Nathan Fielder’s Elizabeth Holmes Documentary Gets First Full Trailer—what Does It Reveal?

So, Nathan Fielder—the man who once slept in a fake rock to prove a point—is now tackling Elizabeth Holmes. And the first full trailer for his new documentary just dropped, making the internet collectively wag its head in confused delight. If you thought the Theranos saga couldn't get weirder, you haven't met the guy who convinced an entire town to pretend they were in a TV show.

What’s actually in this trailer?

The trailer shows Fielder doing what he does best: staring blankly into absurdity while everyone around him loses their minds. We see him interviewing former Theranos employees, but it’s shot in that painfully awkward style he perfected in Nathan for You. One clip shows him holding a tiny drop of blood, asking, “Is this… enough to launch a Fortune 500 company?” — a very pointed jab at Holmes’ infamous marketing of a single-drop test.

There’s also a surprising fact: Fielder reportedly bought actual Theranos stock from the company’s 2013 peak, just to film himself losing money. It’s like he’s doing method acting for financial ruin, which is both hilarious and terrifyingly committed. The trailer cuts to him sitting in a boardroom with a straight face while someone says, “This is a serious fraud, Nathan.” He nods slowly. You can almost hear his brain calculating the perfect punchline.

The “Fielder Effect” on a true-crime story

This isn’t your typical Netflix crime doc with creepy music and slow-motion shots of test tubes. Fielder is injecting his signature cringe-comedy into the raw wound of Silicon Valley deception. Imagine if Werner Herzog directed an episode of The Office, but with actual felonies and lab coats. That’s the vibe here.

One jaw-dropping sequence shows Fielder reenacting Holmes' famous deep voice with a voice coach. “Lower… more menacing… like a robot who’s read too many Steve Jobs biographies,” he mutters. It’s a brilliant way to mock the theatricality of her performance without ever being cruel. He’s using his own awkwardness to hold a mirror up to her fake confidence.

Nathan Fielder's Secret Project with Elizabeth Holmes | The Rehearsal

Wait, is this actually legal?

Here’s the wildest surprise: Fielder got full cooperation from Holmes’ former boyfriend and Theranos COO, Sunny Balwani, who is currently serving time for fraud. The trailer shows a blurred figure behind prison glass—presumably Balwani—as Fielder tries to explain a magic trick involving a fake blood vial. Yes, you read that right. He’s literally doing a magic trick for a convicted felon. It’s peak Fielder: turning a federal crime into a buddy comedy bit.

The documentary’s title? The Curse of the Blood Drop—a nod to Fielder’s own HBO show The Curse, but also a play on Holmes’ obsession with the “beautiful” look of a single red droplet. It’s like he’s calling her aesthetic a horror movie.

Nathan Fielder Visits Elizabeth Holmes in Prison, Claims Report - Mandatory

Will it be funny or horrifying?

Both. The trailer ends with Fielder sitting in a empty lab, music swelling, as he whispers to the camera: “I just want to know… did she actually believe it?” Then he pauses, looks at his hand, and sees he’s accidentally pricked himself with a needle. He frowns. “Oh. It stings.” It’s the perfect absurdist punchline to a tragedy that made billionaires look like idiots. You’ll laugh, you’ll cringe, and you might even feel a little sorry for Elizabeth Holmes—until you remember she faked a whole company.

Bottom line: This is the documentary we didn’t know we needed, and honestly, it’s exactly the kind of chaos 2025 deserves. Grab your popcorn—and maybe a first-aid kit.