One relatively recent example that comes to mind is related to the (still open) invariant subspace problem, which once asked if every operator on a Banach space has a nontrivial invariant subspace.
The answer is "yes" in the finite-dimensional setting (for complex spaces of dimension greater than 1 and real spaces of dimension greater than 2) thanks to existence of eigenvectors. In infinite dimensions things get a little more difficult. So let's stick close to home and consider compact operators only; these are operators which 'behave' very much like finite-dimensional ones. The spectral theory for compact operators tells us that if a compact operator has a nonzero element in its spectrum, then it has an eigenvector. Thus we need only consider compact operators with zero spectrum, i.e. quasinilpotent compact operators.
That these have nontrivial invariant subspaces was first proved by von Neumann in the 1930s for Hilbert spaces. Later, in the 1950s, Aronszajn proved it for reflexive Banach spaces, and a few years after that he and Smith proved it for general Banach spaces. Following this, a succession of mathematicians (Arveson, Feldman, Robinson, Bernstein, Lomonosov, ...) proved many generalizations; one of them (the Arveson-Feldman theorem) stated that a general (i.e. not necessarily compact) quasinilpotent operator (on a Hilbert space) has a nontrivial invariant subspace if the uniformly closed algebra generated by it and the identity operator contains a nonzero compact operator. This is a very neat and surprising result. Around this time a lot of people were starting to believe that general quasinilpotent operators have nontrivial invariant subspaces. This belief was strengthened when Hilden gave his very elementary proof for the case of quasinilpotent compact operators (on general Banach spaces). A lot of people were enthusiastically trying to adapt his methods to prove the general case, but all this came crashing down when Read gave (in 1997) an example of a quasinilpotent operator (on a Banach space) with no nontrivial invariant subspaces.