Image from You Can See Everything

Since its surprise premiere at the Telluride Film Festival, 'You Can See Everything' has been the subject of intense conversation among film enthusiasts. The documentary, a near three-hour deep dive into Elizabeth Holmes' life just before her incarceration, has been praised for its unique approach to investigative journalism, blurring the lines between reality and narrative in a way characteristic of co-director Nathan Fielder's previous work.

Its theatrical release proved to be an instant sensation, as reported by Deadline. The film grossed over $15 million in its opening weekend across approximately 800 theaters. This remarkable performance makes it the highest-grossing debut for a film in under 1,000 theaters in more than two decades, and the most successful non-music documentary opening since Michael Moore's 'Fahrenheit 9/11' in 2004.

The film's commercial triumph has quickly translated into significant awards season buzz. A24 has been actively campaigning, holding well-attended screenings for members of the Academy's Documentary Branch and an official AMPAS screening at the Samuel Goldwyn Theater, which saw an estimated 530 attendees – one of the highest turnouts this season. The enthusiastic reactions from these screenings suggest that 'You Can See Everything' could be a major contender.

Pundits are already speculating on its chances for a Best Picture nomination, a rare feat for any documentary, let alone one that challenges traditional documentary filmmaking. The film is also garnering strong consideration for Best Directing for Fielder and Oppenheim, along with technical categories such as David Bolen's cinematography, Ari Balouzian's haunting musical score, and Adam Locke-Norton's editing, who masterfully shaped 700 hours of footage into the nearly three-hour final cut.

However, the most groundbreaking aspect of the film's Oscar potential lies in an acting category. [SPOILER ALERT] Early reports from Deadline and others have hinted at a surprise appearance by an Oscar-nominated and Emmy-winning star in the film's second half, after Holmes reports to prison. It has since been revealed that Amanda Seyfried, who famously portrayed Elizabeth Holmes in the Emmy-winning series 'The Dropout,' makes a pivotal appearance. Her role in the documentary has led to an unprecedented discussion: could an actor be nominated for an Oscar for a performance in a documentary?

A24 is actively exploring this possibility, believing Seyfried to be eligible. Academy rules for actors do not explicitly exclude performances in documentaries, only uncredited ones. Seyfried, along with other on-screen participants like Christopher Abbott and Fielder himself, are fully credited at the film's conclusion, and IMDb has begun listing her in the cast. This would mark a historic first, as no actor has ever been nominated for appearing in a documentary in the Academy Awards' 99-year history. Previous close calls, such as Maria Bakalova in 'Borat Subsequent Moviefilm,' involved fictional characters, while John Malkovich playing himself in 'Being John Malkovich' did not result in an acting nomination.

While the Golden Globes and SAG-AFTRA's Actor Awards currently exclude documentaries from their performance categories, with A24 reportedly petitioning SAG-AFTRA for a rule change, the Critics Choice Association has already shown support. 'You Can See Everything' has earned five nominations at the Critics Choice Documentary Awards, and the CCA confirmed that performances in documentaries could be considered for their main Critics Choice Awards. All eyes will be on how the Academy responds to this unique and compelling awards season contender.