Hamet Watt, co-founder of the once-popular subscription service MoviePass, is shifting gears following the company’s dramatic decline. He is now focused on a new venture, Share Ventures, which aims to support and fund startups.
Watt revealed to Business Insider that Share Ventures has successfully garnered nearly $20 million in investments, with notable backers including tech giants Alphabet and Amazon. The company is targeting innovations within the evolving domains of work and longevity.
Watt believes the current climate of artificial intelligence and high interest rates presents a unique opportunity for venture capital, allowing for a more innovative and efficient business model. 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 is foundational to Share Ventures, as it integrates advanced tools and software to proactively build companies from the ground up.
Emphasizing the need for venture firms to actively use new technologies, Watt stated that Share Ventures aims to differentiate itself by embedding novel data and automation into its operations.
A personal experience also informs Watt’s dedication to the health and longevity space. After losing his mother at a young age, he has become motivated by the desire to further understand and innovate around health.
Despite the setback with MoviePass, which he explores in the documentary “MoviePass, MovieCrash,” Watt’s resilience shines through as he approaches this new chapter. He reflects on his journey, expressing a readiness to embrace both success and failure in his future endeavors.
This evolution from personal loss and a business setback to an optimistic new venture highlights the importance of resilience and innovation in the face of challenges. Watt’s story serves as an inspiring reminder that even in failure, there is potential for growth and meaningful impact.