Nathan Fielder's upcoming documentary on Theranos founder Elizabeth Holmes has caused some strong reactions online, and now it's become one of the biggest meme formats of the year.

The memes are all about the people in our lives who swear they're not deceiving us when we know deep down that they are, and some of them hit a little too close to home.

So, what is the Elizabeth Holmes and Nathan Fielder "Why Would I Deceive You?" meme, and what is the context behind it? Here's what you need to know.

What Is The 'Why Would I Deceive You' Meme?

The teaser trailer for Nathan Fielder's documentary You Can See Everything was released on September 6th, 2026, and the documentary follows disgraced former Theranos CEO Elizabeth Holmes days before her arrest for fraud related to the company.

For those who don't know, Theranos claimed to have revolutionary blood-testing technology that, after investigations, did not do what it was advertised to do. In the years following the fraud exposure, the company was ultimately dissolved, and Holmes was convicted of defrauding investors.

In the teaser, Elizabeth Holmes insists to Nathan Fielder that she would never deceive him while staring him in the eyes, unblinking.

The scene is uncomfortable as Fielder and Holmes engage in their stare-off, with many viewers convinced that Holmes is, indeed, deceiving him. Now, the scene has become a meme about deception.

How Is 'Why Would I Deceive You' Used In Memes?

As a meme, Elizabeth Holmes' face is being used as a reaction image to represent someone being deceitful, while Nathan Fielder's is being used to represent the person being deceived.

In many examples of the meme, the two are portrayed as a couple, although that's not always the case.

The memes play off the weird vibes in the trailer, as many viewers interpreted Holmes' claim that she's not deceiving Fielder as deceitful itself.

Some of the most viral memes include a version about a pet cat lying to its owner about being fed, a version in which Holmes plays a fake PNG file and a version where she insists to her partner that she wants him to go out with his friends.

What Are Some More 'Why Would I Deceive You' Memes?

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For the full history of the Elizabeth Holmes and Nathan Fielder "Why Would I Deceive You?" meme, be sure to check out Know Your Meme's encyclopedia entry for more information.