Hamet Watt, co-founder of the infamous subscription service MoviePass, is turning the page from past failures and embarking on a promising new venture aimed at fostering startups. His new initiative, Share Ventures, has already secured nearly $20 million in backing from prominent investors like Alphabet and Amazon, positioning itself to focus on innovative companies in the fields of future work and longevity.
In a conversation with Business Insider, Watt shared insights into his vision for Share Ventures. He believes the current landscape of venture capital is primed for new approaches, particularly driven by the rise of AI technologies and the necessity for differentiation amidst high interest rates. Share Ventures aims to leverage advanced software and complex language models to enhance operational efficiency and identify investment opportunities more swiftly and with less capital than traditionally required.
Watt pointed out that while many venture firms are financing emerging technologies, few are integrating and utilizing these innovations within their own processes. His commitment to using data and automation sets Share Ventures apart, allowing it to build companies from the ground up.
The drive behind Watt’s focus on health and longevity stems from personal experience; he lost his mother at a young age, which profoundly shaped his perspective on mortality. This loss has fueled Watt’s passion to contribute in spaces that promote longer, healthier lives.
Reflecting on the lessons learned from the MoviePass experience, which he recounts in the recent documentary “MoviePass, MovieCrash,” Watt remains resolute about embracing the potential for failure as part of innovation. His journey illustrates resilience and the unwavering entrepreneurial spirit needed to navigate the uncertain world of startups.
In summary, Hamet Watt is transitioning from the lessons of MoviePass to a new ambitious chapter with Share Ventures, aiming to corner growth in emerging industries by harnessing the power of cutting-edge technologies along with a unique investment strategy. This shift not only demonstrates his adaptability but also serves as a reminder that setbacks can pave the way for future successes. The journey ahead is hopeful, advocating for innovation and progress in thoughtfully chosen fields.