"The company pursued the wrong strategy in the face of Apple and Xiaomi fitness trackers," wrote Pratt in an email to CNBC.Theory Talks proudly presents a Talk with historical sociologist Immanuel Wallerstein.It’s very difficult to define very narrowly these two directions, but basically there will be people trying to create a new world-system which will replicate certain basic features of the existing system but not be a capitalist system. The other direction would be to create an alternative system that is relatively democratic and relatively egalitarian.

Then there is a perhaps even more important issue, which has to do with reading classics.

True enough, everything classical writers say has to be re-analyzed because it’s constrained by the world in which they lived and thought.

"That's almost smartwatch territory for something that doesn't do much more than a Fitbit Flex does for a lot less," said Hoyler.

But the company's renewed focus on wearables may have hastened its demise.

The company's portfolio of patents may be worth anywhere from $12 million to $15 million and could be of value to tech giants like Google, Apple and Samsung, David Pratt, managing director of patent valuation company M-CAM International and CNBC's partner on the CNBC IQ 100 Index, wrote to CNBC in an email.

With a value once reaching as high as billion, Jawbone attracted some big names like VC investors Sequoia Capital and Andreessen Horowitz; its board once featured Marissa Mayer. Where the company really made a name for itself was in wearable and portable technology.While its demise now may be at hand — the company declined to comment to several CNBC requests — Jawbone innovations live on and may extract future economic value.Many of its products integrated military-grade noise-canceling technologies Jawbone developed in-house.But obviously one solution would be from my point of view a better world-system, and the other would be at least as bad as or perhaps worse than the world-system we presently have. Again, it’s intrinsically impossible to predict what the outcome will be; the only thing we can be sure of is that the present system won’t survive and that some outcome will occur.We shall create, in the famous phrase of Ilya Prigogine, order out of chaos. I’ve tried many times to analyze what happened exactly at that time, and what were its consequences, I’m convinced that 1968 was more important than 1917 (the Russian Revolution), 1939-1945 (the Second World War) or 1989 (the collapse of the Communisms in east-central Europe and the Soviet Union), years people usually point out as the crucial events.The Jawbone had a textured exterior designed by Yves Béhar and included proprietary noise cancellation technology.