Too Much Hype?
It seems like most unicorns are overhyped. Theranos made claims about testing procedures that did not pass the smell test to veteran lab rats. The reason they never provided any data showing that their tests where as accurate as the tests they are to replace. As veteran lab rat (different area) this raises eyebrows.
If they had stayed a moderately funded research project to develop and refine the tests all would be good. But the hype machine caught up with them and they did not say no.