Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey by establishing a venture studio called Share Ventures, aimed at developing and funding innovative startups. Since MoviePass’s dramatic decline, Watt has shifted gears, focusing on creating impactful opportunities in emerging fields.
Currently, Share Ventures has successfully secured nearly $20 million in funding, attracting notable investors such as Alphabet and Amazon. The firm is concentrating on startups related to future work environments and longevity, sectors that are gaining momentum in today’s economy.
Watt expressed optimism about the current venture capital landscape, suggesting that the surge in artificial intelligence and higher interest rates have created a favorable environment for differentiated investment models. He noted that Share Ventures intends to utilize proprietary software and advanced language models to streamline its operations and enhance investment processes.
Watt’s approach underscores a belief that smaller funds can yield significant insights into market opportunities more efficiently. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained, emphasizing a proactive strategy in building companies from the ground up.
Watt’s interest in health and longevity stems from personal experiences, particularly the loss of his mother at a young age. This experience has profoundly shaped his outlook on life and innovation. Reflecting on his past with MoviePass, he has embraced lessons learned as motivation to persist in pursuing new ventures, 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 summary, Hamet Watt’s transition from MoviePass to Share Ventures showcases resilience and an adaptive mindset. His commitment to leveraging modern technology while addressing critical societal needs like longevity illustrates a hopeful vision for the future of startups. As the landscape of venture capital evolves, Watt’s innovative approach might pave the way for meaningful advancements in the targeted sectors.