Hamet Watt, one of the co-founders of MoviePass, is now embarking on a new journey after the company’s dramatic downfall. He is actively raising funds for Share Ventures, a venture studio designed to support the development and funding of startups. Watt revealed that Share Ventures has already raised nearly $20 million, with notable backers including giants like Alphabet and Amazon.
The focus of his new venture lies in the realms of work’s future and longevity, highlighting a keen interest in harnessing technology to enhance human life and workplace efficiency. According to Watt, the current landscape of venture capital, influenced by the AI boom and rising interest rates, provides a unique opportunity for innovative models. He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach will help Share Ventures build businesses from the ground up while leveraging advanced technology.
Watt expressed his belief that many venture firms are investing in new technologies but are not fully integrating them into their operations. He aims to differentiate Share Ventures by using novel data and automation in their processes, which he believes will set them apart in a competitive landscape.
His personal experiences have also shaped his entrepreneurial drive. The loss of his mother at a young age has made him deeply aware of mortality, pushing him to focus on health and longevity industries. Reflecting on the lessons from his past endeavors, including the lessons learned from MoviePass, Watt remains committed to innovation. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”
In summary, Hamet Watt’s shift from MoviePass to pioneering a venture studio reflects his resilience and commitment to harnessing technology for significant societal impacts. His focus on leveraging AI and data in the startup ecosystem presents an opportunity for groundbreaking advancements in health and work-life. This pivot illustrates that challenges can lead to new and innovative paths, inspiring both entrepreneurs and the tech community alike.
Overall, Watt’s story serves as a testament to the value of persistence and adaptation in the face of failure. His journey encourages other entrepreneurs to embrace change and continue seeking innovative solutions, potentially leading to significant advancements in the future.