Theranos aimed to revolutionize blood testing by using small blood samples instead of traditional vials, providing cheaper and more comprehensive tests through partnerships with Walgreens and Safeway pharmacies. However, the company's proprietary blood analyzer did not perform as promised and it faced regulatory sanctions from the Centers for Medicare and Medicaid Services for posing risks to public health and safety. While Theranos had a great idea to make blood tests more accessible, its execution failed.