Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the tumultuous downfall of his previous venture. He is now focused on Share Ventures, a new studio aimed at developing and funding innovative startups. In an interview with Business Insider, Watt shared that Share Ventures has successfully garnered nearly $20 million in funding, with notable investors including tech giants Alphabet and Amazon.
The firm’s primary emphasis is on startups that target the future of work and longevity, capitalizing on the current momentum in the artificial intelligence sector and the favorable conditions for venture capital. Watt believes that the challenges posed by high interest rates and the AI surge present an opportunity for a distinctive investment model, which is why Share Ventures is integrating its own software and sophisticated language models to streamline its operations.
According to Watt, the model being adopted requires less capital upfront, allowing for quicker assessments of new opportunities. This approach empowers them to build startups from the ground up while leveraging modern technology effectively. Watt also addressed a gap he perceives among other venture firms, stating that while many are investing in new technologies, they often do not apply them within their own operations.
Watt’s interest in health and longevity is deeply personal, stemming from the early loss of his mother at the age of 49. This experience profoundly impacted his perspective on mortality and fueled his drive for innovation in this field. Reflecting on his past with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt sees failure as a stepping stone rather than an end point, expressing a proactive spirit toward future endeavors.
In summary, Hamet Watt’s transition from MoviePass to Share Ventures symbolizes resilience and the promise of leveraging technology to foster new businesses. His commitment to innovation in health and work sectors could pave the way for groundbreaking advancements, potentially enriching lives and changing industries for the better. This outlook underscores a hopeful narrative where challenges are met with renewed determination, showcasing the power of adaptation and perseverance in the entrepreneurial landscape.