The co-founder of MoviePass, Hamet Watt, is embarking on a new journey after the company’s downfall. In an effort to foster innovative startups, Watt has launched Share Ventures, which is already attracting significant financial support. The venture has raised nearly $20 million with backing from established giants like Alphabet and Amazon.
Watt aims to focus on burgeoning sectors such as the future of work and longevity. He believes that the recent AI boom and high interest rates have created an environment conducive to venture capital investments that diverge from the norm. Share Ventures plans to develop its own software and leverage sophisticated language models to streamline internal operations, making it easier to recognize lucrative opportunities with less capital investment.
“The landscape now allows for smaller funds, and we can identify prospects much earlier,” Watt explained. He emphasized that many venture firms are investing in advanced technologies but are not fully utilizing them in their operations. “What sets us apart is our commitment to employing novel data and automation,” he stated.
Watt’s interest in health and longevity is deeply personal; he lost his mother at the young age of 25. This experience has shaped his perspective on life and business. Reflecting on his time with MoviePass, which he revisited in the documentary “MoviePass, MovieCrash,” he sees failure as a stepping stone to future success. “Each setback presents an opportunity for innovation and growth,” Watt concluded, encouraging others to take risks despite the potential for failure.
This fresh venture represents not just a chance for Watt to pivot from past struggles but also a commitment to fostering innovation in promising sectors that have the potential to improve lives. His story is a reminder that resilience and the willingness to adapt can lead to new beginnings, and his focus on health and longevity may inspire further progress in these vital areas.
Overall, Watt’s new endeavors could provide exciting opportunities for startups and investors alike, especially in a world increasingly looking toward technology and wellness.