A24's new documentary You Can See Everything is poised to challenge a nearly century-old Academy Award tradition. The film, which follows Elizabeth Holmes' final days with her family, could become one of the first non-fiction films to secure a Best Picture nomination.

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Breaking a 98-year Best Picture drought

The Academy Awards have historically maintained a strict boundary between narrative features and documentaries. For 98 years, no non-fiction film has managed to break into the Best Picture category, a streak that has long defined the distinction between traditional cinema and documentary filmmaking. As the report states, You Can See Everything is now positioned to potentially shatter this long-standing barrier at the 2027 Oscars.

This potential shift comes at a time when the Academy is increasingly pressured to recognize diverse storytelling formats. if the film succeeds, it would mark a fundamental change in how the industry values non-fiction works, moving them from the periphery of the ceremony to its most prestigious center stage.

A24’s intimate portrait of Elizabeth Holmes

A24 has produced a film that moves beyond the typical true-crime procedural by focusing on the personal life of Elizabeth Holmes. Rather than focusing solely on the mechanics of the Theranos scandal, the documentary explores the final days Holmes spent with her family before her prison sentence began. This intimate approach has garnered significant critical acclaim, with the source noting that the film has achieved near-perfect scores on Rotten Tomatoes.

By focusing on the human element of the Holmes saga, the production seeks to provide a level of emotional depth rarely seen in legal or corporate documentaries. this strategy has already led some critics to label the work a "true masterpiece."

Will the Documentary Branch accept creative reenactments?

The film utilizes a hybrid approach that may test the Academy's formal definitions. You Can See Everything combines real-life footage with reenactments of moments that were never captured on camera. While the report claims this meets the Academy's definition of a nonfiction motion picture, it remains to be seen if the Documentary Branch will embrace this stylistic blurring.

There are several unanswered questions regarding the film's unique methodology. It is currently unverified whether the Academy will view these reenactments as a creative extension of the truth or a departure from the documentary genre. Furthermore, the source does not clarify how the film's portrayal of Holmes' private family interactions will be received by voters who prioritize strict journalistic objectivity.

The hunt for a Best Supporting Actress nomination

The potential for acting awards could also define this film's awards season. while most Best Picture contenders are recognized across multiple categories, the source suggests that You Can See Everything is uniquely positioned to earn nominations in acting categories, including Best Supporting Actress, despite its documentary format.

If the Academy recognizes performances within a non-fiction framework, it would represent another historic shift in how the industry rewards talent. Such a move would acknowledge that the emotional impact of a documentary can be just as profound as that of a scripted drama.