Facing the Worst-Case Scenario: How Jed Morris Lost His Business and Rebuilt His Life

As a Searcher & CEO myself between 2012 – 2020, I vividly recall attending many of the ETA conferences, and leaving with a feeling of self-doubt, self-consciousness or insecurity. It seemed like everybody knew more than I did, was moving faster than I was, or were more certain in their decisions. In short, it felt like everybody had it all figured out except for me. Of course this wasn’t deliberate on the part of the conference organizers. They were simply celebrating successes (as they should have been), and trying to share with others the lessons that led to those successes. I suppose an unintended consequence of these efforts, though, is that it’s easy for attendees to leave these events feeling as if everybody in the room is a smashing success except for them. But, empirically, we know that this isn’t true: According to the most recent data published by Stanford in 2024, 37% of all Search Funds wind down without acquiring a company (and this number has been rising in recent history). Of the 63% who do acquire a company, 31% of them sell at a loss. So, clearly, in spite of external appearances, not everybody is a smashing success. Today’s guest, ^redacted‌, has been incredibly generous, vulnerable, and forthright about the challenges that he faced as a Searcher and CEO. In his own words, after the bankruptcy of his company, he experienced homelessness, a profound sense of shame and failure, and nearly lost his marriage. Since then, however, his courage has helped an untold number of entrepreneurs either persist through similar circumstances, or avoid them entirely. To me, Jed is somebody who demonstrates what true leadership looks like. The point of today’s conversation is not necessarily to scare people away from taking the ETA path, nor is it to suggest that Jed's outcome is necessarily likely to happen to them. Instead, what I took from this conversation is the fact that, sometimes, even the worst case scenario is still one that we can not only survive, but learn from, grow from, and share with others. On this day of thanks south of the border, I'm grateful for people like Jed, who are constructive and positive members of our community. Who lead with vulnerability, honesty, and a genuine desire to help those looking to fulfill their entrepreneurial dreams. A link to the episode is below. Please enjoy. https://mineolasearchpartners.com/2025/11/27/facing-the-worst-case-scenario-how-jed-morris-lost-his-business-and-rebuilt-his-life/