Hamet Watt, co-founder of the once-popular subscription service MoviePass, is forging a new path after the company’s notable demise. He has shifted his focus to a new venture, Share Ventures, which aims to cultivate startups and secure funding for innovative projects.
In a recent interview with Business Insider, Watt shared that Share Ventures has already garnered nearly $20 million in funding, with prominent investors such as Alphabet and Amazon onboard. The new company’s mission prioritizes areas related to the future of work and innovations in longevity.
Watt expressed optimism about the current venture capital landscape, noting that the ongoing AI revolution and high interest rates could create an environment ripe for different investment models. His strategy includes developing proprietary software and implementing advanced language models to streamline operations, which he believes will enable them to identify promising opportunities more efficiently and with less capital.
“We don’t need as large of funds, and we can get signal on an opportunity much earlier with much less capital,” Watt explained, highlighting the proactive nature of building companies from the ground up with cutting-edge tools. He believes that while many venture firms are investing in new technologies, few are actively utilizing them in their operations.
Watt’s turn towards health and longevity stems from a poignant personal experience—he lost his mother at the young age of 25, which deeply influenced his perspective on life and mortality. This early loss has fueled his determination to innovate and create meaningful change in the health sector.
Reflecting on his experience with MoviePass, which is chronicled in the documentary “MoviePass, MovieCrash,” Watt remains resilient, viewing obstacles as opportunities for growth and innovation. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he states, embodying a spirit of persistence and entrepreneurial ambition.
In summary, Hamet Watt’s journey from MoviePass to launching Share Ventures exemplifies resilience and a commitment to learning from past experiences. His focus on health and innovation could herald a new era of startups that leverage technology for positive change, highlighting the potential for growth and new ideas in challenging economic times.