Just my opinion, but Theranos looked like it wanted to combine (1) new technology to perform tests with less blood, and using pin pricks instead of blood from the vein and (2) business process improvements to streamline collection of blood and returning the results to the patient/doctor.
Whatever mix of these they were originally planning, they put a lot of emphasis in the press on the new technology. When this didn't pan out like they had hoped, they were not able to focus more on business process improvements, and in fact continued to emphasize their new tech and downplay the issues it faced (not really sure what these were, but overall there seemed to be a lack of hard evidence for the accuracy of the tests).
It also seemed that they did not have any approval from FDA on their claim of running 70 tests from a tiny sample from your finger print. Overall Shady stuff and really unfortunate that people's lives were put at risk.
Whatever mix of these they were originally planning, they put a lot of emphasis in the press on the new technology. When this didn't pan out like they had hoped, they were not able to focus more on business process improvements, and in fact continued to emphasize their new tech and downplay the issues it faced (not really sure what these were, but overall there seemed to be a lack of hard evidence for the accuracy of the tests).