brand rather than addressing growing concerns within the company. He also questions how Holmes’ ability to persuade translated into credibility for a company whose claims ultimately could not withstand scrutiny.
As Aaron explains to Inc., the release of new footage may help us understand why so many people believed in Holmes when her reputation was at its peak, but he’s quick to point out that when it comes releasing new content, the threshold for public scrutiny is high. If Morris’ footage offers something truly novel — something that would effectively change the narrative — then it could take on value beyond another round of fascination with Holmes’ persona.
From a PR perspective, her story is a reminder that there is a difference between closely controlling your image and earning trust. A compelling personal brand can open doors and attract attention, but reputation is built on credibility, transparency and accountability. And when those things are missing, even the most carefully crafted narrative can eventually fall apart.
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