Jawbone

Jawbone's 2017 liquidation ended a hardware company that raised $930 million but never achieved sustainable sales. The company made Bluetooth speakers and fitness trackers, competing with Apple and Fitbit. Each product generation required new capital; manufacturing problems created quality issues. Jawbone blamed suppliers and competitors rather than addressing internal execution problems. The liquidation paid creditors pennies on the dollar. Jawbone demonstrated that raising money isn't success - converting it to sustainable operations is.