Hamet Watt, co-founder of the pioneering subscription service MoviePass, is embarking on a new journey after the company’s significant downturn. He is now focused on launching Share Ventures, a new venture studio designed to fund and develop innovative startups.
Watt has successfully raised nearly $20 million from prominent investors including Alphabet and Amazon, and the venture will concentrate on areas related to the future of work and longevity. He believes that the current landscape, characterized by advances in artificial intelligence and rising interest rates, presents a unique opportunity for a more innovative approach in venture capital.
In an interview with Business Insider, Watt explained that Share Ventures aims to create its own software and leverage advanced language models to streamline its internal processes. He emphasized that this allows for less capital investment while still being able to identify promising opportunities early on. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he noted, highlighting the advantage of building businesses from the ground up using cutting-edge tools.
Watt draws on his own experiences, both in the success and failure of MoviePass, to inform his new venture. He has a deeply personal motivation for his work in health and longevity, stemming from the loss of his mother when he was just 25 years old. This experience has inspired him to think profoundly about mortality and the importance of health innovation.
Reflecting on his past, Watt views his experiences with MoviePass, which are recounted in the documentary “MoviePass, MovieCrash,” as learning opportunities. He expresses a commitment to continuing to innovate, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”
With his new focus on fostering startups in critical sectors and utilizing innovative technologies, there is hope that Watt will succeed in his new venture, potentially benefiting many through advancements in health and work-related solutions.
In summary, Hamet Watt’s transition from MoviePass to Share Ventures illustrates his resilience and innovative spirit. As he aims to utilize advanced technology to build startups that address significant societal issues, it holds the promise of creating impactful change in the fields of work and longevity.