Hamet Watt, the co-founder of MoviePass, is embarking on a new journey after the company’s notable decline. He is currently focused on raising capital for a fresh venture studio, Share Ventures, which aims to develop and fund innovative startups.
In an interview with Business Insider, Watt revealed that Share Ventures has garnered nearly $20 million in funding, with prominent backers such as Alphabet and Amazon. The studio is concentrating on sectors related to the future of work and longevity.
Watt believes that the current landscape, influenced by a surge in artificial intelligence and rising interest rates, presents an opportunity for a unique investment model. Share Ventures plans to create its own software alongside advanced language models to streamline its internal processes. This approach allows for earlier identification of potential opportunities without the need for massive capital investment. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively,” he noted.
He emphasized that while many venture capital firms are investing in emerging technologies, they are not fully integrating or utilizing these innovations in their operations. Watt expressed confidence that Share Ventures’ use of novel data and automation sets it apart from others in the field.
The notion of health and longevity has a personal significance for Watt, rooted in the loss of his mother at a young age. This experience has deeply influenced his perspective on life and innovation. “When you lose your mom at a young age, it forces you to think about your own mortality,” he reflected.
Watt’s previous venture, MoviePass, has been a topic of discussion in the recent documentary “MoviePass, MovieCrash,” where he reflects on the lessons learned from that experience. Motivated by the challenges he faced, he is eager to embrace new opportunities, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”
In closing, Watt’s resilience and innovative spirit shine through as he moves from the setbacks of MoviePass to forging new paths that could lead to significant advancements in technology and entrepreneurship. His story serves as an inspiring reminder that every setback can be a stepping stone to greater achievements.