Consumer electronics company Jawbone had more than enough money to take on Fitbit and other health-tracking devices in the “wearables” market. Top-tier venture capital firms invested hundreds of millions of dollars, lifting its valuation to $3.2 billion in 2014. Ultimately, all that money couldn’t save Jawbone, which began liquidating proceedings in June after its fitness-tracker product failed to take off. It now ranks as the second largest failure among venture-backed companies.