Hamet Watt, the co-founder of MoviePass, is forging ahead after the company’s abrupt decline and is now focused on raising funds for a new venture studio aimed at developing and supporting startups.
Watt recently shared insights about his new venture, Share Ventures, in an interview with Business Insider. The company has successfully attracted almost $20 million in funding from prominent backers, including tech giants Alphabet and Amazon. Share Ventures is concentrating on businesses linked to the future of work and health longevity.
Watt believes the current landscape of venture capital is suited for innovative models, particularly given the rise of artificial intelligence and high interest rates. He emphasized that developing proprietary software and employing complex language models will help automate internal processes, making it possible to identify potential opportunities sooner and with smaller investments.
Watt pointed out a gap in the approach of many venture firms that invest in cutting-edge technologies but do not actively integrate these tools into their operations. He positioned Share Ventures as unique, leveraging novel data and automation in their investment strategies.
His personal experiences have also shaped his entrepreneurial focus. The loss of his mother when he was just 25 has driven his interest in health and longevity ventures. This loss has profoundly influenced his perspective on mortality and the importance of innovation in healthcare.
Reflecting on his past with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred by failure. He views it as a learning opportunity that motivates him to continue innovating, regardless of the risks involved.
Watt’s new endeavor underscores a hopeful outlook for both himself and the startups he aims to nurture, potentially paving the way for advancements in vital sectors that will benefit many.
In summary, Hamet Watt is channeling his past experiences into a new venture focused on the intersection of technology, work, and health, demonstrating resilience and a commitment to innovation despite previous setbacks. This endeavor could lead to significant contributions in critical areas of society, showcasing the positive possibilities of entrepreneurship.