Hamet Watt, co-founder of the now-defunct MoviePass, is turning the page on the company’s downfall and shifting his focus to a new venture studio aimed at supporting startups. Through his latest endeavor, Share Ventures, Watt has successfully garnered nearly $20 million in funding, with prominent backers like Alphabet and Amazon.
Watt is directing Share Ventures towards the evolving sectors of work and longevity, which he believes present substantial opportunities for innovation. He envisions that the combination of the current AI surge and high-interest rates creates a favorable climate for a distinct investment model. By developing their own software and leveraging advanced language models, Share Ventures is set to automate its internal operations and streamline its processes.
Watt emphasizes a unique approach within the venture capital landscape, noting that many firms are investing in cutting-edge technologies without truly integrating them into their practices. His team intends to utilize novel data and automation continuously during their investment processes, setting them apart from traditional firms.
The tragic loss of his mother at a young age significantly influenced Watt’s interest in health and longevity. Reflecting on that experience, he noted it compelled him to confront his own mortality, prompting deeper thoughts about life and innovation.
Despite the challenges he faced with MoviePass, which he candidly discussed in the documentary “MoviePass, MovieCrash,” Watt views his previous experiences as valuable lessons that fuel his determination to innovate once more. He remains optimistic about the future, ready to embrace the possibility of both failure and success in his new venture.
This new chapter not only marks a significant transition for Watt but also represents a hopeful evolution in his career—leaving behind past setbacks while embracing new opportunities to contribute to the future of technology and wellness. It’s a powerful reminder that failure can lead to new beginnings and insights that drive forward-thinking innovation.