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Who Is Jeff Morris Jr's Favorite Businessman?

Jeff Morris Jr names his grandfather, Mervin Morris, as his favorite businessman. Mervin Morris was a retailer who started Mervin's and built it into a public company.

Mervin Morris grew up in Delano, California, where his family owned the town's one general store. He served in the Army and was never deployed. In Arkansas they put him in charge of the base store because he was good at retailing. After that posting he expected people coming home from the war to need clothes for themselves and their families. His family was dirt poor, and he took out loans to open a single store. The idea was an affordable, family-first retailer in California, a place where kids and adults in one family could shop together. Older department stores mostly served men or women, and the prices sat out of reach for families without much money to spend on clothes. The closest comparison today is Target or Kohl's.

Mervin Morris lived toward 101. Years spent close to him became lessons in business and in the people who worked for him.

Transcript

Building a Venture Firm Like a Product | Jeff Morris Jr, Chapter One ·

The Peel with Turner Novak

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  1. Why Does Chapter One Publish Its Investment Committee Notes?Jeff Morris Jr says Chapter One publishes its weekly investment-committee notes because those partner meetings are the firm's best conversations, and sharing…
  2. Do Seed Round Labels Still Mean Anything?Jeff Morris Jr says a $60 million seed round would be below average now, and the old venture-round buckets no longer mean anything.
  3. Why Did a Seed Fund Back Erebor?Jeff Morris Jr says his seed fund backed Erebor's $2 billion round, a deal that was not a classic pre-seed, because refusing it would have cut the fund off…
  4. Why Did Venture Investors Start Preferring Deep Tech?Jeff Morris Jr says investors started preferring deep tech because AI software bets from 2022 to 2025 went badly, not because hardware suddenly got easier.
  5. Why Did Chapter One Become More Thematic?Jeff Morris Jr says one adjustment at Chapter One was being more thematic, so the firm can presumably get to a founder and a company before the rest of the…
  6. How Did Jeff Morris Jr Source Deals While Working at Tinder?Jeff Morris Jr sourced startup deals with software he wrote while he still worked full time at Tinder, because he could not spend the day calling founders.
  7. Why Did Chapter One Decide Not to Be a Crypto-only Firm?Jeff Morris Jr says Chapter One's biggest moment was refusing to become a crypto-only firm, right after the crypto book in fund two was marked at 22x.
  8. Why Does a Single Pivot Predict Startup Success?Jeff Morris Jr says one single pivot is a greater predictor of success for a startup than no pivots or a bunch of pivots.
  9. When Should a Founder Consider Pivoting?Jeff Morris Jr says a founder should consider pivoting the company as soon as the thought is in the back of their mind.
  10. Why Did Jeff Morris Jr Move to Kansas City?Jeff Morris Jr left San Francisco for Kansas City the day after a team call because other people wanted the growth marketer job.
  11. Why Did Jeff Morris Jr Hand-deliver Valentine's Flowers?Jeff Morris Jr delivered every Valentine's Day flower order in Kansas City himself because he did not have enough people there.
  12. What Do Founders Get Wrong About Shopping?Jeff Morris Jr says founders sometimes get things wrong by assuming people want to automate everything in their lives.
  13. How Do You Build a Venture Firm Like a Product?Jeff Morris Jr says you build a venture firm the way a product team works: run a pile of experiments, expect most of them to fail, and follow the few that work.
  14. Why Do Sequoia and USV Only Pick Winners 4 to 7 Percent of the Time?Jeff Morris Jr says Sequoia, USV, and the other best venture firms have historically turned only 4 to 7 percent of their companies into investments that…

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