Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey after the company’s dramatic failure. He is raising funds for his new venture studio, Share Ventures, which aims to develop and support startups focused on the future of work and longevity.
Watt has successfully secured nearly $20 million in funding from notable backers such as Alphabet and Amazon. He believes that the current landscape, influenced by the rise of artificial intelligence and high interest rates, presents a unique opportunity for a fresh approach to venture capital. According to Watt, the model employed by Share Ventures allows for smaller investments while still identifying promising opportunities earlier in their development.
By integrating advanced software and complex language models, Watt intends to streamline operations within Share Ventures. He pointed out a noticeable gap in the approach of many venture firms, noting that while they invest in new technologies, they often do not incorporate these innovations into their own processes.
His personal experiences, particularly with the loss of his mother at a young age, have instilled in him a passion for health and longevity. This tragedy has shaped his perspective on mortality and spurred his desire to innovate in these areas.
Despite the setbacks with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred. He views his past as a learning experience that fuels his ambition to create and innovate, emphasizing the importance of courage in both potential failure and success.
In a world where innovation can stem from adversity, Watt’s new venture represents a hopeful endeavor aimed at driving positive change and addressing key challenges in today’s rapidly evolving landscape.
This transformation from failure to a new venture highlights the resilience often required in the entrepreneurial journey. Watt’s commitment to embracing new technologies while addressing critical issues of health may pave the way for groundbreaking advancements in these fields.