Billy Evans and the 'Theranos 2.0' Question
Original: The Story of Billy Evans and ‘Theranos 2.0’
Why This Matters
Haemanthus tests whether Silicon Valley will fund blood-testing startups post-Theranos.
Elizabeth Holmes' husband Billy Evans, heir to a San Diego hotel fortune and MIT economics grad, is building Haemanthus, a blood-testing startup he insists is 'not Theranos 2.0'—despite agreeing to that label on camera in Nathan Fielder's new documentary.
Nathan Fielder and Lance Oppenheim's documentary 'You Can See Everything' has put Billy Evans squarely in the spotlight, raising uncomfortable questions about his startup Haemanthus and its proximity to his wife Elizabeth Holmes' discredited blood-testing company Theranos.
Evans, who grew up in one of San Diego's more prominent families—his grandparents built a hotel empire on Mission Bay starting in 1953—attended the elite Francis Parker School before earning an economics degree from MIT. Former acquaintances describe him as a 'classic spoiled rich kid' prone to starting drama, though Evans' supporters say fatherhood and Holmes' influence changed him.
In sentencing letters from 2022, Evans credited Holmes with teaching him patience and compassion. The couple have two children, William and Invicta, and Evans has spoken of collaborating with Holmes on product ideas while she was in prison.
On social media, Evans is emphatic that Haemanthus is 'not Theranos 2.0.' The Wall Street Journal cited a source saying Holmes is not involved. Yet the documentary shows Evans himself accepting that framing on camera—discussing prototypes and prison-era collaboration. He told the All-In podcast he hadn't seen the film yet and admitted it 'might be the dumbest thing I have done.'