Hamet Watt, a co-founder of MoviePass, is embarking on a new journey following the company’s dramatic downfall. He is now focused on establishing Share Ventures, a venture studio that aims to develop and fund innovative startups. In an interview, Watt shared that he has already secured nearly $20 million in funding, with notable backers including Alphabet (Google) and Amazon.
Share Ventures is concentrating on investment opportunities in the emerging sectors of future work and longevity. Watt believes that the current landscape of venture capital, influenced by the rise of artificial intelligence and elevated interest rates, presents a unique opportunity for a differentiated investment model. As part of this endeavor, the company is creating its own software along with sophisticated language models to streamline and automate its internal tasks. This approach allows for a more agile response to identifying promising ventures, requiring smaller funds and enabling quicker signals on opportunities.
Watt emphasizes that while many venture firms invest in new technologies, they often fail to fully integrate these advancements within their operations. He aims to set Share Ventures apart by leveraging novel data and automation strategies in their investment processes.
His personal motivation stems from a deeply personal loss; Watt lost his mother at just 25, which has fueled his interest in health and longevity. This tragic experience has prompted him to consider his own mortality and sparked a desire to make meaningful innovations. Reflecting on his past experience with MoviePass, which he candidly discussed in the documentary “MoviePass, MovieCrash,” Watt views his previous failure as a learning opportunity that reinforces his determination to innovate in the future.
This new venture represents a hopeful turning point for Watt, illustrating resilience in the face of setbacks and an enduring commitment to pushing boundaries in technology and health sectors.
In summary, Watt’s journey from MoviePass to establishing Share Ventures highlights a transformative shift toward embracing new technologies in investment, driven by personal experience and the lessons learned from past failures. His efforts could potentially contribute to significant advancements in how startups harness technology for better solutions in the fields of work and longevity.