Jawbone, a privately-held company based in San Francisco with a $1.5 billion valuation, today announced the relaunch of its UP wristband, which it discontinued one year ago due to manufacturing problems. (An excellent article in Fortune from October details the "beautiful failure" of the product and CEO Hosain Rahman's decision to cease manufacturing and refund customers' money.) There's a lot to like about this company and its products. Jawbone is one of few companies that has successfully innovated the adjacent possible, as my colleague James McQuivey has written, pivoting from Bluetooth headsets to Jambox speakers to the UP. The UP is a wearable device that lives (on the wrist) at the intersection of fashion and the consumerization of health. The UP is part of an emerging phenomenon that we call Smart Body, Smart World, which we think will power the next wave of growth and innovation in personal computing.